Accelerating Revenue Cycle Performance in the Healthcare Industry

Podcast, Videos

Share:

Michael Duke, Principal Healthcare Consultant at Baker Tilly US, sat with me to share his insights into the importance of data and analytics for internal audits, organizational risk reduction, workflow automation, and to drive value in healthcare. He also explored the McPherson Principle from his book on the topic (plus much more). 

Here is a sneak peek of our conversation:

Q: When we’re talking about revenue cycle performance, there was sort of traditional, legacy ways that companies have been analyzing this. What were some of the key things that you have noticed that have happened in the healthcare industry that has impacted the way people are looking at revenue cycles?

A: I think a lot of things had changed. The processes had changed a little bit because we pushed all our staff home. The current systems in place, EMR, and those types of things are not maximized for that remote concept. I don’t know if that’s ever coming back. We’re 100% internal and we might have some blended where you come in for a couple of days but that has changed. The dynamic of the human interaction with the work involved and where they do that has changed.

I had a conversation with one of my clients about six months ago. They have a shortage in the workforce in their location. It’s a small rural location and I said, “You can hire anybody anywhere at this point.” I think that changed but I need to have fundamental ways to understand that the work is still getting done and it’s still getting done well. When it’s not getting done well, at least from the human interaction standpoint, how do I provide micro training? How do I provide the specific training to a specific individual where I know they’re short so that I can improve their performance. We need those metrics and some of the things that I talked about in the book. We need those measurements so that I can be hyper-focused on what each individual needs quickly as opposed to one massive training class that may not touch on their specific deficiencies.

For more of our discussion, you can watch the whole Fireside Chat with Michael Duke, or listen to the podcast version, below.

To check out previous Fireside Chats and to make sure that you don’t miss any future updates, subscribe to our newsletter or follow us on YouTube, LinkedIn, Twitter, Facebook or our podcast. If you enjoyed this episode, kindly leave a review on iTunes.

About Impetus Digital

Impetus Digital is the spark behind sustained healthcare stakeholder communication, collaboration, education, and insight synthesis. Our best-in-class technology and professional services ensure that life science organizations around the world can easily and cost-effectively grow and prosper—from brand or idea discovery to development, commercialization, execution, and beyond—in collaboration with colleagues, customers, healthcare providers, payers, and patients.

LinkedIn
YouTube
Podcast
Menu