Revenue Cycle: Front & Center at HIMSS16 Knowledge Center!

March 15, 2016 by Rose Wojciechowsk, CTP Vice President, Senior Healthcare Product Manager Huntington Bank

HIMSS16 marks the first year the Revenue Cycle Improvement Task Force (RCI TF) has participated in a content-specific Knowledge Center.   Revenue Cycle Knowledge Center offerings included opportunities to attend educational sessions, participate in product demonstrations, and enjoy stimulating conversation on how industry stakeholders are responding to the rapidly changing healthcare environment, specifically as it relates to revenue cycle management.

Stuart Hanson, HIMSS RCI task force chair and John Showalter, MD, HIMSS RCI task force member kicked off the education program with an inspiring update on the task force’s vision for the Patient Financial Experience of the Future. Under Stuart’s leadership, the task force has been able to apply its vision to a complex medical scenario involving multiple disparate providers delivering care in a variety of settings.  Visitors to the Knowledge Center were able to see the vision in action by accessing an onsite Kiosk and walking through the patient’s experience.  Stuart and John provided a list of upcoming activities on the RCI’s agenda and gave a heartfelt call-out to all visitors to get involved!

Task force members Ron Bissetta and Penny Osmon Bahr presented the “Roadmap to the Future,” a discussion focused on the technology gaps between the current state of revenue cycle management and the task force’s vision for the future.  The analysis focused on immediate access to a patient’s health insurance information, and medical and financial data to facilitate shared real-time clinical and financial decision making between the patient and his/her clinician.  An important take-away is that the gap may not be as wide as one would think – there are a number of innovative solutions already in play that will address or could be leveraged to address identified gaps.  In March the task force will post a white paper to its website outlining their findings.

Industry experts Sandra Wolfskill (HFMA) and Sandra Johnson (Johns Hopkins) shared proven best practices and technological advances providers can use today to move the industry towards the Patient Financial Experience of the Future.  The first thing to understand is that patient communication is one of the primary areas to be addressed.  Communication must be combined with price transparency.  Industry stakeholders must come together to overcome existing technological and cultural barriers. 

Finally, HIMSS Senior Director of Market Research, Jennifer Horowitz, was joined by subject matter experts Barbara McAneny, MD, CEO, New Mexico Cancer Center/NMOHC, Ltd. and Jeffery D. Hurst, Senior Vice President/Senior Finance Officer, Florida Hospital (Adventist Health System) to share results of the first annual HIMSS Healthcare Cost Accounting Survey.  The study found that while most providers are participating in alternative payment programs, very few are prepared to move into a value-based payment model due to lack of resources and tools to support this new environment.  Pricing transparency, information exchange and a true understanding of the costs and profit associated with the delivery of care is necessary in order to embrace value-based payments.  HIMSS is creating a task force to prioritize the industry’s needs and engage strategic partners on identifying solutions to fill the gaps that exist today.

Links to these and other Revenue Cycle Knowledge Center presentations may be found at the HIMSS16 website.

Bio: Rose Wojciechowski is a Certified Treasury Professional with more than 30 years of experience in the finance industry and has spent the last 10 years focused on revenue cycle payments and optimization.  Rose is a member of the HIMSS Revenue Cycle Improvement Task Force and was a former Health Business Solutions Committee member. 

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