Breaking Barriers: How Capta’s Expertise Helped Presbyterian Reach Beyond Best In Class

Oct 13, 2024

Capta’s involvement has led to a remarkable 4% increase in net patient revenue, alongside a reduction in the cost to collect.

In this conversation with Rod Michael, Vice President Finance at Presbyterian Healthcare Services, we explore how a strategic partnership with Capta transformed a healthcare organization’s revenue cycle management. By collaborating with Capta, the organization achieved a 4% improvement in net patient revenue and reduced operational costs. The discussion highlights the importance of overcoming arrogance in healthcare, urging leaders to embrace partnerships that offer fresh perspectives and enhancements. Continuous improvement emerges as a key theme, with Capta providing the expertise and resources necessary for evaluating opportunities that might otherwise remain untapped. The episode concludes with valuable advice for healthcare CFOs: open the door to partnerships, acknowledge the limits of your knowledge, and embrace the potential for growth and innovation.

In today’s rapidly evolving healthcare landscape, how do organizations ensure they are maximizing their resources while staying true to their mission? This question is at the heart of a recent episode of our podcast, where we explored the transformative impact of partnering with Capta on our healthcare services. Through this collaboration, we’ve discovered new ways to enhance our operations and better serve our community.

The Power of Partnership

In our conversation, we delved into the initial skepticism we faced when considering a partnership with Capta. Despite being recognized as best in class by the Healthcare Financial Management Association (HFMA), we wondered how much more we could improve. However, Capta’s involvement has led to a remarkable 4% increase in our net patient revenue, alongside a reduction in the cost to collect. This improvement has not only bolstered our financial standing but also allowed us to reinvest in areas that were previously out of reach.

Embracing Continuous Improvement

One of the key takeaways from our experience with Capta is the importance of continuous improvement. By stepping back and allowing an external partner to provide a fresh perspective, we were able to identify areas for growth that we hadn’t previously considered. This mindset shift has opened doors across our organization, fostering a culture of ongoing enhancement and innovation.

Overcoming Arrogance and Embracing Change

A significant lesson we’ve learned is the need to overcome any arrogance about being “best in class.” By acknowledging that there is always room for improvement, we have been able to embrace change and explore new opportunities. Capta’s expertise has been instrumental in guiding us through this process, providing the resources and confidence needed to make informed decisions.

Leveraging Technology for Efficiency

Our partnership with Capta has also highlighted the potential of technology in streamlining our operations. From robotic process automation (RPA) to bots, we’ve begun to explore various technological solutions to enhance efficiency. Capta’s leadership has been crucial in helping us evaluate these opportunities, ensuring that we focus on initiatives that truly add value.

The Value of Open Communication

Finally, our experience underscores the importance of open communication and collaboration. By inviting Capta to the table and being willing to admit that we don’t have all the answers, we’ve been able to forge a true partnership. This openness has been key to our success, allowing us to work together towards common goals and make a meaningful difference in our community.