HLTH: AI and Integration in Healthcare: Insights from Srinivas Velamoor of NextGen
Healthcare needs to view patients as consumers, integrating their healthcare journey into their daily lives.
In this episode, Srinivas Velamoor, President and Chief Operating Officer at NextGen Healthcare, discusses his company’s approach to improving the patient experience through a "closed-loop" patient engagement model using mobile devices as a digital front door, allowing patients to schedule appointments, make payments, and receive follow-up care, all seamlessly. NextGen also addresses the financial pressures in healthcare, focusing on transparency, AI-enabled revenue cycle management, and staff efficiency tools. Srinivas explains that their company uses AI, especially on the admin side, and they ensure that healthcare data is used for training models. Moreover, he emphasizes that they are boldly reimagining the physician experience, aiming for non-linear workflows and ambient assistance. Finally, Srinivas calls for collaboration among health tech companies and emphasizes an open ecosystem that benefits patients and physicians.
Tune in and learn how NextGen Healthcare is revolutionizing healthcare with a focus on integration and impact!
About Srinivas Velamoor:
Srinivas (Sri) Velamoor is a senior executive with expertise in healthcare, technology, and financial services. He currently serves as President and COO of NextGen Healthcare, overseeing operations in the U.S. and India. Previously, he was Chief Growth and strategy Officer there. Sri has extensive experience driving growth for tech and SaaS companies, aligning strategy with execution. He has held leadership roles at McKinsey, PwC, and Diamond Management, where he helped scale digital health and healthcare technology initiatives.
Things You’ll Learn:
Healthcare providers must recognize that patients are also consumers with lives outside of healthcare.
AI in healthcare is being applied to both administrative and clinical areas but the admin areas have a clearer path to immediate ROI.
There's a trend towards digital front doors, which replace older patient portals, and bring the patient experience directly to their mobile devices. This shift is driven by the need for better accessibility and patient convenience.
AI can enhance the revenue cycle process by predicting payment likelihood and reducing submission errors, ultimately increasing cash flow.
Collaboration, and not competition, is vital in the health tech space to create better outcomes.
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