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The Intersection of Healthcare and New Technology with Frank Corcino
Manage episode 407083841 series 3557596
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Frank Corcino, has been in healthcare for the past 38 years. Starting in the healthcare debt collection business, he made a strategic shift into cash acceleration with early-age receivables. Currently Frank serves as a National Market Leader for Financial Operations in OnPoint Healthcare Partners, a boutique consulting firm in Texas. He acknowledged the ongoing struggles of hospitals with expense management, automation, and the need for a hybrid model of operations. As hospital operating incomes are at an all-time low and claim denials are growing, Frank sees technological solutions such as AI and NLP as vital to streamlining processes and reducing issues in revenue cycles. He mentions the successful use of software programs like OnPoint's virtual assistant in transcribing clinical notes for doctors, saving valuable hours each day. The episode ended with Frank discussing how he sees the future of healthcare, the likelihood of more outsourcing in the future.
For more insights and takeaways, visit www.leadersinmedicalbilling.com. This episode is sponsored by 4D Global, empowering medical billing companies to grow through offshore staffing. Visit them at www.4DGlobalInc.com
Show notes
- [00:00:00] Introduction: Frank's 38 Years of Healthcare Experience
- [00:00:17] Early Career: From Collections to Cash Acceleration
- [00:02:34] Current Role: National Market Leader at OnPoint Healthcare Partners
- [00:04:09] Challenges in Healthcare: Seeking Efficiency amidst Struggling Automation
- [00:06:23] Solutions to Cash Flow Issues: Better Management of CDM
- [00:08:52] Staff Shortage: Transition towards Younger, Low-cost Managers
- [00:10:27] Addressing Hospital Financial Struggles: The Role of Technology
- [00:14:07] Streamlining Process: The Impact of Robotics and OCR Scanning
- [00:16:56] Impact of AI and NLP: Accurate Clinical Notes for a Smooth Revenue Cycle
- [00:18:51] Patient-Physician Separation: Unique Technologies to Enhance Care and Payments
- [00:24:22] Future in Healthcare: Openness to Alternative Solutions
- [00:26:00] OnPoint's Virtual Assistant Tool
- [00:28:50] Frank's Future Plans
IRIS - https://info.onpointhealthcarepartners.com/iris-virtual-clinical-assistant-0
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