In this episode we share the best path to optimize your revenue cycle results. We're joined by two leaders from Xtend Healthcare: Mike Morris, President & CEO; and Billy Padilla, Chief Information Officer. Tune in for tips on benchmarking and setting goals, maximizing automation, and more! This episode is sponsored by Xtend Healthcare.
Summary
Increase Revenue Cycle Results: Tips from Xtend Healthcare Leaders
Introduction
In this episode, we share the best path to optimize your revenue cycle results. We're joined by two leaders from Xtend Healthcare: Mike Morris, President & CEO; and Billy Padilla, Chief Information Officer. Tune in for tips on benchmarking and setting goals, maximizing automation, and more!
Sponsored by Xtend Healthcare
Welcome, everyone! My name is Kelly Gooch, and I am the Senior Editor and Enterprise Lead with Beckers Healthcare. Today, we are joined by Mike Morris, President and CEO of Extend Healthcare, and Billy Padilla, Chief Information Officer with Extend Healthcare. Mike and Billy will be guiding us through a conversation about the challenges that health systems face when trying to climb a mountain. They will discuss five steps that can be taken to overcome the obstacles that stand in the way of success. These steps include baselining, auditing, benchmarking, maximizing automation, and constantly measuring and adjusting. They will also talk about some technical terms such as anchors, belays, and dinos.
Steps to Optimize Revenue Cycle
Setting a data baseline and performing side-by-side observations are important steps in understanding the current revenue cycle process. Ancillary tools such as billing systems can provide valuable data to help automate processes. Set realistic benchmarking goals based on payer mix and prioritize issues that could be dragging on current performance.
Mike and Billy discussed the four steps they use to optimize the revenue cycle in their organization. These steps include streamlining processes, evaluating staff performance, creating a prioritized queue of data elements, and identifying opportunities to automate current tasks. They also mentioned that it is important to constantly measure and adjust goals over time.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 06/01/2023 and can be listened here.
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