In this episode of the MGMA Insights podcast, we’re joined by Matt Seefeld, executive vice president of MedEvolve. Seefeld has more than 20 years of healthcare management consulting experience and specializes in revenue cycle technology development and process improvement. He firmly believes in focusing first on the people, then on the processes before aligning both with technology that fosters automated and efficient workflow.
Seefeld spoke with co-presenter Andrea Vitalich on “Using Analytics to Automate and Streamline Practice Management and Revenue Cycle” at MGMA20 | The Financial Conference in Nashville.
To browse the articles, webinars, case studies and other thought leadership content Seefeld referenced in the show, visit MedEvolve.com/resources.
Don’t quite have time to listen to the entire episode? No worries. We’ve compiled a handful of highlights from Seefeld’s interview for your convenience:
- (12:06) “If you can’t measure it, you can’t improve off of it, and if you can’t improve off it, you can’t get the results.”
- (15:53) “No matter how great your technology is, you’re not going to replace your people. Everyone thinks, ‘Well, with A.I., I guess I just won’t need people anymore.’ That’s not true in healthcare, and anyone that believes that needs to rethink their position. You always are going to have people, and you’re always going to have processes – some automated, some manual – that have to align with technology. And that is really the key there: aligning with technology. I can hand you the best technology with proven results. But if you don’t align your people, your org structure and your process with that technology, you will never get to your best.”
- (21:44) “You need to be able to ready your revenue cycle story in less than five minutes. That’s reality. Don’t tell me you produce 100 reports at the end of the month, it takes you 10 days to get through it, then you have to develop your board meeting report. No, those days are long gone. If the data and if the answers are not coming to the surface for you, you have a problem. … If you’re having to dive down in the data to figure out if you even have a problem, you’re so far behind already.”
- (27:45) “Peace of mind is a big thing in revenue cycle. Too often do I meet with executives, managers in revenue cycle, and I say, ‘What keeps you up at night?’ And they answer, ‘It’s not knowing what I don’t know.’”
- (31:51) “There are three components to success in revenue cycle: It’s people, it’s processes and it’s technology. And you have to have ways to analyze and measure performance around those areas in close to real time as possible. You get that right, you’re in a much better shape.”
Here are some links and reference related to this week’s show:
- Revenue Cycle Management: Don't Get Lost in The Financial Maze (book)
- Healthcare AI market expected to surge from $2.1 to $36.1 billion by 2025
- A Nuts-N-Bolts Guide to AI
- Insights: Taming and innovating your revenue cycle management model
- How a 70-physician specialty practice centralized RCM processes – 5 insights
- Using Artificial Intelligence to Advance Revenue Cycle Management
- Why Workflow Automation Works: 4 Benefits of Swapping Spreadsheets For A Streamlined, Data-Driven Approach
If you like the show, please rate and review it wherever you get your podcasts. Subscribe on Apple Podcasts, Google Play, Spotify, Stitcher or countless other platforms to make sure you never miss an episode.
We love hearing from listeners about the show. If you have topics you’d like us to cover or experts you’d like us to interview, email us at podcasts@mgma.com or reach out to MGMA Sr. Editor and podcast host Daniel Williams on Twitter at @MGMADaniel.
MGMA Insights is presented by Decklan McGee, Rob Ketcham and Daniel Williams.
Explore Related Content
