Physicians Practice Article: Data analytics can help you understand and mitigate risk
Manual efforts to predict cash flow may leave you vulnerable to revenue problems that can quickly spiral out of control.
Matt Seefeld, Executive Vice President 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.
Manual efforts to predict cash flow may leave you vulnerable to revenue problems that can quickly spiral out of control.
“The last thing that unemployed people want to do is pay their healthcare bill,” says Matt Seefeld, executive vice president of MedEvolve in Little Rock, Arkansas. “I’m going to pay for the things that keep my family alive. The last thing I’m worried about is that bill from six months ago.”
Matt Seefeld, EVP at MedEvolve explains to HIT Consultant how to understand & improve patient financial clearance process.
There are three components to success in revenue cycle: It’s people, it’s processes and it’s technology. And you have to have ways to analyze and measure performance around those areas in close to real time as possible. You get that right, you’re in a much better shape.
Workflow automation ensures your staff are following best practices and automates manual processes to prevent human error. The built in analytics provides feedback to staff on areas of process improvement.
Improve your revenue cycle management process by automating your financial clearance processes & accounts receivables management.
Matt Seefeld explains: Tech will replace spreadsheets & manual tasks, engaging with patients at each stage of the revenue cycle is essential.
Dr. Nick van Terheyden talks to Matt Seefeld, EVP at MedEvolve about analytics & machine learning to manage revenue cycle more efficiently.
Benchmarks can help ASCs focus on big-picture, revenue-boosting changes, according to MedEvolve Executive Vice President Matt Seefeld.
Many practices are still using paper bills. MGMA’s first Digital Payments Progress Report, released in 2017, found that more than 77% of medical groups indicated they still use paper, even though most groups are using certified EHRs.
Reduce RCM labor dependence with financial clearance, insurance A/R, & patient A/R automation modules with real-time analytics.
Increase productivity and simplify front & back office processes while keeping your staff focused with our flagship PM system.
Provider organizations should adopt new methodologies for revenue cycle benchmarks to understand staff effectiveness and where breakdowns are occurring. These include the following measures along with suggested percentages for optimizing
Discovery Behavioral Health increased cash flow by 5.2%, team capacity by 30% & zero-touch insurance payment rates by 13%. How did they do it?
Matt Seefeld, President of MedEvolve, exposes the hidden inefficiencies and financial chaos plaguing the U.S. healthcare system. From denied claims to overwhelmed billing departments, he explains how outdated processes are
Reimbursements are shrinking, labor costs are rising, and consumers are paying more. The pressure is on, but most revenue cycle teams still can’t answer a critical question: What’s really driving
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