Kathryn Wrazidlo, who oversees revenue cycle vendor management at Cedars-Sinai, describes how to get the best value from vendor partnerships as these relationships become increasingly intertwined with broader revenue cycle processes and reporting.
How can leaders get the most value out of revenue cycle vendor partnerships?
Kathryn Wrazidlo: “In the past, I approached partnerships with a simpler vision: You meet somebody, you like them, and you think they're going to work well for your organization because they have the tools you have been looking for. And then, in hindsight, you might not always get the tools that you want or understand the accountability, or perhaps that partner that you are working with doesn’t have the accountability on their side.
“So, today, I look at it really as (assessing) a strong partnership, really knowing the organization before you partner with them. Talk to other organizations that have used that partner, and make sure that you're going to hold them accountable. Develop those KPIs that are going to work for them to report and for you to utilize to make sure they're performing like they're supposed to.”
