Launching a new business, especially in the revenue cycle industry, is never for the faint of heart. However, April Langford, co-founder and CEO of revcyclematch.com, had an inkling she was onto something big. She had recently left her position as VP of Finance at the University of Pittsburgh Medical Center (UPMC), a leading integrated healthcare delivery system headquartered in Pittsburgh, PA, when the idea came to her.
While at UPMC, she directed both hospital and corporate level divisions. These departments included Revenue Cycle, Quality and Medical Management, Clinical Case Management, Clinical Business Analysis, and Physician Services Recruitment and Office of Physician relations. Additionally, in January 2012, she developed Ovation Revenue Cycle Services, a provider-proven, results-driven organization. The years spent with UPMC allowed her to learn and work on the provider and vendor sectors of the revenue cycle, and it gave her valuable insight into the connection issues between vendors and providers.
“As a result of my experience, I was receiving many calls from vendors to connect them with healthcare providers,” she recalls. “I was also getting a lot of calls from my provider friends who were looking for different types of vendors. A large portion of my day was spent connecting people and businesses with each other.”
During this period, April would discuss these calls and conversations with Jena Eggert, a business partner of hers based in New Smyrna Beach, Florida. They both believed that healthcare professionals who specialized in the revenue cycle process deserved a better business model.
“After many chats with Jena, we both recognized that most industries have a mechanism online where you can either find job seekers who want to be hired, or you can apply for jobs if you’re seeking new employment,” April says. “But the revenue cycle industry did not have any such online presence.”
Optimizing the Revenue Cycle Process
Together, in the fall of 2018, April and Jena formed revcyclematch.com, an online platform that connects revenue cycle leaders to future business partners. Their business uses a sophisticated matching program that connects provider-based revenue cycle leaders to software and services partners.
They began exploring how to use advanced technology and analytics to simplify the cumbersome process of vendor discovery and selection, in a similar way to how other industries operate. Dealing with antiquated processes led them to their mission, which was to restructure, streamline, and enrich the user experience. By building the current business model to create a realistic modern healthcare marketplace, they added instant value to the healthcare industry.
The powerful database technology behind this platform allows business managers to abandon the “blind date” method that launches most business partnering relationships. With just the click of a button, the matching platform instantly connects healthcare providers to compatible vendors. This innovative method offers providers a simple, stress-free approach to building partnerships.
The matching protocol means providers will only get responses from subscribed vendors who meet their specific business requirements. And considering that providers value privacy, revcyclematch.com enables them to search the platform anonymously until they decide to make a match.
Let’s Make a Match!
Vendors enroll, build their offering profile, and then they start receiving “you’ve got a match” emails, which turn into hot leads – gone are the days of investing in cold calling.
The vendors are listed under 15 different primary categories:
- Pre-Service & Service Cycle
- Post-Service Cycle
- Full Revenue Cycle Outsourcing
- Payor Portal Access and Administration
- Revenue Cycle Core Systems
- Practice Management/EHR
- Archival and Retirement of Legacy Solutions
- Bad Debt Services and Solutions
- Vendor Management
- Audit and Recovery Services
- Consulting Services
- Talent Acquisition
“Together, these 15 categories have a total of 85 solutions that providers need and look for,” says April. “For example, under the Post-Service Cycle category, you will find some of these solutions: payment processing software and services, international claims, out-of-state Medicaid, or denial management software. We created the categories and solutions based on provider needs as well as what vendors were offering to providers. Each solution represents one step in the revenue cycle process that businesses need help with, want to outsource, or seek the expertise of.”
April and Jena also formed an advisory board comprised of some of the leading experts within the revenue cycle management industry.
“They helped us create the categories and the different components and solutions within them,” says April. “We have 15 advisory board members who represent institutions, health systems, and providers, with a net patient revenue in excess of one billion. We also have a counsel that represents health systems, hospitals, and physician groups with revenue less than one billion.”
During the current coronavirus pandemic, April notes that revcyclematch.com is a critical business, especially because most companies are unable to travel and meet new vendors, and review products and services in-person.
“We offer a one-stop solution where you can work from home, work on a mobile device, or wherever you may be, and you will succeed at finding your next business partner,” says April.
As the pandemic begins to slow down, April is looking forward to revcyclematch.com’s first annual summit in Lexington KY, April, 2021.
“We look forward to bringing our providers and vendors together,” she says. “Everyone will gain insight into new services, solutions and industry trends.”
She also foresees more work available for people in the industry.
“There’s going to be an influx of people out there who are looking for jobs,” she says. “I think it will be great for the revenue cycle community because previously, it was difficult to find and retain talent. But post COVID-19, there will be even more talented people to choose from. It should change the revenue cycle landscape.”
revcyclematch.com has re-imagined revenue cycle management partnerships with a new platform that makes tedious marketing and client acquisition practices obsolete. With the click of a button, our matching platform connects healthcare revenue cycle leaders to compatible vendors. This innovative method is the first of its kind, offering a simple, stress-free approach to building partnerships.
Our healthcare marketplace has something for everyone! Providers enroll, click, and anonymously evaluate subscribed vendors based on specific criteria. Vendors enroll, build their offering profile, and begin to receive “you’ve got a match” emails, which turn into a “hot leads.” Gone are the days of investing in cold calling. revcyclematch.com efficiently helps you find your match.
Let’s get to work, “Let’s make a match!”