RCM Connections- Amy Assenmacher

JENA R. EGGERT

CEO & Founder RCR|HUB and JER Marketing

EDITORIAL: SUMMER

“Welcome to our June edition of RCM Connections Magazine! To kick off our summer series, I had the pleasure of chatting with Amy over Zoom. Let me tell you, she’s really fun to be around—I’d much rather have shared a beer with her at a baseball game! And yes, she’s a die-hard Michigan Wolverines fan—Congrats! (only 74 days until the 2024 season kicks off-#BBN!)

After diving into her interview, I hope you’ll see how many different paths we take to reach our current positions. My mom always said that learning is not just power; it’s the key to unlocking our potential, and that lesson still rings true today:

JACKPOT!

“No matter what else happens, your education is something no one can ever take away from you.

My team and I would like to extend our best wishes to our providers and business partners alike. We hope Las Vegas does not disappoint! I look forward to seeing you at the numerous cabana events, corporate tapings, cocktails, and dinners. Cheers to our vibrant RCM CommUnity.

Viva Las Vegas

Jena Eggert

TABLE OF CONTENTS

SPOTLIGHT ALL ABOUT COREWELL

03.

SPOTLIGHT AMY ASSENMACHER

13.

RCM VEGAS STATS SURPRISING NUMBERS

19.

SPONSORS VIVA LAS VEGAS: UNCOVER THE ULTIMATE BOOTHS

23.

RCR|HUB SPONSORSHIP OPPORTUNITIES

lights, camera, action!

SVP REVENUE CYCLE, COREWELL HEALTH

AMY ASSENMACHER

Jena Eggert: How did you begin your career? How did you get into healthcare Revenue Cycle? Did family members play a significant role in your journey?

Amy Assenmacher: How did I get into a revenue cycle? So, it’s interesting because I grew up in a family of physicians. My dad is an orthopedic surgeon; I had a passion for his calling in health care. He would take us rounding with him on Sunday mornings to see patients at the hospital. (They kept chocolate milk in the fridges on the patient floors, which I love! It was a special way for Dad to keep us happy and coming back.) I got an early exposure to healthcare and loved that kind of servanthood, or service to the community and taking care of other people. Combined with that, I think I was drawn to math and the sciences and just really excelled in that in school. As I progressed, it was this natural affinity as I leaned towards healthcare.

As for my journey, I majored in biology at the University of Michigan; I completed a year of medical school at Ohio State but pivoted in my career and decided to go in the direction of healthcare administration. As a part of that journey, I successfully obtained my nursing degree. With this degree, I was able to maintain a degree of clinical expertise in my toolbox. I worked as a nurse in the medical surgical unit at University Hospitals of Cleveland for a couple of years while getting my MBA. It was an awesome point in my life, where I enjoyed having the opportunity to take care of patients on a floor and really understand a day in the life of a nurse, as well as getting higher education and exposure to administration in a hospital. When I completed that program, I stepped into a consulting role in the health care provider operations practice with Deloitte Consulting in Detroit, Michigan, which offered an invaluable experience working in a variety of health care organizations across the country.

JE: As a consultant for Deloitte, please share your experience.

“

AA: My first exposure to the revenue cycle occurred on my inaugural project at Hurley Medical Center in Flint, Michigan. It was a year-long project focused on revenue cycle improvement, and it was truly remarkable. Before that, I had no idea what the revenue cycle entailed. Two pivotal figures on that project, a senior manager and manger, generously took the time to educate me, pull me into different project workstreams, and fuel my curiosity about Revenue Cycle. It was a convergence of mathematics, science, and understanding of people within the healthcare system combined with the financial and operational dynamics. This sparked my interest, leading me to seek out revenue cycle-related projects to continually expand my knowledge and expertise.

After nearly seven years of working on revenue cycle projects at Deloitte, I realized I wanted to settle in a community rather than live out of a suitcase. This prompted my move to Dallas, Texas, where I assumed the Director of Revenue Integrity role at the Baylor Health Care System. It was there that I truly appreciated the power of leadership in revenue cycle management, recognizing how it could profoundly impact not only patients but also the growth and development of team members. I also had the unique opportunity to experience a large-scale merger between Baylor Health Care System and Scott & White, forming the largest health care system in Texas, and learned innumerable lessons through that transition. This journey has been nothing short of amazing.

My role is fulfilling and enriching. What I love about my job is that I learn something new every day, which keeps me coming back for more!

JE: Let’s talk about mentors and keep exploring your journey. How did you transition from working at Deloitte to joining Baylor Scott and White? Who were your mentors along the way, and do you still reach out to them for advice?

AA: That’s a great question because I think the pivot from consulting to leadership in the healthcare system was a little serendipitous. As I mentioned, I was getting tired of the constant travel, living out of the suitcase, and a former colleague who had left Deloitte came to mind. Networking is crucial; always ensure you cultivate and maintain relationships. So, she reached out and mentioned a position in Dallas, which seemed to align well with my skills and experience, especially as I was considering getting off the road. The process moved quickly from there. I applied for the job online without knowing anyone in Texas or Dallas.

It was interesting how I got to interview with my future leader, as he has been a prominent leader in Revenue Cycle and had a significant presence in HFMA for a

long time. He not only became my boss but also served as a mentor, helping me grow into the role and acquire leadership and soft skills, along with deepening my understanding of revenue cycle, which was new territory for me. It was really invigorating.

I’ve made it a point to maintain relationships in every job or healthcare system I’ve been a part of—as I mentioned earlier, networking is essential. The healthcare world is small, and connections serve you for a lifetime. In fact, we’ve recently engaged Deloitte here at Corewell Health for a revenue cycle assessment and I’m looking forward to working with some familiar faces again. I was reminiscing with some of my team members today about my days at Deloitte 20 years ago. It’s all about these crossroads in your career journey. I still have colleagues from Deloitte that I reach out to. It’s interesting how individuals transition in their careers, like going from being a CFO at one healthcare system to another. This expands your network, and you also become part of their journey. It’s fascinating to see how these paths intertwine at different points in my career. Mentoring has been instrumental in my success, and I would only be in this role with the investment and guidance from my mentors, who took the time to nurture my talent.

JE: Speaking of leadership, were any notable events or programs that stood out? For instance, the HFMA Large System Rev Council. Have you participated in other leadership programs, events, or groups that have significantly impacted you, either in the

past or currently?

AA: Honestly, HFMA has been an endless source of leadership development for me on many levels. Whether it’s being part of a committee or serving on the HFMA Large System Revenue Cycle Council (LSRCC). My team and I are hosting the next HFMA LSRCC event here in Grand Rapids in September at Corewell Health, which will give me the chance to showcase our organization and incredibly talented team. I was also invited to help coordinate the upcoming HFMA event this fall in Columbus, Ohio with some great peers of mine. Thinking about those opportunities has really helped me develop skills in planning such an event and setting the agenda. So, I would say that has been foundational for me—the entire HFMA platform and the various opportunities it offers. I mentioned a mentor before—the leader of the revenue cycle at Baylor at the time—who was deeply connected with

“THERE ARE THREE H’S HONESTY, HUMILITY AND FOUNDATIONAL TO BEING

Revenue Cycle Employee Engagement Volunteer

HFMA and probably got me involved and encouraged me to tap into that resource. My current boss at Corewell Health, the CFO, is highly involved with HFMA and has set a great example for our entire finance team in taking advantage of all that HFMA has to offer. It’s been invaluable for leadership development, not just for my team but also for myself. I can’t speak highly enough about HFMA. Even when I was at Deloitte, there were many leadership development programs. Dedicated sessions, retreats, and programs they offered have been helpful.

Outside of my Revenue Cycle world, joining a couple of community boards here in Grand Rapids has also been crucial. Leadership isn’t just about the professional setting but also about contributing to the community. There are skills that you transfer between the two that are incredibly helpful, and understanding how your role in the community as a professional connects

THAT COME TO MIND: AND HUMOR. THESE ARE

AN EFFECTIVE LEADER.

back to the purpose of serving others is important. It’s been great to be a part of both the Frederik Meijer Garden board as well as the D.A. Blodgett board.

Then, there’s the Women in Leadership event that HFMA hosts yearly, which I absolutely love. This year’s event was in Plymouth, Michigan. It was phenomenal. I’ve had the privilege to serve on the panel before, and they usually have guest speakers who talk about various industry topics, whether leadership, dealing with stress, or, like this year, resilience. I found it powerful and walked away with many lessons I could apply. Many of my team members were there, too, and I was so proud of my leaders who designed and coordinated the event. It’s essential to carve out time and give your team space to attend these events as well. It sets a great example that personal development is just as crucial as day-to-day tasks. It’s about heads-up time where you’re thinking about how to develop yourself, others, and the team and how to give back to the community or the organization in a way that requires you to grow and learn as a professional.

JE: Let’s discuss your current team. How many direct reports do you have, and how many people are in the revenue cycle department?

AA: We are a $15 billion healthcare organization. I now have about 4,000 highly talented team members across revenue cycle. There are 65,000 team members across Corewell Health and 21 hospitals. I have six direct reports, and we’ll talk about the importance of team members and people, but those leaders are essential. They manage large scopes

Volunteer event

Nastacia Robert, Kristi Hewitt, Sarah Clark, Evie De Vries, Amy Assenmacher, Sue Tylutki, Courtney Guernsey, Marcus Lewis, Jodi Scully

Matthew Cox, Amy Assenmacher (with Corewell Health Reporting & Analytics presenters at HFMA in the background: Ryan Adams, Laura Klein, MacKenzie Wigent, Justin Orlik)

of the revenue cycle and truly set the culture for the department. So front, middle, back, and then we have a shared services leader, and then I have a senior project specialist who coordinates a lot of special programs and projects across the revenue cycle. That’s been really beneficial!

JE: What do you look for in a leader?

AA: There are three H’s that come to mind: honesty, humility, and humor. These are foundational to being an effective leader. We often talk about servant leadership, and it’s crucial to detect someone who genuinely has a commitment to serving others because, as a leader, you’re responsible for your team, your customers, and various stakeholders. It’s about understanding how to give back and elevate those around you, fostering a united team. Trust is paramount; you want to work with someone who is committed, honest, reliable, and will see things through to the end. Ultimately, it’s about delivering results and executing on a shared vision. Actions speak louder than words, instilling confidence in those we serve that we are capable and trustworthy.

Cheryl Kaliniak, Michelle Fales, Amy Assenmacher, Elaine Koetje, Brooke Twomley

Equally important is being team oriented and committed to fostering a positive, collaborative culture where wins and losses are shared collectively. It’s not about individual leadership but rather about working together and supporting each other. When someone is struggling, we lean in to support them, ensuring that everyone rises together. Creating a safe space for people to perform at their best is essential. Mistakes are inevitable, and they are also opportunities for learning and growth. Encouraging a culture of curiosity and learning, where it’s okay to fail

fast and learn from mistakes, is essential in fostering a dynamic and innovative environment.

JE: Let’s talk about technology. I love technology, as is evident from our online digital presence. We all have search engines, but how do we truly streamline things? So, what are you looking forward to when we talk about technology and our teams? Have you established the next steps?

AA: There’s a lot of conversation around artificial intelligence as the next frontier. We certainly are in the midst of that, and it’s been exciting and invigorating to understand how we’re going to be changing the way we work. It’s important to recognize that while AI will make things simpler and more efficient in many ways, it will also force us as leaders and team members to think differently about how we manage automation and the future of our revenue cycle. I don’t have a crystal ball, but I believe it’s crucial for everyone to play a role in the automation process, from understanding the current state to researching and connecting with industry experts to explore different directions AI can take us.

Education and building our automation literacy are key. (quote) Every team member should have ownership in this process. It’s essential to get the team excited and involved, discussing different use cases and experimenting with pilots. Not every experiment will succeed, but we need to start small and learn from our experiences to determine the best path forward for our revenue cycle.

While technological advancements are exciting, it’s important to acknowledge that they can also be intimidating and create anxiety about the unknown.

However, we can use technology to advance our strategy and achieve our goals. It’s about getting everyone on board and engaged, making them feel like a part of the journey. So, buckle up for the ride because it’s going to be a journey into the future, and it’s essential to have everyone on board and feeling involved.

JE: Do you have a vendor management person or team? Do you have a technology team?

AA: We do have a dedicated revenue cycle vendor management team. We were probably one of the first in the industry to establish one several years ago. They handle invoice reconciliation, scorecards, performance indicators, vendor contract management, service level agreements, and we even hold quarterly business reviews with our vendors to ensure alignment with our mission, vision, and values, as well as discuss future strategies. It’s been a valuable exercise to assess if we have the right vendors to achieve our revenue cycle goals.

This team has presented at many HFMA conferences, showcasing their best practices and adding significant value. With our merger, our new system lacked a dedicated vendor management team, highlighting the importance of such a team in supporting and managing vendor relationships. It’s inspiring to see this support established for the combined organization. The vendor management team collaborates with all business revenue cycle leadership to ensure alignment on vendor approaches, performance expectations, and staffing support. It’s been a seamless, well-coordinated program that I’m proud of.

Additionally, it’s more like vendor partnership or collaboration instead of just vendor management. It’s about working together to find ways to improve performance and ensure mutual success. Vendors want us to succeed, so it’s in our mutual interest to deliver the best possible service to our patients from a patient financial journey standpoint.

We also have a dedicated automation team within revenue cycle, which has been a really valuable investment because we have, it’s not off the side of your desk, but it is a dedicated leader and team that work on robotic process automation. We have an automation advocate team. They’re responsible for maintaining that relationship and working with the revenue cycle leadership team to identify use cases for improvement and opportunity improvement related to automation. That’s been a successful area because we actively use RPA across the revenue cycle. We also have an artificial intelligence center of excellence and an automation team in our digital services space. So our revenue cycle automation team works closely with that team to look at new technology coming to the system and how we would benefit from it in the revenue cycle. It’s been great to see their growth! We are fortunate to have a system support team in revenue cycle that manages and loads contracts within Epic. It’s been great to see the spectrum of how we are using technology from the critical maintenance support to automation strategy. That whole continuum is

such an important extension of activities across an automation team. We’re doing not only the blocking and tackling but also really pushing the boundaries to say, where do we want to go with this? What else can we do with it? What are some creative experiments that we can try?

JE: What are you leaning into? What do you look forward to?

AA: I love being in the healthcare industry. I love the revenue cycle. I’m really excited about the passion in the industry around revenue cycle and increasing appreciation for the value that our team provides to the communities we serve. I mean, it’s all about the patient. We want to take care of the patient at the center of everything. I think people are realizing more and more how powerful and impactful the revenue cycle can be on that patient experience. Whether it’s alleviating stress from financial burden, making things seamless on the front end, scheduling an appointment, or getting a patient in from a registration standpoint. It brings a smile to my face when I hear providers, other leaders, or even community members talk about the positive experience they had related to the financial aspect of their care journey. And I think more and more you’re hearing that rather than ‘hey, the doctor was great” it’s that “I had a great financial counselor who provided me with another payment plan that I wouldn’t have had in any other situation.” As a community we’ve begun sharing these great and

positive stories, not just in our organization, but in the entire Revenue Cycle community. Having the light shone on Revenue Cycle is deserving. It’s a vital part of that patient experience, and we must figure out ways to make it more simple, affordable, equitable, and exceptional. The positive accolades are great for our industry. I think everyone’s pumped about how we can automate some of these manual tasks and continue to develop our people and allow them to work at the top of their license. I’m really excited about the continued investment in the growth and development of our talent. There are so many talented people on our team, and we’re spending more time thinking about how we continue to provide that training, education, and development to invest in that growth. After all, these team members are going to define what the future of revenue cycle looks like. In fact, we believe so much in development that we are in the process of shaping our recently launched Revenue Cycle Leadership Academy here at Corewell Health. We’re in the early stages of development, but my team is coming together to create something special!

JE: Anything I did not ask about? Anything you want to add?

AA: It’s critical that there is continued collaboration between payers, providers, and patients in those three spheres. The only way we can elevate healthcare is to address some of the challenges we are facing now. We need to unite, versus being silos. We need to figure out how we put the

patient at the center of everything we do, and find ways to continually improve that experience, while being more efficient in the process. We also need to be mindful about taking care of our teams along the way. It’s not easy today, and we all have a role in creating a better experience for them.

JE: As I listened to your journey, I noticed that the states you worked in all have a common theme - football. Michigan, Ohio, and then Texas interesting!

AA: In Dallas and Cleveland, I had access to all the professional sports, but my first love is college sports. As you can imagine, I’m all about Michigan football. It’s been so fun to be back in Michigan, especially since we won the national football championship and can celebrate that victory all year long until the next season begins.

JE: A special side note for our readers: During our discussion about Amy’s educational background and degrees, she shared the following with me

AA: I have a registered nursing license that I have kept current. I was able to use my clinical skills during COVID. We had a couple of vaccine centers set up for different Hispanic neighborhoods here in Grand Rapids. I was privileged to use a syringe after 20 years and it was so invigorating. They offered a refresher session, and I was able to apply my nursing skills to serve the community. So, it was pretty cool to be a Revenue cycle leader administering COVID vaccines in the community!

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Process

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