CEO of Texas Tech Physicians, Brent Magers, spoke to members of the Healthcare Financial Management Association (HFMA) Lone Star Chapter during their road show series stop in Lubbock. The theme was “Navigating Healthcare Finance.” Magers spoke on 10 ways that Texas Tech Physicians is improving its revenue cycle, highlighting some of the innovative procedures our team uses like Pre-visit Workflow, 3M computer-assisted coding and Implemented Dashboard.
Magers also addressed the upcoming implementation of electronic statements this year. “This is an important step for our organization to take as many systems are going paperless,” Magers said. “With electronic statements, patients will be able to see up-to-date balances online and have the ability to make budget plans online.”
He concluded his presentation with a chart that illustrated Texas Tech Physicians collections nearly doubling from 2006 to 2018, thus demonstrating how the application of new methods is having a positive impact on our revenue cycle. Magers encouraged attendees to implement any of the 10 approaches mentioned to positively impact their organizations’ collections.