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Effective Intelligence: The New Measurement of Revenue Cycle Success
As seen at HBMA's 2022 Healthcare Innovation Workshop!
Staff shortages are wreaking havoc on every industry, especially healthcare. Due to COVID, organizations have been forced to change the way they work. Achieving the needed efficiencies can be daunting for financial executives who manage large billing teams across multiple locations – especially remote staff. Billing managers need transparency into workflows to ensure staff are not just productive, but also most effective in the use of their time. While billing teams can’t afford to lose an effective employee, they also can’t afford to keep one that is ineffective.
Revenue cycle leaders must have access to the kind of structured data that empowers them to move from basic intelligence to effective intelligence— a model that enables users to execute tasks more effectively and enables managers to understand the effectiveness and bottom-line impact of each revenue cycle team member. This data does not exist in a practice management or EHR system. This level of insight only comes from workflow automation solution which provides work drivers supported by algorithms that comb through data in real-time to streamline and optimize billing workflows.
This presentation will illustrate how billing companies can substantially improve revenue cycle performance by reimagining people, process and technology through the lens of effective intelligence. Matt Seefeld will demonstrate how implementation of workflow automation and data analytics solutions significantly improved performance and output of his 60-plus person billing team along with numerous other healthcare organizations and billing companies.
Learning Outcomes for Viewers:
1. Define downstream revenue cycle impact that results from lack of transparency and non-productive activity.
2. Analyze how effective intelligence can improve productivity by prioritizing processes around greatest return.
3. Identify best practices to implementing revenue cycle automation and analytics tools.
MedEvolve Executive Vice President and Head of Effective Intelligence
Matt Seefeld brings 20+ 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.