In today's episode, we are joined by Mike Morris, President and CEO at Xtend Healthcare. Tune in to learn how Xtend Healthcare assures financial viability in this time of bleeding revenues, the future of AI within RCM complines, and how to drive out cost without reducing cash collections. Hear insights on Xtend's role in assisting public health authorities with COVID-19 communications and the benefits to remote work. This episode is sponsored by Xtend Healthcare.
Summary
Xtend Healthcare CEO Mike Morris Shares Insights on Financial Viability, AI, and Remote Work
Introduction
In a recent episode, we had the pleasure of hosting Mike Morris, President and CEO at Xtend Healthcare. Morris shared insights on how Xtend Healthcare is helping health systems achieve financial viability in these times of bleeding revenues, the role of AI in revenue cycle management (RCM), and the benefits of remote work.
The Role of Xtend Healthcare in Revenue Cycle Management
Xtend Healthcare helps health systems maximize their revenues by ensuring that they bill for all the services they offer and get paid for them. The company's focus is on being a true patient advocate for those patients by ensuring that they aren't being overcharged and that insurance companies are paying their fair share. Morris believes that technology is crucial for successful revenue cycle management, especially in these times when hospitals are facing so many financial challenges.
The Future of AI in Revenue Cycle Management
Morris is a proponent of the use of Artificial Intelligence (AI) and Robotic Process Automation (RPA) in revenue cycle management. With these technologies, healthcare organizations can automate tasks that previously required a human touch, such as claims processing and denials management. This not only saves time but also reduces the risk of errors and speeds up the payment process.
The Benefits of Remote Work
Mike shared his thoughts on remote work and the need for workflow tools that allow health systems to push the right work event to the right person at the right time and measure their performance. He believes that if work is being done effectively at home, there is going to be an inherent bias for that workforce to remain at home. Morris stated that embracing remote work can also have a positive impact on employee happiness and work/life balance.
Conclusion
Overall, the conversation with Mike Morris was insightful and provided great perspective on the future of revenue cycle management. Xtend Healthcare's role in assisting public health authorities with COVID-19 communications showcases their commitment to quality patient care. Additionally, Morris' thoughts on remote work and the need for workflow tools provide valuable insight for healthcare executives grappling with the changing nature of work in the COVID era.
This episode was sponsored by Xtend Healthcare.
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 09/19/2022 and can be listened here.
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