Join Scott Becker as he interviews Ric Sinclair, Chief Commercial Officer at Waystar. The two discuss the current landscape of healthcare including the pressure healthcare organizations face to improve margins in the wake of rising costs and limited resources, all while simultaneously being challenged to evolve the patient financial experience to meet rising consumer expectations. Ric shares his perspective on and how leaders are overcoming these all-but-paradoxical challenges to drive their mission forward with strategic, purpose-built automation. This episode is sponsored by Waystar.
Summary
Improving Margins and Patient Experience in Healthcare: Insights from Ric Sinclair, Chief Commercial Officer at Waystar
The Current Healthcare Landscape
In a recent episode of the Becker Group Business Podcast, Scott Becker interviewed Ric Sinclair, Chief Commercial Officer at Waystar about the challenges facing healthcare organizations today. Sinclair highlighted the pressure on healthcare providers to improve margins in the face of rising costs and limited resources. At the same time, he noted that healthcare organizations are being challenged to evolve the patient financial experience to meet rising consumer expectations.
The Role of Technology
To combat these challenges, revenue cycle leaders should raise their expectations of technology and work with vendors to create mutually shared goals, objectives, and expectations. Sinclair stressed the importance of purpose-built automation in healthcare payments, noting that context and purpose-built automation are key when it comes to driving meaningful results for providers.
The Importance of Automation
In fact, Sinclair believes that healthcare organizations have reached a tipping point where ideas and aspirations around healthcare payments have converged with technology, making it possible to make real change. He also mentioned that necessity is driving healthcare organizations to move towards automation, as they strive to reduce staffing challenges and costs.
The Waystar Solution
As a sponsor of the Becker Group Business Podcast, Waystar offers a comprehensive suite of solutions that can help healthcare organizations improve their financial performance and patient experience. With advanced analytics, automation, and machine learning, Waystar helps healthcare organizations to accelerate revenue, reduce costs, and improve patient engagement.
By partnering with Waystar, healthcare providers can leverage cutting-edge technology to improve margins and patient experience, all while driving their mission forward with strategic, purpose-built automation.
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 12/16/2022 and can be listened here.
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