Stericycle Communication Solutions (SCS) Joins Simon Associates Management Consultants (SAMC) for the Latest “Trends from the Trenches” Webinar
NEW YORK, NY – May 7, 2015: Reducing the cost of care is a primary focus for most U.S. healthcare organizations today. But concentrating all efforts on cost cutting isn’t the best approach. Healthcare leaders also need to concentrate on the other side of the equation – generating revenue. Join the next Healthcare Innovation: Trends from the Trenches webinar, on May 15, at noon, EDT, and learn how creating extra revenue can be – and should be – an important factor even when cost cutting is a primary objective. Register here for: “Proven Ways To Increase Revenue While Reducing Costs.”
SAMC Founder/CEO Andrea Simon, Ph.D., will team up with two SCS executivesfor this webinar: Matthew Henning, Stericycle Communication Solutions’ National Director of Health Systems, and Colin Hung, SVP of PatientPrompt, a Stericycle division. Together, they will describe how countless opportunities already exist but often go unnoticed for healthcare organizations to increase revenue through improved customer service communication processes.
“Many organizations have a solid vision of what their customer service processes should ultimately achieve,” said Henning. “However, it can be extremely challenging for leaders to know where to start. Many organizations miss opportunities for ’quick wins’ that could boost revenue significantly, because they’re too focused on cutting costs.”
In one case, Henning worked with a healthcare organization that had acquired numerous practices. When asked about after-hours answering services, this client said several companies were involved, but couldn’t recall exactly how many. SCS investigated and uncovered eight – all using incompatible processes.
“If you’re managing eight different relationships, there’s a good chance you’re losing money,” Henning explained. “By identifying, streamlining and automating siloed processes, organizations can immediately re-capture wasted expenses and maximize revenue. In most cases, these changes can happen very quickly and require minimal client resources.”
As another example of how an inefficient customer service communications system can hurt an organization, consider what happens when someone misses an expensive MRI appointment.
Missed appointments have a triple impact. There is the lost opportunity cost of the appointment, the cost of the idle equipment/personnel, and the cost of rebooking that patient. An average MRI suite will see approximately one missed appointment each day, which translates to around 20 each month (a significant amount of revenue). Yet with cost-effective technology and best-practice communication protocols, the problem can be reduced as much as 80%.
“We are bringing you this webinar because among all the trends that we are watching, this one really matters,” said Simon. “Healthcare institutions must refocus on capturing demand and ensuring people can get to the right doctor or care at the right time and place. Finding and fixing communication gaps in healthcare organizations is proving to be an efficient, effective way to produce revenue, increase the quality of the patient experience, ensure that people arrive at appointments prepared and on time, and monitor that they receive the proper after care, as well. All of these factors add up to not only increased revenue, but also enhanced brand value.”
In summary, audience members for this May webinar will learn the following:
- How to identify the sources of quick revenue wins without investing in complex projects
- How revenue protection influences cost reduction
- How bridging gaps within the organization can yield a better project ROI
CMOs, Physician Clinic Directors, Chief Administrative Officers, Directors of Operations and others are encouraged to attend this free, hour-long webinar.
For more information on the popular webinar series, go to: www.simonassociates.net, where Slide Share presentations of past webinars can be downloaded. To read more about other pertinent healthcare topics, go to the SAMC Trends from the Trenches blog.
Media Contact: Chuck Casto, Casto Marketing Communications, 508-314-3284, chuckcasto@gmail.com
