In Episode 497 of Relentless Health Value, Stacey Richter engages in a detailed conversation with Zack Kanter, CEO of Stedi about the complexities and inefficiencies inherent in healthcare transactions and clearinghouses. They discuss how non-standardized processes and legacy systems result in exorbitant costs and delays in claims processing and eligibility checks, which are significantly higher compared to other industries.
Despite HIPAA's standardized rules, the lack of competitive pressure and outdated technology contribute to these issues, ultimately impacting patient care and administrative costs. Zack offers insights on how modernizing the clearinghouse infrastructure can lead to substantial cost savings and better patient outcomes.
=== LINKS === 🔗 Show Notes with all mentioned links: https://cc-lnk.com/EP497
🔗 Visit Stedi: https://www.stedi.com
✉️ Enjoy this podcast? Subscribe to the free weekly newsletter: https://relentlesshealthvalue.com/join-the-relentless-tribe
🫙 Support the podcast with a small donation to the Tip Jar: https://relentlesshealthvalue.com/join-the-relentless-tribe
🎤 Listen on Apple Podcasts https://podcasts.apple.com/us/podcast/feed/id892082003?ls=1
🎤 Listen on Spotify https://open.spotify.com/show/6UjgzI7bScDrWvZEk2f46b
📺 Subscribe to our YouTube channel https://www.youtube.com/@RelentlessHealthValue
=== CONNECT WITH THE RHV TEAM === ✭ LinkedIn https://www.linkedin.com/company/relentless-health-value/ ✭ Threads https://www.threads.net/@relentlesshealthvalue/ ✭ Bluesky https://bsky.app/profile/relentleshealth.bsky.social ✭ X https://twitter.com/relentleshealth/
09:47 What things are being paid for that we might not be aware we're paying for in healthcare?
12:09 Why HIPAA actually makes healthcare more standardized than other industries.
15:35 How healthcare is ahead in some ways and behind in others.
18:03 Where do the 4 to 5 days come from in healthcare transaction processing?
20:39 Why these transaction delays affect care delay.
23:14 EP482 with Preston Alexander.
23:18 EP472 with Eric Bricker, MD.
27:10 How should the process work from the time a provider clicks "validate"?
30:19 Why is the clearinghouse the right place to solve all these issues?
31:41 Why are we where we are in terms of these issues?
35:28 Why people should be looking at their clearinghouse costs.
36:59 What to know about Stedi.
