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Dr. Michael Gao

👤 Speaker
345 total appearances

Appearances Over Time

Podcast Appearances

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

Okay.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And so if you imagine if you go to a thousand different customers who do things a thousand different ways and you try to, you know, kind of write a bunch of custom code for each customer,

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

it actually becomes incredibly hard to maintain over time.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And that's actually part of the reason why historical attempts at automation in healthcare have actually failed.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And when I first heard about Access Healthcare, I had the same impression that you had actually, which is, oh, it must be kind of like a legacy workforce company.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And Matt kept explaining, you don't understand to have the lowest cost of delivery.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And I was like, okay, that's cool, but it's still a legacy workforce company.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

It turns out, though, that if you imagine anyone can sort of have a, as an example, a productive AR follow-up person, this is somebody who calls insurance companies, understands why there's a denial and sort of goes through that workflow.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

If I give you somebody who has 10 years of experience and a clinical background, of course, that person will be relatively expensive.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And so if I start saying, hey, Jonathan, you're only allowed to hire the fresh college graduates who have no healthcare experience, but they have to do this job well and fast and at a high quality.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

The only way that you would actually be able to achieve that is by building in tons of sort of workflow tools and guardrails to kind of abstract, in some sense, a lot of the decision making away from the person doing the work.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

Yeah.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And so the link between lowest cost to serve while still maintaining high quality was that what they've actually built over time was actually an incredible workflow engine in which a lot of the standard operating procedures and how to and, you know, payer patterns and things like that were implemented.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

abstracted away from kind of inside the cranium of the worker and onto, you know, kind of software and databases and manuals.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And actually that substrate is incredibly powerful for building automation because you're now building automation based on best practice, kind of armed with insights on how to do something well, not just recreating, you know, kind of existing workflows.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

Yeah, it's been relatively short from a kind of combined company perspective.

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And so I think really in the near term for the next two years, and actually I hope it's always our North Star, my strategic imperative is really how do we solve, this is going to sound silly, how do we solve customer problems, right?

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

And this is just where

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

going back to that trillion dollars of healthcare administration, like,

Vanguards of Health Care by Bloomberg Intelligence
Smarter Technologies’ Blueprint for AI-Driven Revenue Cycle Management

it's not like the hospitals want to spend all that money on administration, you know, and the payers don't either for what it's worth.