Recommended
Recommended
More Related Content
Similar to VITAL2018 conference - Transforming the revenue cycle for the digital era
Similar to VITAL2018 conference - Transforming the revenue cycle for the digital era (20)
Recently uploaded
Recently uploaded (20)
VITAL2018 conference - Transforming the revenue cycle for the digital era
- 1. Transforming the Revenue Cycle for the Digital Era Nio Queiro, Hennepin Healthcare Ranjit Pisharoty, Sutherland Healthcare June 22, 2018 8:00 am
- 2. 2 #VITAL2018 TODAY’S PRESENTERS Nio Queiro Vice President - Revenue Cycle Hennepin Healthcare Ranjit Pisharoty Chief Delivery Officer Sutherland Healthcare
- 3. 3 #VITAL2018 WHY IS HEALTHCARE SLOW TO EMBRACE CHANGE? By nature and for good reason, the healthcare industry is incredibly risk averse. As one doctor said: “The moment we step into medical school, we are trained to identify the most statistically proven method for treating a particular disease, and we are taught to not deviate from that path until a better method has been found and proven.” Source: https://www.theguardian.com/healthcare-network/2015/jan/23/barriers-healthcare-innovation
- 4. 4 #VITAL2018 …WHEN RISK AVERSION ISN’T SUCCESSFUL Boston Children’s Hospital reported $65.2 million in unpaid collectibles in fiscal year 2016, up from $44.5 million in 2015 and more than doubled from what it was in 2012!
- 5. 5 #VITAL2018#VITAL20185 Trending Issues for Health Systems
- 6. 6 #VITAL2018 ELECTRONIC HEALTH RECORDS 90% of hospitals have EHRs Why is there more paperwork than ever before?
- 7. 7 #VITAL2018 CONSUMERISM Patients want differentiated experiences How do we deliver it to them?
- 8. 8 #VITAL2018 REVENUE Patients’ out of pocket costs are rising - reimbursements are decreasing How do we transform our operations?
- 9. 9 #VITAL2018 VALUE Healthcare is shifting from volume- based to value-creation What do we do to prepare for the shift?
- 10. #VITAL201810 A Brave New (Digital) World
- 11. 11 #VITAL2018 THE EVOLUTION OF THE PATIENT EXPERIENCE Pre-Encounter Encounter Post-Encounter Schedule by Phone Digital Registration System Pay by Mail or Call Center Online scheduling and patient liability estimator Virtual Check-In Kiosk pre- populated w/ Patient’s History Online Payment Options Mobile App w/ Personalized Recommendations & Reminders Check-in via Smart phone w/ Chatbot Assistant and Visible Wait Time Queue Convenient Payment options ex: Apple Pay / PayPal / Venmo
- 12. 12 #VITAL2018 NEXT STEPS INTO THE BRAVE NEW WORLD The limit lies more in your imagination than in the technology available to us Post-Encounter • Patient self-driven payment plans • Easy online bill pay • EDI 275 clinical attachments Encounter • Document management and abstraction • Patient clinical trackers • Virtual scribes Pre-Encounter • Make eligibility information available • Virtual check-in • Real-time comparative price quotes • Digital pay abilities (ex: Venmo, Apple Pay, PayPal) Patient @ Home • Cloud-based dialer and follow-up • Close the loop • Clinical tracking • Denial self- correction
- 14. 14 #VITAL2018 MEETING THE PATIENT WHERE THEY ARE
- 15. 15 #VITAL2018 PATIENTS WANT A BETTER EXPERIENCE!!
- 16. 16 #VITAL2018 HEALTH SYTEMS NEED TO DELIVER BETTER EXPERIENCES Payments within 2 days are at approximately 15% and at 7days 39%
- 17. 17 #VITAL2018 HOW TO GET INSIDE THE EXPERIENCE Design thinking seeks to understand the patient, challenge assumptions, and redefine problems to better identify alternative strategies and solutions that might not be instantly apparent
- 18. 18 #VITAL2018 DESIGN THINKING: GETTING A 360-DEGREE VIEW Successful design comes from seeing the entire journey through the customer’s eyes to create a holistic, 360-degree view: • See what patients see • Feel what they feel • Identify pain points and opportunities for improvement
- 19. 19 #VITAL2018 DESIGN THINKING TOOLSET Mapping current interactions, processes and tools to identify pain- points and opportunities. JOURNEY MAPPING Developing new concepts with target users using various prototyping techniques. CONCEPT DEVELOPMENTPATIENT PERSONAS Identify key patient types to better understand their problems, requirements, and their overall story.
- 20. 20 #VITAL2018 REVENUE CYCLE DIGITAL STRATEGIC PLAN CONSIDERATIONS
- 21. 21 #VITAL2018 REVENUE CYCLE DIGITAL JOURNEY 2017 Patient Friendly Statement Ease of Pay Technology Options Digital Notification 2018 Patient Advocacy Online Education Price Transparency Personalized Statements and Payment Options 2019 Open Access Digital Concierge Chat and AI Driven Customer Services Personalized Application
- 22. #VITAL201822 Where Do We Go From Here?
- 23. 23 #VITAL2018 HOW TO DEVELOP A DIGITAL-FIRST ORGANIZATION • The C-suite must support digital from the beginning • Start a pilot for the right reasons – The ROI will come afterward • Start small and scale up
- 24. 24 #VITAL2018 SUMMARY AND RECAP • Healthcare must shift from risk-adverse to digital-first • Automate everything you can…and then automate some more • Leverage analytics to turn data into insights • Design thinking WILL reshape legacy processes…and save you money • Work with a change agent – Don’t go it alone
- 25. 25 #VITAL2018 Q&A Nio Queiro Niobis.Queiro@hcmed.org Ranjit Pisharoty Ranjit.Pisharoty@sutherlandglobal.com
Editor's Notes
- Read quote…does this sound familiar to everyone in the room?
- Why is our industry so slow to embrace change? I recently saw this stat about Boston Children’s Hospital. I bet they’re not the only ones though with this problem. Does this also sound familiar to anyone in this room?
- Unfortunately though, the “proven” path is paved with major issues for all stakeholders. Here are some of the troubling trends for health systems.
- Nearly 90% of hospitals have E.H.R.s now- so why is there MORE paperwork? -Move to create billing events as a byproduct of clinical record -Automate tasks and create computer learning -Create smarter Business intelligence and pro-active monitoring
- Patients move to active consumer mindset -Need for increased consumerism; patient estimation tools -Easy scheduling -Web site content and easy communication (texting, chatting, advice, health coaches) -Health system created website ‘aids’ driving patients to you
- Automate the last mile Clinical claims attachments, once touted and left behind (275) Payment posting distribution across multiple tax IDs Claim status checking, small balance follow up, new digital automation Prepare the world for the PERSONLESS BUSINESS OFFICE OF THE FUTURE
- Look at efficiencies that can be gained in the treatment office -Virtual scribes, documentation robots, AI for feedback/innovation -Automated coding through a byproduct of clinical encounter using AI -Find and treat through wellness portals that we then create content in E.H.R.
- The only way to survive, a digital first mindset
- The only way to survive, a digital first mindset
- The only way to survive, a digital first mindset
- The closer innovation gets to the C-suite, the more likely it is to dwindle from lack of support WHY? Incentives are misaligned Underlying information technology is underleveraged And physician engagement is minimal MDs are BURNED out, suffer from change fatigue, and are unable to process more information, they are overloaded Assessment of potential financial returns depend more on subjective reference points than on their expected economic utility Are there REAL dollars to be saved???- - YES YES YES THERE IS EVERY time, every day in every situation How do we know? We see it, we live it, and our customers ask us to help them fix it
- Healthcare is natural risk adverse - By nature and for good reason, the healthcare industry is incredibly risk averse. As one doctor said: “The moment we step into medical school, we are trained to identify the most statistically proven method for treating a particular disease, and we are taught to not deviate from that path until a better method has been found and proven.” Compounding this issue is the fact that the majority of healthcare workers are increasingly time-pressed today, and so learning and adopting new systems, new methods of care or new devices often take a backseat to day-to-day patient care Automate -> You can’t automate enough. Right when you think you’ve automated everything you think you can automate, you find the next layer and realize you have so much further to go. Key closing point - The digital transformation of healthcare requires the re-engineering and re-imagining of legacy processes in order to create new ways of engaging and empowering patients