As patients are increasingly responsible for a share of their healthcare costs, revenue cycle management has become an increasing priority for health systems. This shift in reimbursement is forcing many organizations to invest more resources in working with patients to recoup payment for delivered care. Leaders are seeking solutions that allow them to ease the payment process for consumers, better manage accounts and ultimately increase revenue.
The complex pre-authorization process along with claims denials are common challenges providers face as they search to secure their revenue cycles. In the wake of COVID-19, providers must also work with patients experiencing unemployment who may be between insurance, as well as create sustainable business strategies to ensure their revenue cycle is prepared for a potential future crisis.
In a discussion with Modern Healthcare Custom Media on this critical topic, two industry experts offered insights into how their organizations are finding innovative ways to reform, maintain and secure revenue.
Matt Hawkins is the chief executive officer of Waystar, a cloud-based platform that simplifies and unifies healthcare payments. Matt is passionate about technology’s ability to transform healthcare and is ranked a top 50 healthcare CEO.
Michael Ford is the chief development officer at Revecore and has been a licensed healthcare attorney for over 20 years with extensive knowledge of healthcare revenue cycle. He has assisted in driving Revecore's expansion to more than 1,000 hospital clients across the U.S.