Automation & Changes in Revenue Cycle 2022 & Beyond Presented by Vinod Sankaran
As presented at our 2022 Healthcare Innovation Workshop March 30th-April 1st, 2022
Description:
1. Trends in Revenue Cycle and where things are going
2. New Reality with - work from home/remote work and current hiring issues in the US
a. Workflow automation and the importance of tracking human productivity/quality/KPIs
b. In a tight labor market, you need to do more with less.
c. Workflow automation will help your team focus on deliverables and improve productivity
3. Knowledge management and documentation
a. Each of your clients has a specific set of work instructions.
b. KM technologies that can help your employees get to the reference instructions faster.
4. Transition of new clients and using technology to ease the process
a. During transitions, our endeavor is to create the policies and procedures manual that will help us manage the work processes and ongoing changes
b. Automating workflows and providing work instructions on demand helps our clients
5. RPA and AI and how it is changing Revenue Cycle
a. Time is now to make your business ready for the AI future
b. Most billing processes are routine and with some training, bots are now automating a chunk of revenue cycle processes
6. Technology in Patient Experience
a. The patient is emerging as a key player.
b. Predicting patient responsibility, providing a great experience, and flexibility in payments through tech interventions are some of the things mid-large size healthcare systems are looking for!
7. Other Trends
a. Changing role of clearing houses
b. Legacy software – how it is draining out your resources.
c. Need to shift to more open API based software
d. Transparent reporting for your clients. How can you automate that?
8. Two examples of Business Model Innovation
9. Discussion/Questions and Answers
Learning Outcomes:
1. Trends in Revenue Cycle and where things are going
2. Work from home/remote work as the new reality
-Workflow automation and the importance of tracking human productivity
-Infusing tech during transitions
3. Leveraging New Tech - RPA and AI. How AI is automating routine tasks
4. Technology in Patient Experience
5. Other Trends
6. Examples of Business Model Innovation
Speaker Bio:
Vinod (Vinny) Sankaran – CEO/Founder of Medical Billing Wholesalers
Vinod (Vinny) brings over 15 years of experience in operations, financial analysis, strategy, growth, corporate development, strategic planning, and marketing. At Medical Billing Wholesalers, he is involved in applying his experience to optimize revenue cycle process flows to improve our clients' profitability and performance.
As a member of the founding team of MBW, Vinny has helped MBW grow from 3 employees in 2010 to over 400 employees with multiple locations in the US and delivery locations in Chennai and Bangalore, supporting numerous medical billing companies, healthcare practices, revenue cycle software providers, and EMR companies. As the CEO, he is tasked with developing the company, new client acquisition, and applying new generation technology to drive revenue and profitability.
The dual master's degrees in quantitative finance and Industrial Engineering that he received from Oklahoma State University and the certifications - AI for business from Wharton and Digital Marketing Customer Engagement, social media, Planning & Analytics from Columbia University along with his extensive experience and achievements within the healthcare arena allow him to offer demonstrable economic benefit, enhancing medical practices' revenue cycle management and profitability.
He loves to travel and has been to over 50 countries and also loves kickboxing and is an instructor in his free time.
Member Price: $99.00
Non-Member Price: $149.00