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VOL: 10 ISSUE: 02 2023
Nurturing Health:
A Timeless Asset in
a Changing World
Health is a priceless treasure, and its importance
becomes crystal clear when it's compromised. In a
world that's always changing, healthcare faces
constant challenges that call for creative and flexible
solutions to safeguard this invaluable asset. Winston
Churchill nailed it when he said, "Healthy citizens are the
greatest asset any country can have." Today, these words
ring truer than ever, emphasizing that individual health isn't
just a personal matter but a cornerstone for the prosperity
and resilience of entire nations.
Navigating the healthcare landscape isn't easy. From new
technologies to global health crises, healthcare
administrators juggle a range of challenges, like rising costs
and the need for personalized, accessible services. This
ever-evolving field demands a proactive, progressive
approach where innovation meets the timeless values of
care and compassion.
Taking care of a nation's health is a team effort.
Communities need to get involved, raising awareness,
advocating for better policies, and creating a culture of
wellness. When people are informed about their health,
make proactive choices, and support policies prioritizing
public well-being, it leads to a healthier society.
In our latest edition of The CIO World, "How
ImagineSoftware is Changing the Game for Healthcare
Revenue Cycle Management," we dig into the world of
Healthcare Revenue Cycle Management (HRCM). This
aspect is crucial for the financial health of healthcare
organizations. Our focus is on ImagineSoftware, a
disruptive game-changer altering the landscape.
Join us in this exploration as we dissect the heartbeat of
healthcare revenue cycle management, illuminating the path
towards a healthier, more financially sound future for the
entire healthcare community. After all, in the pursuit of
well-being, every financial heartbeat plays a crucial role in
sustaining the pulse of healthcare excellence.
Have a Great Read Ahead!
urpose is the foundation upon
Pwhich successful businesses are
built. It serves as the guiding
star, providing direction and meaning
to every action and decision. This
purpose goes beyond the simple
pursuit of wealth; it encapsulates the
desire to make a difference, to bring
about positive change in the world, and
to leave a lasting impact. Consider
some of the most iconic companies in
the world today. Tesla, for instance, has
a purpose that extends far beyond
manufacturing electric vehicles; it is
driven by a mission to accelerate the
world’s transition to sustainable
energy.
Interestingly, businesses that are
deeply connected to a sense of purpose
often tend to be the most profitable.
Why? Because when a company’s
mission resonates with its employees
and customers, it fosters a level of
dedication and loyalty that goes
beyond financial incentives. People
want to be part of something
meaningful, something that aligns with
their values and beliefs.
Similarly, in the year 2000, a visionary
named Sam Khashman, Founder,
President, and Chief Executive
Officer embarked on a journey to
transform healthcare IT. With a clear
purpose and an unrelenting
commitment to innovation, he laid the
foundation for ImagineSoftware, a
company that would redefine the
landscape of healthcare revenue cycle
management. Its story begins with a
mission to revolutionize the healthcare
industry by reducing manual processes
and inefficiencies in billing and
revenue cycle management. Khashman
and his team recognized the immense
potential for automation in healthcare,
especially within the complex realm of
radiology.
The company’s commitment to
automation was crystal clear. They
aimed to create a platform that
minimized human intervention,
eliminated redundant tasks, and
maximized efficiency. The driving
force behind their efforts was a belief
that if they could imagine it, they could
make it a reality. This simple yet
profound philosophy became the
cornerstone of ImagineSoftware’s
identity.
Its journey was not just about
technology; it was about empowering
healthcare professionals. They
understood that healthcare providers
needed a solution that would
streamline their operations, reduce
administrative burdens, and allow them
to focus on what truly matters – patient
care.
Over the course of the past two
decades, ImagineSoftware has
delivered on its pledge. Presently, they
cater to over 75,000 physicians
spanning diverse specialties in all 50
states. Their pioneering solutions have
not only simplified revenue cycle
management but have also established
new benchmarks for excellence within
the industry.
Beneath the surface of
ImagineSoftware’s triumph lies a
culture deeply ingrained in innovation,
accountability, and integrity. These
fundamental values are not mere
buzzwords but guiding principles that
shape every facet of the company’s
operations. The team’s steadfast “No-
excuses attitude” propels them to
surmount challenges and offer dynamic
healthcare software solutions.
Below are the highlights of the
interview:
Visionary: Simplifying Complex
Processes
Sam embarked on a journey that
initially focused on high-volume
transactions in various sectors,
including manufacturing, finance, and
insurance. Throughout these
experiences, he realized the significant
impact of technology on workflows,
efficiency, and automation. This
realization shaped his perspective on
developing single-platform software
solutions that can cater to the specific
needs of individual clients while also
serving the broader industry.
Sam’s ongoing fascination with
intelligence, user behaviors, and
process enhancements has played a
crucial role in simplifying complex
processes, particularly in light of the
ever-evolving technological landscape.
He has accumulated extensive
expertise in healthcare IT, systems
integration, and workflow-centric
computer systems. By gaining valuable
insights, collaborating with exceptional
clients, and maintaining a can-do
attitude, he has made valuable
contributions to the development and
commercialization of more than 25
software products across all 50 states.
Innovation and Integrity in Action
ImagineSoftware’s core values serve as
a guiding compass for every decision
made by the company. Sam says, “At
ImagineSoftware, our core values
aren't just words on a wall; they are
the compass guiding every decision we
make. We deeply resonate with and
embody these values in our daily
actions.” They actively incorporate
these principles into all conversations,
whether they be internal team
discussions, client interactions, or
broader market engagements.
The values are given utmost
importance in meetings, presentations,
and company events.
At the core of its ethos are two
fundamental values: innovation and
integrity. In the field of healthcare
information technology, innovation is
not just a mere buzzword but a crucial
perspective that drives the company
forward. Employees are empowered to
continuously reassess their roles and
collaborate, working towards collective
success. Sam, a member of the team,
emphasizes the importance of
approaching challenges proactively
and embracing a servant leadership
philosophy. Prioritizing clients,
partners, and colleagues is paramount
to its beliefs. The company’s standing
in the industry is a testament to its
unwavering commitment to these
ideals.
Strategic Focus on Anticipation and
Patient-centric Solutions
ImagineSoftware, as emphasized by
Sam, places paramount importance on
proactive anticipation and strategic
foresight. The company’s commitment
to staying ahead is evident through its
close engagement with clients and
partners, ensuring it remains in sync
with their ever-evolving needs. By
staying well-informed about industry
developments, it proactively tracks
emerging trends, critical events, and
legislative changes that may shape the
healthcare landscape. This potent blend
of market intelligence and direct client
feedback not only fuels innovation but
consistently positions the company
ahead of its competitors.
Moreover, ImagineSoftware adopts a
patient-centric approach in the design
of its revenue cycle solutions.
Acknowledging that patients are the
ultimate stakeholders in healthcare, the
company is dedicated to delivering
clear, accurate, and user-friendly
billing experiences.
Enhancing the patient’s journey is not
just good for business but also deeply
personal. As individuals who may also
be patients themselves, it is resolute in
making the healthcare payment process
as seamless as possible for all parties
involved.
Evolution Over the Past 20 Years
ImagineSoftware has played a crucial
role in revolutionizing various business
solutions, particularly in the healthcare
technology sector. Through innovation
and a steadfast commitment to
excellence, the company has
successfully consolidated complex
processes into streamlined, all-in-one
solutions. With expertise in systems
integration, process efficiency, and
imaging systems, ImagineSoftware has
emerged as a leader in revenue cycle
management (RCM). They have
developed and commercialized over 25
software products, serving an
astounding 300 million American
patients annually across all 50 states.
In their continuous pursuit of
advancing medical revenue cycle
management systems,
ImagineSoftware has obtained Patent
No. 11,398,300 B2 from the United
States Patent and Trademark Office
(USPTO). This patent recognizes their
pioneering efforts in creating a
predictive coding-based medical
diagnostic platform capable of
extrapolating diagnoses, treatments,
and estimated costs using various
factors. With this cutting-edge data
processing capability, ImagineSoftware
can continue to harness the power of
data expansion in the RCM process.
Imagine has established itself as a
reliable partner for clients, and the
company aims to extend its excellent
reputation to other areas within the
healthcare industry. With a focus on
growth, innovation, and expansion, it
continues to develop new specialties,
products, and services. The field of
healthcare technology is constantly
evolving, and earlier this year, the team
™
introduced ImagineOne , an advanced
revenue cycle management (RCM)
technology that serves as the flagship
product in the Imagine suite. This
cutting-edge platform incorporates two
decades of experience, learning from
challenges, incorporating feedback
from thousands of requests and
suggestions, and providing extensive
support to over 4,000 practices and
more than 3 billion patient visits.
™
ImagineOne is a cutting-edge
platform that leverages Artificial and
Natural Intelligence and Robotic
Process Automation to deliver
innovative automation solutions. It is
designed to streamline operations and
enhance productivity for independent
physician groups, medical billing
organizations, and healthcare systems.
As a single-source, end-to-end
™
platform, ImagineOne seamlessly
integrates with all Imagine systems and
certified partner products. This
integration optimizes revenue cycle
processes, allowing organizations to
achieve their goals effectively and
reduce billing costs by over 75%.
One of the standout features of
™
ImagineOne is its upgraded UI
platform, built on the fastest
framework available. This user-
friendly interface takes autonomous
billing to new heights, providing
enhanced usability and a fresh design.
It is widely regarded as the most
powerful billing system in the industry.
™
ImagineOne offers a comprehensive
approach, covering everything from
pre- and point-of-service to zero
balance. This means that healthcare
professionals can rely on a fully
functional system that supports their
workflow from start to finish.
By eliminating manual tasks and
™
streamlining processes, ImagineOne
allows professionals to focus on what
they do best — providing exceptional
patient care.
™
With ImagineOne , ImagineSoftware
is at the forefront of the healthcare
technology revolution. The platform
equips healthcare professionals with
the necessary tools to optimize revenue
cycle processes, improve patient care,
and reduce costs. It is a game-changer
in the industry, empowering
organizations to achieve new levels of
efficiency and success.
Commitment to Giving Back
ImagineSoftware is committed to
giving back to communities and
making a positive impact. They go
beyond just providing products and
services, striving to support the people
and communities that have supported
them. It encourages employees,
partners, and clients to also make a
difference in their communities. They
are proud when employees take the
initiative to raise awareness for causes
they care about, inspiring others to get
involved.
ImagineSoftware supports employees’
charitable work by offering up to 8
hours of paid volunteer time off (VTO)
each year, allowing them to participate
in activities of their choice.
Additionally, through their internal
charitable giving program,
™
ImagineGives , they amplify the
impact of employees' charitable
donations by matching contributions to
eligible non-profit organizations. They
also organize quarterly projects for
participation across all office locations
and remote groups.
Making Thanksgiving Special for
Families in Need
Each year, ImagineSoftware initiates
numerous projects, one of which has a
significant impact on the Charlotte
area, where the company’s
headquarters are located. This project
involves an annual partnership with
Charlotte Rescue Mission aimed at
packing Thanksgiving food boxes for
families in need. ImagineSoftware
employees from across the country
contribute their time or funds to
support this initiative. As a result of the
team’s contributions, it has been able
to provide Thanksgiving meals to over
500 families in Charlotte and nearby
communities. Additionally, the
company has donated thousands of
dollars to support Charlotte Rescue
Mission's ongoing outreach efforts
throughout the year.
Fostering a Culture of Giving Back
™
The ImagineGives program is
dedicated to aligning with the vision
and mission of ImagineSoftware. This
alignment is made possible by the
support of their team. By investing in
their employees, ImagineSoftware is
able to invest in the communities they
serve by supporting organizations that
are meaningful to their employees. It
recognizes its role in contributing to an
inclusive world and strives to lead with
its values and beliefs, allowing
employees to reach their full potential
in the workplace. Their culture of
diversity and inclusion fosters more
creative thinking and innovative ideas
to address a diverse market.
ImagineSoftware believes in hiring
driven individuals from all
backgrounds because it not only makes
them a great company but is also the
right thing to do. Their efforts in this
area were acknowledged last year
when they received a RAD Honors
award from the Radiology Business
Management Association (RBMA).
This award recognized
ImagineSoftware as the 2022 Culture
and Well-Being winner for their
commitment to employee growth and
advancement, equity, employee
morale, and work-life balance. The
™
ImagineGives program contributes to
their company culture and provides
employees with a way to feel valued
while offering support and appreciation
to their communities.
40+ Medical Specialties
ImagineSoftware’s revenue cycle
management solutions are widely
adopted by more than 40 medical
specialties across the nation.
These solutions cater to high-volume
physician practices, clinics, infusion centers,
and medical billing organizations. Originally
founded in the radiology industry,
ImagineSoftware primarily served
independently owned radiology practices and
imaging centers. However, as their technology
evolved, they expanded their clientele to
include pathology, anesthesiology, emergency
medicine, and other medical specialties.
Future of Healthcare Billing
In today’s interconnected world, technology
plays a vital role in optimizing our daily
routines and improving overall quality.
ImagineSoftware is at the forefront of
leveraging artificial intelligence and nurturing
partnerships, with a focus on providing
cutting-edge software tools to streamline
healthcare billing and ensure swift
reimbursement. Sam’s team and he are deeply
interested in the convergence of medical
advancements and technology, which is poised
to expand ImagineSoftware’s presence in the
healthcare industry. The mission is clear: to
continuously innovate and deliver
unparalleled technology, accompanied by
exceptional customer support. Moving
forward, it is excited to explore additional
specialties, enabling more stakeholders to
benefit from its unique value proposition.
Where Possibilities Defy Expectations
Sam feels honored to be a member of this
team, as the high energy, level of engagement,
and drive displayed by the team members
continue to impress him on a daily basis. This
company, ImagineSoftware, serves as proof
that anything is achievable. Despite
skepticism from others in the market, the
company has repeatedly proven them wrong
through their unwavering determination,
creativity, speed, and kindness. The secret to
their success lies in their practice of servant
leadership, which prioritizes the needs of their
team members, clients, prospects, and
partners. By truly listening, anticipating, and
treating others well, they have achieved
remarkable success both as a company and for
their clients.
This success serves as a reminder that
with a growth mindset, creativity, and
tenacity, any obstacle can be overcome.
The Imagine team knows no limits, and
Sam takes immense pride in being a part
of it.
Raving Rewards and Reviews
“Imagine offers Flexibility...it allows you
to identify trends, look at your data, and
proactively look for solutions.”
- Cristina Arredondo, Director of
Revenue Cycle
“ImagineSoftware is a key technology
partner... Implementing critical changes,
together.”
- Basak Ertan, Chief Revenue Officer
“We increased our productivity by 400%
without adding any additional staff.
That's incredible. Imagine creating that
environment.”
– Dr. Cory Wilson, Emergency Physician
and Chief Executive Officer
“Imagine has taken the administrative
headaches of practice management off
my plate, giving me more time to be a
pathologist.”
– Dr. Kevin Homer, Pathologist and
Chief Executive Officer
Accolades:
• Charlotte Metro Area Top
Workplaces
• Top 25 Women Leaders in
Healthcare Software – Jessica
Chasteen, Chief Talent Officer
• Top 100 Healthcare Technology
Companies
• Annual Inc. 5000 List
• Business North Carolina Top 125
Private Companies
• Culture & Well Being Award by the
Radiology Business Management
Associatio
How ImagineSo ware
Empowers its Clients
Medical billing is a critical aspect of healthcare
administration, ensuring that healthcare
providers receive appropriate reimbursement for
their services. However, this intricate process is riddled
with challenges that often lead to inefficiencies and
financial setbacks. One of the key hurdles faced by medical
billing professionals is the management and streamlining of
documentation.
In this article, we will explore some of the prevalent
challenges in medical billing and delve into strategies for
overcoming them, with a particular focus on the importance
of documentation streamlining.
• Coding Errors: One of the primary challenges in
medical billing is the occurrence of coding errors.
Inaccurate or incomplete coding can lead to claim
denials, delayed payments, and even legal
complications. Healthcare providers must ensure that
medical codes accurately represent the services
provided to patients. Regular training for coders and
the implementation of advanced coding software can
significantly reduce errors and enhance accuracy.
• Incomplete Patient Information: Medical billing
relies heavily on comprehensive patient information.
Incomplete or inaccurate patient details can result in
claim denials or delays in reimbursement. To overcome
this challenge, healthcare providers should implement
robust systems for collecting and verifying patient
information during the initial stages of treatment.
Integrating electronic health records (EHR) systems
can streamline this process, ensuring that all necessary
information is captured and readily available for billing
purposes.
Common Challenges in
Medical Billing
and How to Overcome Them
• Claim Denials and Rejections: Claim denials and
rejections are common hurdles in the medical billing
process. Understanding the reasons behind denials and
rejections is crucial for addressing these issues
effectively. It is essential to regularly analyze denied
claims, identify patterns, and implement corrective
measures. This may involve improved training for
billing staff, enhanced communication with payers, and
the use of technology to identify and rectify errors
before claims are submitted.
• Complex Insurance Policies: The intricacies of
various insurance policies can pose a significant
challenge for medical billing professionals. Each
insurance plan may have unique requirements,
coverage limitations, and submission protocols. To
overcome this challenge, healthcare providers should
invest in staff training to stay updated on the latest
changes in insurance policies. Additionally, employing
technology solutions that can automatically verify
insurance eligibility and coverage details can
streamline the billing process and minimize errors.
• Regulatory Compliance: The healthcare industry is
subject to a myriad of regulations and compliance
standards. Keeping up with these ever-evolving
requirements is a continuous challenge for medical
billing teams. Establishing a robust compliance
management system and providing ongoing training to
staff can help ensure adherence to regulatory standards.
Implementing technology solutions that automate
compliance checks can further enhance accuracy and
efficiency in the billing process.
Facilita ng Documenta on Streamlining!
• Delayed Payments: Delayed payments can strain the
financial health of healthcare providers. Identifying and
addressing the root causes of delayed payments is
crucial for maintaining a steady cash flow. Streamlining
documentation processes can play a pivotal role in
expediting payments. By ensuring that all required
documentation is complete and accurate at the time of
claim submission, healthcare providers can reduce the
likelihood of payment delays.
• Communication Gaps: Effective communication is
essential in the medical billing process, both within the
healthcare facility and with external stakeholders such
as insurance companies. Communication gaps can lead
to misunderstandings, errors, and delays. Implementing
clear communication protocols, utilizing secure
electronic communication channels, and fostering
collaboration between billing and clinical staff can help
bridge these gaps and enhance the overall efficiency of
the billing workflow.
Documentation Streamlining as a Solution:
Amidst these challenges, a key solution that emerges is the
streamlining of documentation processes. Efficient
documentation not only addresses many of the common
challenges in medical billing but also serves as a proactive
measure to prevent errors and delays. Here are ways in
which documentation streamlining can be achieved:
1. Investing in Electronic Health Records (EHR):
• Implementing EHR systems enables healthcare
providers to maintain comprehensive and
standardized electronic records of patient
information.
• EHR systems facilitate seamless communication
between clinical and billing staff, reducing the
likelihood of missing or inaccurate information.
2. Automation of Coding Processes:
• Utilizing advanced coding software can automate the
coding process, reducing the risk of errors and
ensuring compliance with coding standards.
• Automation not only improves accuracy but also
accelerates the coding workflow, enhancing overall
efficiency in medical billing.
3. Real-time Eligibility Verification:
• Implementing real-time eligibility verification tools
can help validate patient insurance information at the
point of service.
• This proactive approach ensures that billing staff
have accurate information before submitting claims,
reducing the likelihood of claim denials.
4. Centralized Documentation Management:
• Establishing a centralized system for managing
documentation ensures that all relevant information
is consistently recorded and easily accessible.
• Centralization promotes consistency in
documentation practices across different departments
within a healthcare facility.
5. Regular Training Programs:
• Conducting regular training programs for both
clinical and billing staff ensures that they are well-
versed in the latest coding standards, regulatory
requirements, and documentation best practices.
• Training programs contribute to a culture of
continuous improvement and professional
development.
6. Utilization of Artificial Intelligence (AI):
• Integrating AI technologies can enhance the
accuracy of coding and documentation processes by
leveraging machine learning algorithms to identify
patterns and anomalies.
• AI can also assist in predicting potential issues that
may lead to claim denials, allowing for preemptive
corrective actions.
Conclusion:
Addressing challenges in medical billing is imperative for a
streamlined and effective healthcare ecosystem. Through
proactive measures such as continuous staff training,
integration of technology solutions, and regular audits, the
healthcare industry can navigate the complexities of coding,
patient information accuracy, and claim denials. These
strategies collectively pave the way for a more efficient,
accurate, and sustainable medical billing process.
- Alaya Brown
Patient experience is a paramount consideration,
encompassing not only the clinical encounter but
also the administrative processes that surround it.
Efficient medical billing practices play a crucial role in
shaping a positive patient experience.
Today, the emphasis on patient experience has evolved
beyond the confines of clinical interactions to encompass
every facet of a patient's journey, including the often
complex domain of medical billing. Recognizing that the
financial aspect of healthcare is an integral part of the
overall patient experience, healthcare providers are
increasingly prioritizing the need for efficient medical
billing practices. This commitment goes beyond mere fiscal
responsibility; it is a strategic endeavor to foster
transparency, alleviate financial stress, and ultimately
enhance the quality of care delivered.
In this article, we will explore the significance of
communication in the context of medical billing and discuss
strategies to enhance communication efficacy for an
improved overall patient experience.
The Crucial Role of Medical Billing in Patient Experience:
• Financial Transparency: Transparent communication
about healthcare costs and billing procedures is
fundamental to fostering trust between healthcare
providers and patients. Lack of clarity regarding
medical expenses can lead to confusion, frustration,
and a diminished overall perception of care quality.
Improving Patient
Experience
through Efcient
Medical Billing
Practices
Strategy: Implement clear and concise communication
strategies to inform patients about their financial
responsibilities before, during, and after medical
services. Provide accessible resources, such as financial
counseling services, to address patient inquiries.
• Timely and Accurate Billing Information: Delays in
billing or inaccuracies in statements can contribute to
patient dissatisfaction. Patients appreciate timely and
accurate information about their bills, insurance claims,
and any associated financial responsibilities.
Strategy: Utilize technology solutions to automate
billing processes, reducing the likelihood of delays and
errors. Implement regular training for billing staff to
enhance accuracy in coding and claims submission.
• Accessible Payment Options: Offering flexible and
accessible payment options is crucial for
accommodating diverse patient needs. A one-size-fits-
all approach to billing may not align with the financial
preferences and capabilities of all patients.
Strategy: Provide multiple payment options, including
online portals, installment plans, and clear instructions
for payment arrangements. Clearly communicate these
options to patients at the time of billing.
• Effective Communication Channels: The
communication channels used for billing-related
information should be efficient and easily accessible to
patients.
Augmen ng Communica on Efficacy!
Inefficient communication methods, such as confusing
paper statements, can lead to misunderstandings and
frustration.
Strategy: Leverage modern communication channels,
including secure online portals, email, and text
messaging, to provide patients with clear and timely
billing information. Ensure that patients are aware of
these channels and can easily opt for their preferred
method of communication.
• Augmenting Communication Efficacy in Medical
Billing: Implement Patient-Focused Training for Staff:
Medical billing staff should be equipped with the skills
to communicate effectively with patients. Implement
training programs that focus on empathetic
communication, active listening, and the ability to
convey complex billing information in a clear and
understandable manner.
Benefits: Improved patient-staff interactions, enhanced
trust, and increased patient satisfaction.
• Utilize Patient-Friendly Language: Billing statements
and communications should be written in plain, easily
understandable language. Avoiding complex medical
jargon and using patient-friendly terminology can
alleviate confusion and empower patients to make
informed decisions about their healthcare finances.
Benefits: Increased patient comprehension, reduced
confusion, and a more positive perception of the billing
process.
• Provide Personalized Communication: Recognize the
diverse needs of patients and tailor communication
accordingly. Personalized communication that takes
into account the patient's specific situation, including
insurance coverage and financial constraints, can
enhance the overall patient experience.
Benefits: Increased patient engagement, enhanced
satisfaction, and improved adherence to payment plans.
• Offer Proactive Communication: Proactively
communicate with patients regarding upcoming
appointments, expected bills, and any changes in
billing policies. Being transparent and keeping patients
informed can prevent surprises and foster a sense of
trust in the healthcare provider.
Benefits: Reduced patient anxiety, increased
compliance with billing processes, and a more positive
perception of the healthcare experience.
Conclusion:
The journey toward improving patient experience through
efficient medical billing practices is an imperative endeavor
that extends far beyond financial transactions. By
prioritizing transparency, empathy, and accessibility in the
billing process, healthcare providers have the opportunity to
alleviate the burdens associated with medical expenses and
contribute positively to the overall well-being of patients.
- Alaya Brown
Subscription
CIO
www.thecioworld.com

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How ImagineSoftware is Changing the Game for Healthcare Revenue Cycle Management.pdf

  • 1. VOL: 10 ISSUE: 02 2023
  • 2.
  • 3.
  • 4. Nurturing Health: A Timeless Asset in a Changing World Health is a priceless treasure, and its importance becomes crystal clear when it's compromised. In a world that's always changing, healthcare faces constant challenges that call for creative and flexible solutions to safeguard this invaluable asset. Winston Churchill nailed it when he said, "Healthy citizens are the greatest asset any country can have." Today, these words ring truer than ever, emphasizing that individual health isn't just a personal matter but a cornerstone for the prosperity and resilience of entire nations. Navigating the healthcare landscape isn't easy. From new technologies to global health crises, healthcare administrators juggle a range of challenges, like rising costs and the need for personalized, accessible services. This ever-evolving field demands a proactive, progressive approach where innovation meets the timeless values of care and compassion. Taking care of a nation's health is a team effort. Communities need to get involved, raising awareness, advocating for better policies, and creating a culture of wellness. When people are informed about their health, make proactive choices, and support policies prioritizing public well-being, it leads to a healthier society.
  • 5. In our latest edition of The CIO World, "How ImagineSoftware is Changing the Game for Healthcare Revenue Cycle Management," we dig into the world of Healthcare Revenue Cycle Management (HRCM). This aspect is crucial for the financial health of healthcare organizations. Our focus is on ImagineSoftware, a disruptive game-changer altering the landscape. Join us in this exploration as we dissect the heartbeat of healthcare revenue cycle management, illuminating the path towards a healthier, more financially sound future for the entire healthcare community. After all, in the pursuit of well-being, every financial heartbeat plays a crucial role in sustaining the pulse of healthcare excellence. Have a Great Read Ahead!
  • 6.
  • 7.
  • 8.
  • 9. urpose is the foundation upon Pwhich successful businesses are built. It serves as the guiding star, providing direction and meaning to every action and decision. This purpose goes beyond the simple pursuit of wealth; it encapsulates the desire to make a difference, to bring about positive change in the world, and to leave a lasting impact. Consider some of the most iconic companies in the world today. Tesla, for instance, has a purpose that extends far beyond manufacturing electric vehicles; it is driven by a mission to accelerate the world’s transition to sustainable energy. Interestingly, businesses that are deeply connected to a sense of purpose often tend to be the most profitable. Why? Because when a company’s mission resonates with its employees and customers, it fosters a level of dedication and loyalty that goes beyond financial incentives. People want to be part of something meaningful, something that aligns with their values and beliefs. Similarly, in the year 2000, a visionary named Sam Khashman, Founder, President, and Chief Executive Officer embarked on a journey to transform healthcare IT. With a clear purpose and an unrelenting commitment to innovation, he laid the foundation for ImagineSoftware, a company that would redefine the landscape of healthcare revenue cycle management. Its story begins with a mission to revolutionize the healthcare industry by reducing manual processes and inefficiencies in billing and revenue cycle management. Khashman and his team recognized the immense potential for automation in healthcare, especially within the complex realm of radiology.
  • 10. The company’s commitment to automation was crystal clear. They aimed to create a platform that minimized human intervention, eliminated redundant tasks, and maximized efficiency. The driving force behind their efforts was a belief that if they could imagine it, they could make it a reality. This simple yet profound philosophy became the cornerstone of ImagineSoftware’s identity. Its journey was not just about technology; it was about empowering healthcare professionals. They understood that healthcare providers needed a solution that would streamline their operations, reduce administrative burdens, and allow them to focus on what truly matters – patient care. Over the course of the past two decades, ImagineSoftware has delivered on its pledge. Presently, they cater to over 75,000 physicians spanning diverse specialties in all 50 states. Their pioneering solutions have not only simplified revenue cycle management but have also established new benchmarks for excellence within the industry. Beneath the surface of ImagineSoftware’s triumph lies a culture deeply ingrained in innovation, accountability, and integrity. These fundamental values are not mere buzzwords but guiding principles that shape every facet of the company’s operations. The team’s steadfast “No- excuses attitude” propels them to surmount challenges and offer dynamic healthcare software solutions. Below are the highlights of the interview: Visionary: Simplifying Complex Processes Sam embarked on a journey that initially focused on high-volume transactions in various sectors, including manufacturing, finance, and insurance. Throughout these experiences, he realized the significant impact of technology on workflows, efficiency, and automation. This realization shaped his perspective on developing single-platform software solutions that can cater to the specific needs of individual clients while also serving the broader industry. Sam’s ongoing fascination with intelligence, user behaviors, and process enhancements has played a crucial role in simplifying complex processes, particularly in light of the ever-evolving technological landscape. He has accumulated extensive expertise in healthcare IT, systems integration, and workflow-centric computer systems. By gaining valuable insights, collaborating with exceptional clients, and maintaining a can-do attitude, he has made valuable contributions to the development and commercialization of more than 25 software products across all 50 states. Innovation and Integrity in Action ImagineSoftware’s core values serve as a guiding compass for every decision made by the company. Sam says, “At ImagineSoftware, our core values aren't just words on a wall; they are the compass guiding every decision we make. We deeply resonate with and embody these values in our daily actions.” They actively incorporate these principles into all conversations, whether they be internal team discussions, client interactions, or broader market engagements.
  • 11.
  • 12.
  • 13. The values are given utmost importance in meetings, presentations, and company events. At the core of its ethos are two fundamental values: innovation and integrity. In the field of healthcare information technology, innovation is not just a mere buzzword but a crucial perspective that drives the company forward. Employees are empowered to continuously reassess their roles and collaborate, working towards collective success. Sam, a member of the team, emphasizes the importance of approaching challenges proactively and embracing a servant leadership philosophy. Prioritizing clients, partners, and colleagues is paramount to its beliefs. The company’s standing in the industry is a testament to its unwavering commitment to these ideals. Strategic Focus on Anticipation and Patient-centric Solutions ImagineSoftware, as emphasized by Sam, places paramount importance on proactive anticipation and strategic foresight. The company’s commitment to staying ahead is evident through its close engagement with clients and partners, ensuring it remains in sync with their ever-evolving needs. By staying well-informed about industry developments, it proactively tracks emerging trends, critical events, and legislative changes that may shape the healthcare landscape. This potent blend of market intelligence and direct client feedback not only fuels innovation but consistently positions the company ahead of its competitors. Moreover, ImagineSoftware adopts a patient-centric approach in the design of its revenue cycle solutions. Acknowledging that patients are the ultimate stakeholders in healthcare, the company is dedicated to delivering clear, accurate, and user-friendly billing experiences.
  • 14. Enhancing the patient’s journey is not just good for business but also deeply personal. As individuals who may also be patients themselves, it is resolute in making the healthcare payment process as seamless as possible for all parties involved. Evolution Over the Past 20 Years ImagineSoftware has played a crucial role in revolutionizing various business solutions, particularly in the healthcare technology sector. Through innovation and a steadfast commitment to excellence, the company has successfully consolidated complex processes into streamlined, all-in-one solutions. With expertise in systems integration, process efficiency, and imaging systems, ImagineSoftware has emerged as a leader in revenue cycle management (RCM). They have developed and commercialized over 25 software products, serving an astounding 300 million American patients annually across all 50 states. In their continuous pursuit of advancing medical revenue cycle management systems, ImagineSoftware has obtained Patent No. 11,398,300 B2 from the United States Patent and Trademark Office (USPTO). This patent recognizes their pioneering efforts in creating a predictive coding-based medical diagnostic platform capable of extrapolating diagnoses, treatments, and estimated costs using various factors. With this cutting-edge data processing capability, ImagineSoftware can continue to harness the power of data expansion in the RCM process. Imagine has established itself as a reliable partner for clients, and the company aims to extend its excellent reputation to other areas within the healthcare industry. With a focus on growth, innovation, and expansion, it continues to develop new specialties, products, and services. The field of healthcare technology is constantly evolving, and earlier this year, the team ™ introduced ImagineOne , an advanced revenue cycle management (RCM) technology that serves as the flagship product in the Imagine suite. This cutting-edge platform incorporates two decades of experience, learning from challenges, incorporating feedback from thousands of requests and suggestions, and providing extensive support to over 4,000 practices and more than 3 billion patient visits. ™ ImagineOne is a cutting-edge platform that leverages Artificial and Natural Intelligence and Robotic Process Automation to deliver innovative automation solutions. It is designed to streamline operations and enhance productivity for independent physician groups, medical billing organizations, and healthcare systems. As a single-source, end-to-end ™ platform, ImagineOne seamlessly integrates with all Imagine systems and certified partner products. This integration optimizes revenue cycle processes, allowing organizations to achieve their goals effectively and reduce billing costs by over 75%. One of the standout features of ™ ImagineOne is its upgraded UI platform, built on the fastest framework available. This user- friendly interface takes autonomous billing to new heights, providing enhanced usability and a fresh design. It is widely regarded as the most powerful billing system in the industry. ™ ImagineOne offers a comprehensive approach, covering everything from pre- and point-of-service to zero balance. This means that healthcare professionals can rely on a fully functional system that supports their workflow from start to finish.
  • 15.
  • 16. By eliminating manual tasks and ™ streamlining processes, ImagineOne allows professionals to focus on what they do best — providing exceptional patient care. ™ With ImagineOne , ImagineSoftware is at the forefront of the healthcare technology revolution. The platform equips healthcare professionals with the necessary tools to optimize revenue cycle processes, improve patient care, and reduce costs. It is a game-changer in the industry, empowering organizations to achieve new levels of efficiency and success. Commitment to Giving Back ImagineSoftware is committed to giving back to communities and making a positive impact. They go beyond just providing products and services, striving to support the people and communities that have supported them. It encourages employees, partners, and clients to also make a difference in their communities. They are proud when employees take the initiative to raise awareness for causes they care about, inspiring others to get involved. ImagineSoftware supports employees’ charitable work by offering up to 8 hours of paid volunteer time off (VTO) each year, allowing them to participate in activities of their choice. Additionally, through their internal charitable giving program, ™ ImagineGives , they amplify the impact of employees' charitable donations by matching contributions to eligible non-profit organizations. They also organize quarterly projects for participation across all office locations and remote groups.
  • 17.
  • 18.
  • 19. Making Thanksgiving Special for Families in Need Each year, ImagineSoftware initiates numerous projects, one of which has a significant impact on the Charlotte area, where the company’s headquarters are located. This project involves an annual partnership with Charlotte Rescue Mission aimed at packing Thanksgiving food boxes for families in need. ImagineSoftware employees from across the country contribute their time or funds to support this initiative. As a result of the team’s contributions, it has been able to provide Thanksgiving meals to over 500 families in Charlotte and nearby communities. Additionally, the company has donated thousands of dollars to support Charlotte Rescue Mission's ongoing outreach efforts throughout the year. Fostering a Culture of Giving Back ™ The ImagineGives program is dedicated to aligning with the vision and mission of ImagineSoftware. This alignment is made possible by the support of their team. By investing in their employees, ImagineSoftware is able to invest in the communities they serve by supporting organizations that are meaningful to their employees. It recognizes its role in contributing to an inclusive world and strives to lead with its values and beliefs, allowing employees to reach their full potential in the workplace. Their culture of diversity and inclusion fosters more creative thinking and innovative ideas to address a diverse market. ImagineSoftware believes in hiring driven individuals from all backgrounds because it not only makes them a great company but is also the right thing to do. Their efforts in this area were acknowledged last year when they received a RAD Honors award from the Radiology Business Management Association (RBMA). This award recognized ImagineSoftware as the 2022 Culture and Well-Being winner for their commitment to employee growth and advancement, equity, employee morale, and work-life balance. The ™ ImagineGives program contributes to their company culture and provides employees with a way to feel valued while offering support and appreciation to their communities. 40+ Medical Specialties ImagineSoftware’s revenue cycle management solutions are widely adopted by more than 40 medical specialties across the nation.
  • 20. These solutions cater to high-volume physician practices, clinics, infusion centers, and medical billing organizations. Originally founded in the radiology industry, ImagineSoftware primarily served independently owned radiology practices and imaging centers. However, as their technology evolved, they expanded their clientele to include pathology, anesthesiology, emergency medicine, and other medical specialties. Future of Healthcare Billing In today’s interconnected world, technology plays a vital role in optimizing our daily routines and improving overall quality. ImagineSoftware is at the forefront of leveraging artificial intelligence and nurturing partnerships, with a focus on providing cutting-edge software tools to streamline healthcare billing and ensure swift reimbursement. Sam’s team and he are deeply interested in the convergence of medical advancements and technology, which is poised to expand ImagineSoftware’s presence in the healthcare industry. The mission is clear: to continuously innovate and deliver unparalleled technology, accompanied by exceptional customer support. Moving forward, it is excited to explore additional specialties, enabling more stakeholders to benefit from its unique value proposition. Where Possibilities Defy Expectations Sam feels honored to be a member of this team, as the high energy, level of engagement, and drive displayed by the team members continue to impress him on a daily basis. This company, ImagineSoftware, serves as proof that anything is achievable. Despite skepticism from others in the market, the company has repeatedly proven them wrong through their unwavering determination, creativity, speed, and kindness. The secret to their success lies in their practice of servant leadership, which prioritizes the needs of their team members, clients, prospects, and partners. By truly listening, anticipating, and treating others well, they have achieved remarkable success both as a company and for their clients.
  • 21.
  • 22. This success serves as a reminder that with a growth mindset, creativity, and tenacity, any obstacle can be overcome. The Imagine team knows no limits, and Sam takes immense pride in being a part of it. Raving Rewards and Reviews “Imagine offers Flexibility...it allows you to identify trends, look at your data, and proactively look for solutions.” - Cristina Arredondo, Director of Revenue Cycle “ImagineSoftware is a key technology partner... Implementing critical changes, together.” - Basak Ertan, Chief Revenue Officer “We increased our productivity by 400% without adding any additional staff. That's incredible. Imagine creating that environment.” – Dr. Cory Wilson, Emergency Physician and Chief Executive Officer “Imagine has taken the administrative headaches of practice management off my plate, giving me more time to be a pathologist.” – Dr. Kevin Homer, Pathologist and Chief Executive Officer Accolades: • Charlotte Metro Area Top Workplaces • Top 25 Women Leaders in Healthcare Software – Jessica Chasteen, Chief Talent Officer • Top 100 Healthcare Technology Companies • Annual Inc. 5000 List • Business North Carolina Top 125 Private Companies • Culture & Well Being Award by the Radiology Business Management Associatio How ImagineSo ware Empowers its Clients
  • 23.
  • 24. Medical billing is a critical aspect of healthcare administration, ensuring that healthcare providers receive appropriate reimbursement for their services. However, this intricate process is riddled with challenges that often lead to inefficiencies and financial setbacks. One of the key hurdles faced by medical billing professionals is the management and streamlining of documentation. In this article, we will explore some of the prevalent challenges in medical billing and delve into strategies for overcoming them, with a particular focus on the importance of documentation streamlining. • Coding Errors: One of the primary challenges in medical billing is the occurrence of coding errors. Inaccurate or incomplete coding can lead to claim denials, delayed payments, and even legal complications. Healthcare providers must ensure that medical codes accurately represent the services provided to patients. Regular training for coders and the implementation of advanced coding software can significantly reduce errors and enhance accuracy. • Incomplete Patient Information: Medical billing relies heavily on comprehensive patient information. Incomplete or inaccurate patient details can result in claim denials or delays in reimbursement. To overcome this challenge, healthcare providers should implement robust systems for collecting and verifying patient information during the initial stages of treatment. Integrating electronic health records (EHR) systems can streamline this process, ensuring that all necessary information is captured and readily available for billing purposes. Common Challenges in Medical Billing and How to Overcome Them • Claim Denials and Rejections: Claim denials and rejections are common hurdles in the medical billing process. Understanding the reasons behind denials and rejections is crucial for addressing these issues effectively. It is essential to regularly analyze denied claims, identify patterns, and implement corrective measures. This may involve improved training for billing staff, enhanced communication with payers, and the use of technology to identify and rectify errors before claims are submitted. • Complex Insurance Policies: The intricacies of various insurance policies can pose a significant challenge for medical billing professionals. Each insurance plan may have unique requirements, coverage limitations, and submission protocols. To overcome this challenge, healthcare providers should invest in staff training to stay updated on the latest changes in insurance policies. Additionally, employing technology solutions that can automatically verify insurance eligibility and coverage details can streamline the billing process and minimize errors. • Regulatory Compliance: The healthcare industry is subject to a myriad of regulations and compliance standards. Keeping up with these ever-evolving requirements is a continuous challenge for medical billing teams. Establishing a robust compliance management system and providing ongoing training to staff can help ensure adherence to regulatory standards. Implementing technology solutions that automate compliance checks can further enhance accuracy and efficiency in the billing process.
  • 25. Facilita ng Documenta on Streamlining!
  • 26. • Delayed Payments: Delayed payments can strain the financial health of healthcare providers. Identifying and addressing the root causes of delayed payments is crucial for maintaining a steady cash flow. Streamlining documentation processes can play a pivotal role in expediting payments. By ensuring that all required documentation is complete and accurate at the time of claim submission, healthcare providers can reduce the likelihood of payment delays. • Communication Gaps: Effective communication is essential in the medical billing process, both within the healthcare facility and with external stakeholders such as insurance companies. Communication gaps can lead to misunderstandings, errors, and delays. Implementing clear communication protocols, utilizing secure electronic communication channels, and fostering collaboration between billing and clinical staff can help bridge these gaps and enhance the overall efficiency of the billing workflow. Documentation Streamlining as a Solution: Amidst these challenges, a key solution that emerges is the streamlining of documentation processes. Efficient documentation not only addresses many of the common challenges in medical billing but also serves as a proactive measure to prevent errors and delays. Here are ways in which documentation streamlining can be achieved: 1. Investing in Electronic Health Records (EHR): • Implementing EHR systems enables healthcare providers to maintain comprehensive and standardized electronic records of patient information. • EHR systems facilitate seamless communication between clinical and billing staff, reducing the likelihood of missing or inaccurate information. 2. Automation of Coding Processes: • Utilizing advanced coding software can automate the coding process, reducing the risk of errors and ensuring compliance with coding standards. • Automation not only improves accuracy but also accelerates the coding workflow, enhancing overall efficiency in medical billing. 3. Real-time Eligibility Verification: • Implementing real-time eligibility verification tools can help validate patient insurance information at the point of service. • This proactive approach ensures that billing staff have accurate information before submitting claims, reducing the likelihood of claim denials. 4. Centralized Documentation Management: • Establishing a centralized system for managing documentation ensures that all relevant information is consistently recorded and easily accessible. • Centralization promotes consistency in documentation practices across different departments within a healthcare facility. 5. Regular Training Programs: • Conducting regular training programs for both clinical and billing staff ensures that they are well- versed in the latest coding standards, regulatory requirements, and documentation best practices. • Training programs contribute to a culture of continuous improvement and professional development. 6. Utilization of Artificial Intelligence (AI): • Integrating AI technologies can enhance the accuracy of coding and documentation processes by leveraging machine learning algorithms to identify patterns and anomalies. • AI can also assist in predicting potential issues that may lead to claim denials, allowing for preemptive corrective actions. Conclusion: Addressing challenges in medical billing is imperative for a streamlined and effective healthcare ecosystem. Through proactive measures such as continuous staff training, integration of technology solutions, and regular audits, the healthcare industry can navigate the complexities of coding, patient information accuracy, and claim denials. These strategies collectively pave the way for a more efficient, accurate, and sustainable medical billing process. - Alaya Brown
  • 27.
  • 28. Patient experience is a paramount consideration, encompassing not only the clinical encounter but also the administrative processes that surround it. Efficient medical billing practices play a crucial role in shaping a positive patient experience. Today, the emphasis on patient experience has evolved beyond the confines of clinical interactions to encompass every facet of a patient's journey, including the often complex domain of medical billing. Recognizing that the financial aspect of healthcare is an integral part of the overall patient experience, healthcare providers are increasingly prioritizing the need for efficient medical billing practices. This commitment goes beyond mere fiscal responsibility; it is a strategic endeavor to foster transparency, alleviate financial stress, and ultimately enhance the quality of care delivered. In this article, we will explore the significance of communication in the context of medical billing and discuss strategies to enhance communication efficacy for an improved overall patient experience. The Crucial Role of Medical Billing in Patient Experience: • Financial Transparency: Transparent communication about healthcare costs and billing procedures is fundamental to fostering trust between healthcare providers and patients. Lack of clarity regarding medical expenses can lead to confusion, frustration, and a diminished overall perception of care quality. Improving Patient Experience through Efcient Medical Billing Practices Strategy: Implement clear and concise communication strategies to inform patients about their financial responsibilities before, during, and after medical services. Provide accessible resources, such as financial counseling services, to address patient inquiries. • Timely and Accurate Billing Information: Delays in billing or inaccuracies in statements can contribute to patient dissatisfaction. Patients appreciate timely and accurate information about their bills, insurance claims, and any associated financial responsibilities. Strategy: Utilize technology solutions to automate billing processes, reducing the likelihood of delays and errors. Implement regular training for billing staff to enhance accuracy in coding and claims submission. • Accessible Payment Options: Offering flexible and accessible payment options is crucial for accommodating diverse patient needs. A one-size-fits- all approach to billing may not align with the financial preferences and capabilities of all patients. Strategy: Provide multiple payment options, including online portals, installment plans, and clear instructions for payment arrangements. Clearly communicate these options to patients at the time of billing. • Effective Communication Channels: The communication channels used for billing-related information should be efficient and easily accessible to patients.
  • 29. Augmen ng Communica on Efficacy!
  • 30. Inefficient communication methods, such as confusing paper statements, can lead to misunderstandings and frustration. Strategy: Leverage modern communication channels, including secure online portals, email, and text messaging, to provide patients with clear and timely billing information. Ensure that patients are aware of these channels and can easily opt for their preferred method of communication. • Augmenting Communication Efficacy in Medical Billing: Implement Patient-Focused Training for Staff: Medical billing staff should be equipped with the skills to communicate effectively with patients. Implement training programs that focus on empathetic communication, active listening, and the ability to convey complex billing information in a clear and understandable manner. Benefits: Improved patient-staff interactions, enhanced trust, and increased patient satisfaction. • Utilize Patient-Friendly Language: Billing statements and communications should be written in plain, easily understandable language. Avoiding complex medical jargon and using patient-friendly terminology can alleviate confusion and empower patients to make informed decisions about their healthcare finances. Benefits: Increased patient comprehension, reduced confusion, and a more positive perception of the billing process. • Provide Personalized Communication: Recognize the diverse needs of patients and tailor communication accordingly. Personalized communication that takes into account the patient's specific situation, including insurance coverage and financial constraints, can enhance the overall patient experience. Benefits: Increased patient engagement, enhanced satisfaction, and improved adherence to payment plans. • Offer Proactive Communication: Proactively communicate with patients regarding upcoming appointments, expected bills, and any changes in billing policies. Being transparent and keeping patients informed can prevent surprises and foster a sense of trust in the healthcare provider. Benefits: Reduced patient anxiety, increased compliance with billing processes, and a more positive perception of the healthcare experience. Conclusion: The journey toward improving patient experience through efficient medical billing practices is an imperative endeavor that extends far beyond financial transactions. By prioritizing transparency, empathy, and accessibility in the billing process, healthcare providers have the opportunity to alleviate the burdens associated with medical expenses and contribute positively to the overall well-being of patients. - Alaya Brown