Here is what four revenue cycle leaders recently told Becker's they are most excited about right now:
Kimberly Hodgkinson. Senior Vice President and CFO at Hospital Sisters Health System (Springfield, Ill.):
I am excited about the long view of applying automation and innovation to finance operations and revenue cycle.
Sheldon Pink. Vice President of Revenue Cycle at Luminis Health (Annapolis, Md.):
I'm most excited about my team. I spent the last year building up a diverse, multitalented and strategic team, and we had to move some parts, get new hires and align existing roles differently. Right now, I think we have a very cohesive unit, so I'm looking forward to our revenue cycle optimization efforts in the future. Another thing I'm excited about is our revenue cycle strategic plan. One of the challenges I faced once we joined the organization is that we didn't truly function as a revenue cycle, and now we are. So just getting that team together and helping drive revenue cycle performance within the organization is what I'm most excited about over the coming years.
Niobis Queiro. Senior Vice President of Revenue Cycle Management at Tufts Medicine (Boston):
I am most excited about automation and machine learning. Healthcare leaders are well aware of the enormous pressures on staff to deliver top-tier patient care while undergoing constant workforce changes. They also know that supporting these staff with an automation program is a top priority. As we look at our new normal, we must adapt like other industries to become efficient and have our people be critical thinkers and problem solvers. The predictable should be automated, and billing should be as automatic as many of our standard duties. Denials come with patterns and trends that we have been trying to track for ages. Still, technology is now capable not only of identifying the why but of preventing, executing the response when needed and providing predictable analysis. We must engage the tools to come to the table with payers as equals. The technology is there; we just need to be brave enough to test, adapt and grow.
Randolph Siwabessy. CFO at University of California Irvine Health:
The most exciting aspect about being in my role is the opportunity to work with colleagues who are passionate about serving our community and growing the enterprise. Having joined a year ago, I've witnessed firsthand our co-workers' compassion, versatility and perseverance in the handling of the pandemic and the various challenges that came along with it. In addition, to connecting the various initiatives across our clinical enterprise, we are currently working on an integrated strategic financial plan that will help us focus on areas of the highest impact from the perspective of quality, experience, access and value for our patients.
We are also building a new medical center in Irvine. Two ambulatory sites will open in 2023 and the new acute care facility will open in late 2025. We are very eager to serve our community and support our tripartite mission of discover, teach and heal. Along with this excitement comes the need to grow our revenue and manage our costs. Given the highly inflationary environment and the increased regulatory requirements such as pricing transparency and No Surprises Act, we will need to be more strategic about which initiatives and capital investments we pursue. I am confident that we have the right leaders and co-workers to make sure our health system thrives.