What’s Keeping the C-Suite Up at Night and How to Fix It
Meduit representatives make it a priority to attend multiple revenue cycle conferences across the country. Over the fall months, Meduit team members spoke at length with healthcare leaders at these conferences about their hopes and concerns for the future of healthcare.
Doug Marcum, Senior Vice President of Technology, noted that a number of attendees at the AHA Executive Forum in Chicago were concerned about the sustainability of the current healthcare model. He stated that C-suite execs were adamant that the industry must find ways to reduce costs while still maintaining high clinical care and providing financial assistance to patients who need it.
Randy Tempest, Senior Vice President of Sales and Relationship Management, shared that AI solutions were top of mind for a majority of healthcare leaders at the Becker’s Hospital Review 5th Annual Health IT and Revenue Cycle Conference in Chicago. He clarified that, while everyone is looking to AI to transform healthcare and reduce costs, they want AI solutions that incorporate true machine learning, not just bots, and products that stand out by delivering lower cost coupled with greater productivity.
Bob Hall, Vice President of Regional Sales, attended the Florida Hospital Association Annual Meeting where discussion highlighted the importance of lowering drug costs, noting the success of North Carolina’s H.R. 3947 which is aimed at reducing prescription drug prices and removing delays in introducing generic drugs to the market. At that conference, broadcast news contributors Donna Brazile of Fox News and Nicole Wallace of MSNBC led a panel discussion on the future of affordable healthcare and stressed the importance of bipartisan legislation to make healthcare and medications more affordable for the American public.
The ongoing battle over claim denials was a hot topic at the Georgia HFMA Fall Institute where Bret Whatley, Regional VP of Sales South, and Janice Ridling, Sales Advisor, noted that one revenue cycle director specifically addressed the need for AI driven technology that staff can use to collect on denied claims. Bret elaborated that there was discussion about automating the claims process in order to help providers resolve more claims efficiently.
The East Michigan HFMA Fall Conference addressed how changes in healthcare, particularly hospital mergers, are impacting providers and how to prepare and plan for the future. John Fisher, Relationship Manager, noted that the speakers talked about change in the age of disruption and referenced keeping a positive mindset while embracing the fact that applied knowledge is power. He stated that panelists, who were hospital and health system C-suite executives, shared their direct experiences and strategies, specifically regarding mergers and navigating change.
Common denominators in talks across the conferences included looking to AI to transform the industry, lowering cost while keeping care at a high level and resolving denied claims efficiently while managing the constant issue of change. This valuable input from C-suite executives informs and guides Meduit’s leadership on what kinds of solutions to develop to solve both today’s and tomorrow’s revenue cycle challenges.