Partnerships between IT and revenue cycle will define the future of healthcare: 3 things to know

Beyond merely keeping hospital operations running smoothly, collaborations across a healthcare organization's IT and revenue cycle departments will also determine the organization's ability to keep up with the rapidly evolving landscape of the industry.

In a session titled "The Mix of IT, Revenue Cycle and Analytics" at the Becker's Hospital Review Health IT + Revenue Cycle conference in Chicago in October, a group of healthcare executives discussed the pressing need for partnerships between the IT and revenue cycle departments of a healthcare organization.

Panelists included Shon Brink, vice president of WakeMed Physician Practices at Raleigh, N.C.-based WakeMed Hospitals and Health System; Mike Simms, vice president of revenue cycle for Greensboro, N.C.-based Cone Health; Aaron Miri, CIO of Dell Medical School and UT Health Austin; and Laura Chapman, vice president of product management at Ingenious Med.

Here are three key points the panelists shared about collaboration between IT and revenue cycle operations:

1. A major part of a CIO's job is to ensure the IT team is embedded across the organization, from clinical operations to revenue cycle to facilities management.

2. Revenue cycle leaders, meanwhile, should also prioritize building partnerships with their organization's IT department. Those connections will result in more efficient and cost-effective investments in systems for revenue cycle management.

3. Ultimately, IT and revenue cycle teams must work together to better serve patients. With the ongoing consumerization of healthcare, the two departments will play crucial roles in developing new, consumer-centric models of information-sharing, profitability and reimbursement.

Don't miss the Becker's 3rd Annual Health IT + Clinical Leadership + Pharmacy event in Chicago, May 19-21, 2020. Click here to learn more and register.

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