Ep 32 Tech-Enabled RCM: Tips and Solutions with Mike Marshall + Vanessa

For The Love of Revenue Cycle

Tech-Enabled RCM: Tips and Solutions with Mike Marshall + Vanessa

In this episode, Vanessa welcomes Mike Marshall to discuss the intricacies of revenue cycle management (RCM) and the challenges faced by healthcare organizations. Mike is currently the Managing Director of the North American division of e5 Workflow, with a rich background in healthcare focusing on turnaround projects for operation, finance, and revenue cycle management.

They explore the root causes of common RCM issues, the hesitations around adopting new technology, and emphasize the necessity of becoming tech-enabled to survive in the current market. The conversation delves into innovative solutions, actionable data, optimizing human resources, and technological advancements like AI and automation. They also provide guidance on selecting vendors and the importance of staying informed about industry innovations through networking, conferences, and professional advice.

00:00 Welcome and Introduction

00:31 Introducing Mike Marshall

01:03 Industry Challenges in Revenue Cycle Management

02:09 Hesitancy in Adopting Technology

03:48 The Pain of Outdated Systems

07:35 Fear of Change in Revenue Cycle

11:32 Importance of Training and Support

16:47 Encouragement to Explore New Solutions

21:19 Leveraging Technology for Efficiency

33:15 Medicare Challenges and Strategic Technology Integration

33:52 Middle Management and Delegation with Technology

35:08 Industry Changes and Knowledge Gaps

36:04 Leveraging Technology for Delegation and Efficiency

36:53 Outsourcing and Onshoring in Revenue Cycle Management

39:34 Navigating Vendor Selection and Industry Resources

45:16 Maximizing Conference and Vendor Interactions

53:40 Evaluating Automation and AI Claims

57:55 Strategic Technology Integration and Conclusion