I'm definitely starting to see a shift in thinking that healthcare providers actually have to start running like businesses. I like to use the military analogies. If you've got a SEAL team deployed in a battle zone, they're not looking at spreadsheets to figure out how they're going to get out of the situation. They've got a lot of data points that are coming at them in real time that's going to say what to do and where to go. And yet here we are in healthcare thinking that it's okay to run a monthly aging A/R report.
Matt Seefeld, executive vice president and Chief Commercial Officer at MedEvolve, describes his career journey and the evolution of his workflow automation system for healthcare revenue cycle management. Initially, he developed a system at Price Waterhouse Cooper focused on ER management and later pitched a cloud-based version at Deloitte. Eventually, he left Deloitte to start InterPoint, where he followed the principles of measurement and accountability learned from Dale Stockamp.
He built a workflow automation system that integrated with practice management EMR systems, tracking individual tasks and performance. InterPoint operated from 2007 until its sale in 2012. He later joined MedEvolve, a company in Little Rock, Arkansas, which initially offered billing software and later expanded to revenue cycle services.
By 2017, facing a saturated market with outdated practice management systems, he focused on creative upselling and leveraging their RCM insurance business. This led to the development of the Effective Intelligence Suite, a workflow automation tool integrated with MedEvolve’s PM system (in 2022 it expanded as a bolt-on offering to other PM systems as well). The suite tracks every interaction related to patient visits, enabling analysis of profitability and efficiency.
Matt highlights the importance of integrated tasking within patient encounters, contrasting it with PM systems that operate separately. He emphasizes the need for real-time data and structured task documentation to improve financial outcomes and reduce inefficiencies. He advocates for running healthcare businesses with the same principles of accountability and efficiency as any other industry.
He addresses challenges in selling advanced technology to an industry that often relies on outdated methods like spreadsheets. He stresses the need for healthcare providers to adopt modern, data-driven approaches to remain viable. He also discusses the broader challenges in healthcare, including rising costs, declining reimbursements, and the misalignment between payers, providers, and consumers.
Matt’s journey highlights the critical need for integrated, accountable, and efficient revenue cycle management in healthcare, driven by real-time data and innovative technology solutions.
About Matt Seefeld
Matt Seefeld, Executive Vice President & Chief Commercial Officer at MedEvolve, brings over 24 years of management consulting experience in the healthcare industry. He has extensive expertise in the assessment, design and implementation of process improvement programs and technology development across the entire revenue cycle. Matt began his career with Stockamp & Associates, Inc. and worked for both PricewaterhouseCoopers LLP and Deloitte Consulting LLP in their healthcare and life sciences practice lines. In 2007, he developed a business intelligence solution and founded Interpoint Partners, LLC, where he served as Chairman and Chief Executive Officer. In 2011, he sold his business to Streamline Health Solutions where he then served as Chief Strategist of Revenue Cycle followed by Senior Vice President of Solutions Strategy until 2014. Matt ran global sales for NantHealth and provided consulting services for healthcare technology and service businesses nationwide, prior to joining MedEvolve full-time.
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Effective Intelligence Suite
- Effective Intelligence Overview
Effective Intelligence combines Patient Financial Clearance Automation, Medical Billing Workflow Automation, and Real-Time RCM Analytics in a cloud-based platform designed to integration with your current EMR/PM technology to measure the effectiveness of your RCM staff.
Review and assess your practice’s financial status in 5 min or less and know exact where you are losing money and why. Measure the work effort of every revenue cycle employee, incentivize and retain your top performers, and help employees that need improvement.
You can prevent most common denials, rejections and write-offs during the scheduling and pre-registration process in advance of the appointment. Configure checkpoints and use central task management to quickly clear patients and keep your front office staffing needs at a minimum.
As team members log in to the web-based application and record each “touch” of a claim, outcome, and next task, key data points are recorded like who completed the task and when, outcome, task notes, internal / external messages sent, collection success and other data points that feed into our real-time analytics.
