Beginning Anew

It’s a new year. What better time to examine old assumptions, learn from best practices, and adopt better ways of doing things?

Greek philosopher Plato is credited with saying, “The beginning is the most important part of the work.” In that spirit, RevSpring is beginning this new year by retooling our company blog to reflect big themes in the world of financial engagement and patient payments. Each month we will feature an educational post about a major theme or initiative from the perspective of revenue cycle managers, customer experience managers, digital strategists, and technologists. Most importantly, we also will include the patient’s perspective to keep us all focused on the big picture.

In case you missed it, we’ve already kicked off the new year with our annual Virtual Summit. RevSpring experts provided a close-up examination of some of the major themes and initiatives we’ll be exploring in the blog this year, including the transformative power of OmniChannel engagement for patients and providers. And two of our customers generously shared stories of their organizations’ strategic transformations, including results achieved and key lessons learned.

The revenue cycle management staff at OhioHealth admitted that their initial reticence about switching to digital billing morphed to astonishment and then to excitement as the project began delivering impressive results: a 65 percent digital adoption rate, a yield increase of nearly $5 million, and more than $300,000 in print and postage savings.

Houston Methodist shared a similar eye-opening experience. Multiple business needs were effectively addressed with a digital transformation at Houston Methodist:

The ability to “get more” from their Epic investment, specifically to provide a customized patient experience based on big data
Better IVR adoption rates
Replacement of aging credit card devices
Effective engagement with a newly remote workforce

Revenue cycle managers at both organizations now have experienced the benefits of an idea that we’ve long evangelized: a ‘one-size-fits-all’ approach no longer works in healthcare financial engagement. Both videos are worth checking out if you are dealing with any similar business issues.

It’s said that “Every new beginning comes from some other beginning’s end.” That’s an inspiring thought as we look forward to the end of the global pandemic. Our Virtual Summit provided practical predictions about the evolution of healthcare engagement in the post-COVID environment—with recommendations on what to do now to make sure your organization is well positioned to succeed. If you missed that session, you can find it—along with many other insightful resources, including an informative discussion about harnessing the power of Digital Doorways—on our website now.

Here’s to a healthy, happy, and prosperous new year for you, your organization, and your patients!