How do you help healthcare organizations navigate the biggest challenges in healthcare?
The worldwide economic disruption caused by the coronavirus is a significant challenge that requires innovative solutions. At the same time, pre-COVID-19 hurdles, such as the increasing financial burden placed on patients, growing revenue cycle complexity and the volatility of healthcare legislation, continue to persist. Taken together, these dynamics can be overwhelming for healthcare organizations to manage on their own. At MedData, we help our partners successfully navigate these issues and simplify revenue cycle operations. For 40 years, we’ve honed our expertise, providing a broad spectrum of RCM services to hospitals of all types nationwide, delivering genuine patient advocacy with a local feel no matter where we are.
What advice would you offer to healthcare leaders when choosing among vendors?
Selecting a partner who stands out among an increasingly crowded field is a crucial decision made even more complicated by the dubious perception that RCM services have been commodified. There are some important attributes to look for that will separate the ideal partner from the rest of the pack.
For example, healthcare leaders should strongly consider an RCM company’s experience. Has it been around long enough to fully understand how federal, state and regional laws and programs, which used to be familiar and consistent, have grown in complexity and variance, including the uncertainty surrounding Medicaid expansion?
Customer service is also an essential, sometimes overlooked, attribute. Seek a company that you envision being a true partner. You want a vendor who will be responsive to your needs, understand your operations and be eager to help — not one that is only focused on its own bottom line.
Versatility is another important quality. A vendor should have a breadth of expertise and enough resources to ensure all patients have access to the best financial care. If you decide to expand, or your volumes surge, will a chosen vendor have the capability to balance all your needs?
What is some advice you can give providers for a successful implementation of a new product or service?
Initially it might be hard to pull back the curtain on your current operations. However, mutual trust and open, consistent communication are critical to any implementation. Everyone involved in the process and their investment in the project must be identified to achieve a clear understanding between teams. Maintaining a smooth exchange of information and documentation can accelerate the implementation schedule and ensure a successful go live.
- Number of years on the Short List: 11 years
- 100% of survey respondents would recommend MedData to a colleague.
- 100% of survey respondents say MedData’s service exceeds their expectations.
Information provided by Emily Fisher, President and COO, MedData.
MedData has been a tenured and trusted healthcare revenue cycle management services provider for more than 40 years, delivering technology-enabled and patient-focused RCM solutions, including Eligibility & Disability, A/R Recovery, Injury Accounts (Workers’ Comp, Auto, etc.), Veterans Administration, Patient Responsibility/Early Out, Denials Management, Unresponsive Patient Denials (COB), and Out-of-State Eligibility. MedData has patient advocates from coast to coast and experience with hospitals and health systems of all types, giving the company a nationwide presence with a local feel that’s scalable to any volume.
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