Host Jeff Lin is joined by Matt Seefeld, EVP of MedEvolve, to discuss the importance of leveraging technology and intelligent data to improve the efficiency and costs of healthcare operations.
Matt Seefeld, EVP of MedEvolve, discusses with HIT Consultant why many physician practices are facing a harsh reality as they enter 2022. Revenue cycle processes and technology that have traditionally produced an acceptable bottom line are no longer delivering.
Healthcare organizations face unique challenges when collecting patient payments. Increased financial responsibility and limited interaction with patients before or during a visit can make it difficult to collect patient balances. The right tools and technology can help drive more payments and relieve the burden on smaller front and back-office teams to collect.
In this MGMA article, MidLantic Urology demonstrates how a switch to MedEvolve Effective Intelligence improved ROI and patient experience.
The shift toward greater patient financial responsibility is not slowing in healthcare. This trend—predicted by experts and underway for several years now—continues to tilt the reimbursement scale away from insurance claims and onto the patient.
Using MedEvolve Effective Intelligence, within 10 months, the organization was able to decrease their accounts receivable over 60 days by 38%, and categorize 87% of claims as low priority by carving out such areas as non-actionable
denial codes.
By rethinking, and automating, the tasks ahead of a patient visit, practices can strengthen their bottom lines, ease financial and staff stress, and simultaneously improve the patient experience.
When Academic Urology of Pennsylvania’s Controller, MaryAnne Thompson, wanted to shift practice management and billing in-house, she needed a company able to handle hundreds of
thousands of claims daily and provide services in real time. Her preferred choice was MedEvolve for practice management, practice analytics and occasional revenue cycle management projects. When Thompson leans on MedEvolve for support and new projects, she knows that MedEvolve shares Academic Urology’s goals – and that meeting them is a mutual success.
Patients are responsible for a huge chunk of their healthcare expenses. Employ proactive tactics & spend less time chasing payments.
Many physician practices are spending 80% of their time just getting reports & only 20% of the time implementing change.
Reduce RCM labor dependence with financial clearance, coding, 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.
“Measuring every touch in the revenue cycle is key to future sustainability—because every touch means money out of your pocket.” ~ Matt Seefeld
Healthcare organizations are already facing razor thin margins, and administrative waste could be the linchpin for future sustainability. Billions of dollars are at stake. I’m always surprised when I talk
Healthcare revenue cycles are primed for the benefits of automation & AI, but many are missing a critical link: human-generated data.
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