The most noticeable effect the epidemic has prompted is a greater need for automation than ever before. Automation has always been important in Revenue Cycle Management (RCM), but COVID has highlighted the need for firms to engage in technology-enabled automation. “COVID disrupted staffing models and business processes that put automation at the epicenter. ImagineSoftware continues to enhance investment in not only our existing automation technology, but we’ve also grown our capabilities with artificial intelligence to augment the workforce of our clients,” says Sam Khashman. He is the President & CEO at ImagineSoftware, a leading provider of medical billing automation software and revenue management applications.
We see technology-enabled automation as a trend that will accelerate both in the near and long term. By applying high-quality standards to data integrity, cutting-edge technology for medical billing offices, clinics, and hospitals enhances efficiency while enhancing cash flow. ImagineSoftware is dedicated to cutting-edge development and intelligent automation in order to assist clients in achieving peak performance and quantifiable outcomes.
A Journey towards Achieving Proficiency
Sam Khashman was born and raised in Germany, travelled to the United States for education, and had the chance to begin his career after graduation. He did not pursue healthcare and revenue cycle management in a straight line. Early in his career, he worked in manufacturing, financial services, and the insurance business. These industries had a significant impact on his ideas about how technology should function.
Through some unique circumstances, Sam met a local physician in Charlotte, NC who was seeking a better revenue cycle management (RCM) solution. He used that opportunity to work with several healthcare practices in Charlotte, North Carolina (pediatric urology, radiology, anesthesia, and ophthalmology). He recalls, “Although the practices were clinically well managed, we quickly realized that these groups utilized extremely inefficient billing processes, and there was a significant opportunity for system automation.”
Sam considers himself to be a perpetual student who is fascinated with process improvement, individual behavior, and intellect. As a leader, his inherent curiosity energizes him and helps to maintain his growth mindset. Sam pursued his Masters in Intelligence Studies to expand his academic grasp of analysis and end-results thinking. Sam also had the privilege of learning from well-respected and successful organizations as a member of the advisory board of the US Chamber of Commerce Foundation and numerous other notable organizations.
Starting ImagineSoftware
One of the very first customers had this to say: “If we can imagine it, they can do it.” That was the genesis of the name of the ImagineSoftware organization. Sam says, “When we began meeting with some of those original customers, we realized a significant opportunity to optimize their workflows.” He further adds that healthcare is complex, and the approach for most practices at the time was one filled with manual processes. The team at ImagineSoftware took a manufacturing mindset to automate as much as possible and create a platform with little to no waste, rework, or duplication of effort.
Although the company’s beta clients spanned multiple specialties, it found that radiology had significant complexities, and it represented the most opportunity for positive disruption. The team says, “We doubled down on our efforts in the radiology space and quickly grew in the marketplace.”
According to Sam, the central idea that remains today is that revenue cycle management should be “hands-free.” That means that users do not have to perform mundane tasks in their RCM processes while compliantly getting maximum reimbursement. That was the company’s core principle in 2000, and it remains in its DNA today.
Cutting-edge Solutions
The ImagineSoftware package is an end-to-end revenue cycle management platform that provides unrivalled levels of automation across the board. The firm is now the market leader in RCM and automated medical billing software. According to the vision statement, the goal is to be the top healthcare system platform. That sentence, according to Sam, is purposefully unclear. The company’s DNA is to continuously innovate and develop. It is always analyzing solutions and the competitive environment to discover new chances for its clients to gain a competitive edge, given its market position, customer mix, and team.
Sam is obsessed with intelligence, and it shows at every level of the company. Analyzing and sharing intelligence is part of the company’s culture. It permits it to prioritize risks and opportunities (the external market) above strengths and weaknesses. Sam goes on to say that having this approach enables the organization to stay ahead of the innovation curve and avoid becoming stuck in self-analysis.
Taking Competition Head to Head
Competition is healthy as it keeps organizations on their toes, and so competitors have helped us focus on our true competitive advantages and continually invest in what differentiates us. “We never take competition lightly. In our industry, we deal with competition from multiple angles. You have traditional competitors (RCM/Billing vendors) and what we call “point solutions” (organizations that provide only one component of the continuum but do it well),” says Sam.
As per Sam, the other element competition has done for ImagineSoftware is allow it to stay focused on innovation. He believes that all-too-often successful companies get caught in a product draught. Whether through execution, competing demands from clients, or just maturation, companies can lose their ability to develop and commercialize new products. The needs and advances of traditional and non-traditional customers have helped us stay nimble and drive the industry forward.
A View on Modern Leadership and Emerging Entrepreneurs
Emerging entrepreneurs must be able to move and make choices faster than their peers. Change is constant, and companies that do not change will not survive. Forget about your previous winning method and instead look ahead, allowing the future to shape the present. While it might be difficult to break old patterns, growing as a leader ensures that your business grows as well. In Sam’s opinion, a leader must be decisive and use critical thinking abilities with the final objective in mind. He asserts, “Don’t dwell on the tough decisions, but make sure that words, beliefs, and actions align. Practice self-awareness, admit to yourself that you need advice when necessary, and always be open to feedback. Set measurable and realistic goals to help alleviate the anxiety around the pressures of showcasing a high level of performance in a short period.”
Sam advises aspiring leaders to remember to lead by example and to have faith in their team. He says finding the perfect person who fits the company’s culture and identity may be difficult. Leaders should repeat the vision as often as possible to ensure that the corporate principles are ingrained in people’s hearts and minds, rather than merely words on a wall. He opines, “An essential part of leading a team is thinking creatively and innovatively and empowering employees to do the same. Communication is vital, as is continuous learning. As top executives, always care for your team members, your partners, and your clients. Executive roles are more visible than most, which makes it imperative to inspire change when necessary. Practicing servant leadership and building strong relationships with clients, partners, and co-workers while remaining grounded are critical to organizational success.”
He also adds, “Ensuring a good work-life balance is more complicated than ever with the constant connection to clients, partners, and employees at any given minute of the day. It can be a struggle to feel as though you always need to be available. Be sure to find time to unwind and unplug. It’s critical to keep yourself and your organization healthy and productive.”
Heading to Becoming a Leading Healthcare Systems Platform
It isn’t true for every firm, but for many, their principles are merely something that hangs on the wall in the workplace, but no one truly follows them. It’s not like that at ImagineSoftware. Sam asserts, “Our values drive everything we do. Our leaders talk about our company values at every turn, in their huddles, scrums, and presentations internally and at our company events. Our values permeate throughout our culture.”
ImagineSoftware’s mission of being the top healthcare systems platform is based on two values: innovation and integrity. You can’t lead in healthcare information technology without being innovative. But innovation isn’t only about technology for ImagineSoftware; it’s an attitude. ImagineSoftware encourages all of its employees to evaluate and enhance their roles. The team states, “We give our teammates the latitude to identify opportunities and threats and attack them head-on.”
To be the leading healthcare system platform, it has to go beyond technology. According to Sam, ImagineSoftware strives every day to live a culture of servant leadership, and inside of that, the organization believes that integrity and putting its clients, partners, and teammates first matter. “We want people to know that working with ImagineSoftware, they will never have to worry about our mutual alignment of interests and success.”
