Mike Simms serves as vice president of revenue cycle at Greensboro, N.C.-based Cone Health.
Mr. Simms will be on the panels "Innovation in the Revenue Cycle: What to Know for the Next 5 Years" and "The Financial Relationship Between Patient and provider and How Providers Can Better Understand the Patient Experience" at Becker's 7th Annual Health IT + Revenue Cycle, which will take place in Chicago from Oct. 4-7.
To learn more about the conference and Mr. Simms' session, click here.
Becker's Healthcare aims to foster peer-to-peer conversation between healthcare's brightest leaders and thinkers. In that vein, responses to our Speaker Series are published straight from interviewees. Here is what our speakers had to say.
Question: What are you most excited about right now and what makes you nervous?
Mike Simms: First, you have to have a passion to be in the revenue cycle. Everyday there is a new challenge whether it be staffing, payer issues or government regulations. I am excited about the possibility that artificial intelligence will bring to the revenue cycle. Everyone is talking about AI improving the productivity and efficiency of tasks that are performed by staff. As we all have a large number of accounts to work, anything that allows for streamlining and allowing accounts to be worked without staff handling would be a significant development in our industry.
Right now I am nervous about staffing issues. It is a very difficult labor market and staff are leaving for higher pay that they can obtain from other industries who face labor shortages. Coming up with innovative ways to maintain and recruit staff is on my mind.
Q: How is your role evolving?
MS: With all of the enhancements in technology, you almost have to be an extension of your information systems department. I feel that we are working more than ever with IT to enhance the employee and patient experience. Understanding and implementing the digital front door can make a difference between you and your competitors.
Q: Where are the best opportunities to integrate tech into finance operations and the revenue cycle?
MS: One example is handling the authorization process. We are looking at a vendor that has a direct connection to the payers and allows a seamless communication regarding authorization status or needed documentation. This will greatly enhance efficiency, productivity and reduce denials through this technology.