Healthcare providers are always on the prowl for ways to improve their bottom line. However,…
As a senior leader of a healthcare organization, it can be challenging to balance financial pressures, patient results, and digital transformation. In a recent webinar, industry experts shared their insights and advice for senior HIT leaders to navigate these challenges successfully.
Patient Experience, Outcomes, and the Revenue Cycle
In the healthcare industry, focusing on patient outcomes and experiences is crucial to improving financial outcomes for the organization. This not only helps in achieving a good quality HCAHPS score but also creates a positive image of the organization that can help maximize patient loyalty. Starla Joyner, director of client engagement at TeleVox, emphasized the importance of focusing on patient outcomes and experiences to drive higher returns throughout the revenue cycle, “Having a good quality score is one thing, but getting that patient loyalty is another. When you can gain that loyalty, and it brings back in the revenue, so it impacts some of those final financial pressures when you’re getting that call, defunding the documentation is always a huge hit. When you’re coming into health care, quality documentation is one of those big things that help support the financial outcomes as well.”
To achieve patient loyalty, it’s crucial to provide excellent patient care and explore what additional services existing vendors can offer to deliver value in the current year. This approach can help achieve a quick return on investment while also planning for long-term goals. Vik Krishnan, president of TeleVox, advised,” “Three words, low-hanging fruit. CIO, maybe putting together two three-year transformation plans, but if there’s ROI that’s on the table, go after it. For example, talk to the current vendors you already work with, is somebody handling your appointment management already? Surely, there’s a vendor doing it. Ask them what else they can offer and deploy in 236 days to deliver value this year.”
Bring in New Ideas from Outside the Organization
Seeking a fresh view from healthcare tech vendors can bring new ideas and solutions to the organization. Healthcare tech vendors have a broad perspective of working with different hospitals and industries, which can help explore new ways to solve existing problems and drive digital transformation. Vijay Verma, a digital transformation expert, elaborates on the importance of seeking fresh perspectives from vendors,” “Broaden your horizon and talk to your current vendors and see what additional problems they can solve for you. You don’t have to make the discovery on your own. The vendors on the health tech side have a broad perspective of working with different hospitals, and in some cases, different industries as well; we can bring a fresh perspective to the table and make that happen.”
Focusing on patient experiences and exploring existing vendor capabilities and expertise can help senior HIT leadership more efficiently achieve their goals. These approaches will help achieve short-term and long-term goals while improving the organization’s performance and bottom line.
Ready to learn from peers and experts in the healthcare technology space? TeleVox hosted a refreshing, live, collaborative round table discussion on various industry topics. Watch the entire session as Starla Joyner, Kamal Anand, Vik Krishnan & Vijay Verma dive into the future of patient engagement automation and how it can help organizations meet their objectives.
Catch the entire session here.