From payers to patients to policy, revenue cycle leaders need to refine their juggling act and make their voices heard.
As revenue cycle leaders from hospitals and health systems gathered for this year’s Revenue Cycle Exchange happening February 5-7, the atmosphere buzzed with collaboration and strategic dialogue.
With a dynamic agenda designed to tackle the industry's most pressing challenges, the event brought together dozens of revenue cycle leaders to San Antonio, Texas, to exchange ideas, share experiences, and drive innovation in revenue cycle management.
So, what is top of mind for the leaders this year? Look no further than payers, patients, and policy.
How rev cycle leaders are achieving top performance
The first roundtable of the event addressed pivotal questions around payer dynamics, operational alignment, and patient experience.
One major sticking point was learning to adapt to the payer evolution. Leaders anticipate significant shifts in payer behavior (i.e. AI), emphasizing the need for proactive strategies to manage new reimbursement models and policy changes.
When it comes to enhancing patient engagement, rev cycle leaders agree that listening to and resolving patient billing complaints are top priorities, with many organizations implementing patient-centered billing practices to improve satisfaction.
How rev cycle leaders are advocating for policy changes
The attendees agree that now is the time to get involved with legislation.
Case in point was when industry leaders Amanda Bessicks, executive director, government and vendor relations at Baptist Health-Jacksonville, Mike Finley, director of revenue cycle at Emplify Health, and Mike Gottesman, AVP of revenue cycle operations at Northwell Health, provided compelling insights into the intersection of healthcare policy and revenue cycle operations during their panel session.
Bessicks highlighted the operational challenges posed by the No Surprises Act, noting its significant effects on patient payments and billing workflows. Strategies to navigate these hurdles include robust staff training and improved patient communication.
Finley shared experiences advocating for healthcare policy at both state and national levels. He emphasized the importance of engaging not just lawmakers but also with their staff, who often play pivotal roles in shaping policy decisions.
But where do leaders looking to engage in policy discussions start?
Our panel had some ideas:
- Start small: Identify local or state-level issues where your input can make an immediate impact.
- Build relationships: Hosting lawmakers at healthcare facilities (or going right to the lawmaker’s office) fosters firsthand understanding of operational challenges.
- Educate on unintended consequences: Sharing real-world data and patient stories helps policymakers grasp the broader implications of legislation. The key here though, Gottesman says, is to keep your written communications short. Anything longer than one page long is going right in the trash, he says.
As the day concluded, one theme resonated clearly: revenue cycle leaders are not just financial stewards but strategic influencers who play a critical role in shaping healthcare policy, enhancing patient experiences, and driving organizational success.
The HealthLeaders Exchange is an executive community for sharing ideas, solutions, and insights. Please join the community at our LinkedIn page.
To inquire about attending a HealthLeaders Exchange event, email us at exchange@healthleadersmedia.com.
Amanda Norris is the Director of Content for HealthLeaders.