Healthcare

Leveraging EHR for Effective RCM

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<h2 class="MsoNormal" style="text-align: justify;" align="center"><span style="font-size: 12pt;">Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?</span></h2><p class="MsoNormal" style="text-align: justify;">I started my journey in healthcare 23 years ago with perhaps the country&rsquo;s first and only paperless hospital! But of course, we were too early in the game for that and had to change quite quickly!</p><p class="MsoNormal" style="text-align: justify;">Over the years, I grew from a shop floor manager to leading startups of new &lsquo;localized&rsquo; concepts, building healthcare SMEs from scratch under different corporate banners, and doing business process reengineering for multiple hospitals. I have worked in different parts of the healthcare service delivery sector ( tertiary care hospitals, secondary care hospitals, small boutique hospitals, diagnostics, mental health ), healthcare IT (data analytics, education), medical devices (toxicology), and now healthcare fintech.&nbsp;</p><p class="MsoNormal" style="text-align: justify;">I have shared my healthcare experiences through various articles published in AHHM, a digital healthcare magazine.</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;">Q2. What are the key factors driving the adoption of RCM outsourcing among healthcare providers?</span></h2><p class="MsoNormal" style="text-align: justify;">Clinician-run hospitals can build good clinical practices but lag behind in administrative detail. RCM is a core requirement to ensure that money spent is recovered, and RCM outsourcing is a growing concept driven by the practices that exist in the West.&nbsp;</p><p class="MsoNormal" style="text-align: justify;">However, we need to understand the critical bits before we do that.</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;">Q3. How are integrated EHR-RCM systems performing compared to standalone RCM solutions?</span></h2><p class="MsoNormal" style="text-align: justify;">Aggregation and tech play a huge role in supporting outsourced services with cost optimization. A good EHR, when used properly, can support the RCM easily.&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;">Q4. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?</span></h2><p class="MsoNormal" style="text-align: justify;">If I were an investor, I would ask the following questions-</p><ul style="margin-top: 0cm; text-align: justify;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;">What is the tech like - what details does it capture?&nbsp;</li><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;">What benefits will the company deliver- TAT for submitting, TAT for recovery, percentage of deductions, and Manpower model?</li></ul><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;"><strong><span style="font-size: 12.0pt; line-height: 107%; font-family: 'Verdana',sans-serif;">Expert Summary</span></strong></p><p class="MsoNormal" style="text-align: justify;">The expert&rsquo;s enthusiasm for exploring innovative approaches in healthcare has provided her with valuable cross-domain exposure, encompassing hospital services, medical devices, healthcare IT, retail healthcare, and mental health.</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p>
KR Expert - Gurrit Kaur Sethi

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