(Little Rock, Arkansas – June 20, 2018) – MedEvolve, Inc., a national provider of practice management (PM), revenue cycle management (RCM) and analytics software and services for specialty practices, announced today the company’s Revenue Cycle Management (RCM) services team achieved its largest collection month in company history. This record month is a direct result of the operational redesign of the RCM department, its technology and processes, that took place in April—an effort the company and its clients will continue to see a positive impact from moving forward.
Earlier this year, Matt Seefeld was promoted to Executive Vice President of MedEvolve, and he immediately began restructuring the RCM department to better align it with each function of the revenue cycle and implemented a completely data-driven approach. With over 18 years of revenue cycle management consulting experience in the healthcare industry, Matt has worked with some of the largest and complex health systems and employed physician groups in the country. He leverages his extensive expertise in the assessment, design and implementation of process improvement programs and technology development across the entire revenue cycle to maximize results for MedEvolve and its clients.
“I learned early on in my career that if you are not measuring to improve, you cannot improve. Therefore, we implemented MedEvolve’s data driven philosophy to all areas of the RCM organization,” says Seefeld. “MedEvolve’s unique combination of analytics, service and technology solutions allows us to proactively uncover problem areas and opportunities with timely and accurate data, so we can ensure our clients continue to run successful businesses and achieve their financial goals and strategic objectives.”
The RCM team leverages data from the MedEvolve Practice Analytics and Productivity Optimization suite of solutions to monitor client key performance indicators (KPIs) from each component of the revenue cycle, such as improving clean claim pass rate and reducing first pass denials, to drive maximum cash flow results.
Additionally, the enhanced Solution Optimization Services (SOS) department, which Seefeld began building in 2017, evaluates clients’ current processes, identifies areas that need improvement, quantifies the impact and then implements the necessary changes in processes and practice. They assess areas such as patient collections strategies, and billing and collections issues like denials, underpayments, and bad-debt write-offs to help clients resolve these issues before they get out of control. The end goal is simple, maximize cash yield and do it at a cost that clients can afford.
“We are excited to have Matt at the helm of our RCM team. He has already implemented changes to drive efficiency and accountability within our revenue cycle services group by focusing on data to achieve results,” said Matt Rolfes, CEO of MedEvolve. “With increased insight into the client side of our business, we will have a better vantage point to continue to strengthen our current solutions and develop creative new ones to help our independent physician practice clients thrive in the challenging environment of today.”