Staffing shortages, inflation and profit margin—it’s what keeps financial leaders in today’s healthcare organizations up at night. These converging challenges are wreaking havoc on bottom-line performance and at time when financial health is particularly vulnerable. Forward-thinking executives recognize that attracting and retaining the best talent in a competitive hiring landscape requires embracing new workforce models as workers increasingly demand better work-life balance. Often, this means managing and motivating employees that are remote and spread out across geographies—an approach that brings unique opportunities and challenges when it comes to meeting performance metrics goals.
This presentation will explore how strategies that invoke positive encouragement and competition can deliver big ROI on both the financial performance and employee satisfaction fronts, including:
In revenue cycle management, having visibility into staff performance and effectiveness can enable leaders to incentivize top performers leading to increased collections and improved financial margins.
By turning mundane revenue cycle processes into a game-like experience, hospitals and health systems can drive better engagement with staff, which, in turn results in better overall performance.
While each of these techniques is a proven method of motivating staff, financial leaders must have the right data at their fingertips to measure performance. Attendees will learn how executives can achieve visibility into the daily work effort of all staff and how workforce automation can provide the guidance needed to ensure daily activity delivers the greatest value.
Matt Seefeld has more than 20 years of management consulting experience in the healthcare industry. He has extensive expertise in the assessment, design, and deployment of process improvement programs and technology development across the entire revenue cycle.
Kevin has 20+ years of experience assisting numerous clients in realizing significant dollar savings and benefit to their bottom line through re-designing key revenue cycle functions, utilizing technology, and establishing a high performance work culture. Prior to joining MedEvolve, Kevin was the Senior Director over Revenue Cycle Operations at Falck US, based in California.
Kristin has been involved in physician billing, revenue cycle management (RCM), medical practice management consulting and insurance claims since 1998. She started Strategic Practice Solutions in 2010 after working with physician practices and facilities where she found billing and collections processes were lacking in efficiency and effectiveness. Kristin has many years of hand-on experience with staff development and RCM workflows process improvement.
Strategic Practice Solutions medical billing company optimized revenue cycle workforce with Effective Intelligence workflow automation & real-time analytics.
The organization is realizing better bottom-line performance with fewer FTEs. Zero touch claims that require no human intervention now account for 62.2% of total. Overall closed balance NCR is 98%—above the industry benchmark of 97%. 57% of self-pay revenue comes from mobile engagement.
First 3 months with MedEvolve Effective Intelligence, Falck achieved their highest collection months in March & April 2021, up 24% from previous 10 months.
Reduce RCM labor dependency with workflow automation, task management, & real-time analytics to increase margin.
Outsource your medical billing to us with over 20 years of revenue cycle experience incorporating Effective Intelligence in house.
Improve patient collection rates with account resolution services: call center, mobile engagement, payment portal & counseling.
Increase productivity and visibility into front & back office processes while keeping your staff focused.
Interview with Matt Rolfes, CEO/CFO of MedEvolve sharing advice for healthcare leaders trying to maximize their revenue with a reduced staff.
To better empower & motivate revenue cycle teams, provider organizations must have a foundation of real time effective intelligence.
Matt Seefeld offers a specific example of how MedEvolve’s software has led to a remarkable drop in labor expenses & a surge in performance.
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