511 - from data to dollars: optimising the revenue cycle.

In this episode of Talking HealthTech, host Peter Birch speaks with Charles Lie from Healthscope, Cathy Ryan from Cabrini Health, and Dean Breckenridge from Ramsay Health Care about the hurdles private hospitals in Australia are dealing with. They dive into outdated coding rules, workforce shortages, and the hiccups in revenue cycle management. They also cover how AI and automation come into play, discuss policy and funding roadblocks, and share some handy tips for staying financially sustainable.This episode was recorded as a live session in partnership with InfoMedix, bringing together representatives from across Australia's digital health ecosystem, including private hospitals, vendors, consulting firms, and government bodies, highlighting a broad interest and engagement with the topics discussed.Key Takeaways:

• Coding complexity is a real headache for hospital cash flow, highlighting the need for skilled coders and efficient systems.

• Bringing AI and automation into healthcare isn't smooth sailing because of specific coding standards and existing inefficiencies.

• Everyone needs to team up to reduce admin redundancies and make systems more efficient.

• Public vs. private hospital funding models are another ball game, making financial sustainability a big challenge.

• Simplifying funding models helps reduce the admin burden and improve the quality of patient care.Check out the episode and full show notes on the Talking HealthTech website.Loving the show? Leave us a review, and share it with someone who might get some value from it.Keen to take your healthtech to the next level? Become a THT+ Member for access to our online community forum, meet-ups, special offers, and more exclusive content. For more information visit talkinghealthtech.com/thtplus

Mentioned in this episode:

Use the free Talking HealthTech Glossary for plain-English explanations of digital health terms, acronyms and concepts across the industry: talkinghealthtech.com/glossary.