Innovation in Healthcare Revenue Management: What’s Ahead for 2023

A Conversation with Jonathan Wiik, VP of Healthcare Insights at FinThrive

Jonathan Wiik, VP of Healthcare Insights, FinThrive
Twitter: @Fin_Thrive

A notable expert and author in acute care, insurance and health IT, Jonathan spent thirteen years in revenue cycle at Boulder Community Hospital, including three years as the organization’s chief revenue officer. He also served as principal healthcare strategist for TransUnion Healthcare for six years where he focused on front, middle and backend revenue cycle workflow, business needs and industry trends.

Jonathan’s two books, Healthcare Evolution: Helping Providers Get Paid in an Era of Uncertainty, and Healthcare Revolution: The Patient is the new Payer, top the healthcare finance executives’ must-read list. And his regional and national speaking sessions draw standing room only audiences on such important and timely topics as revenue cycle innovation, technology trends, and end-to-end revenue management. Jonathan is an active member and past-president with the Colorado HFMA and holds MBA, MHA, and Certified Healthcare Finance Professional credentials.

Listen to the Conversation

Episode Takeaways

  1. Staffing shortages, declining reimbursements and post-pandemic inflation create a three-headed monster of financial challenges for healthcare provider organizations
  2. Revenue management in healthcare is notorious for having dozens of vendors operating in individual silos to support each step or function in the process. This disjointed technology infrastructure isn’t sustainable.
  3. Don’t just add staff to your revenue cycle issues. Take a long, hard look at how technology can help. Whether it’s RPA, AI or ML, the tools are out there. And be cautious to not simply recreate what you already have.
  4. Our goal as an industry should be for the patient NOT to experience the revenue cycle. We can do this through better people, processes, and technology, achieving optimal patient financial satisfaction.
  5. Amid the healthcare staffing crisis, upping benefits can’t be the only solution to attract and keep top talent. Remote work relieves some of the staffing pressures, but provider organizations should also apply automation to completely re-engineer and even eliminate redundancy, making staff more efficient, effective, and satisfied.

Episode Host

Beth Friedman

Senior Partner, Health Information Lead
LinkedInBeth Friedman
Twitter: @HealthITPR

About the Show

FINN Voices amplifies the power of health innovation to improve people’s lives. Hosted by health experts from FINN Partners, each episode offers a peek behind the curtain of innovation with healthcare’s leading changemakers. We talk about their ideas and challenges along the way; continually shaping critical conversations and answering the most important questions in healthcare today.

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