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How can healthcare leaders create a healthy future that benefits their company and others? This is an urgent issue, given the various obstacles and the escalating competition. Therefore, leaders must develop a more astute strategy to thrive in the market and stay informed on technological advances.
Our latest edition, ‘The Most Inspiring Healthcare Leader of the Year 2024’, aims to highlight such leaders. In the following piece, we’re featuring H.H. Chen, an influential business professional and thought leader. His remarkable efforts are evidence of CereSoft’s explosive growth.
The Man of the Hour
Dr. Hsing-Hen Chen is an accomplished and successful leader. He kickstarted his career by teaching at the University of Maryland after obtaining his Ph.D. in physics. In tandem, he also pioneered the development of machine-readable technologies to tackle paper management challenges. This innovative endeavor caught the attention of Adobe, leading to the acquisition of his company in 1993. Adobe integrated this groundbreaking technology into its new product, Adobe Acrobat Capture, which became a well-known, profitable product worldwide.
In 1994, he established CereSoft, one of the world’s fastest-growing and largest private healthcare revenue cycle services companies, processing billions of healthcare payments for some of the most well-known healthcare systems in the US.
Dealing with Uncertainties
When asked how they dealt with the challenges, Chen responded, “Being a minority-owned company, we had to overcome the larger, more well-funded companies to show the healthcare industry that sometimes bigger is not better.”
He goes on, “The way we overcome the challenges is by providing world-class customer service and out-smarting and out-working our competition.”
Nurturing Talent and Skill
The CereSoft team is capable, confident, and motivated to handle challenges. Every group leader is an experienced professional and top in their field of expertise.
“Our people are our most important asset,” according to H.H. Chen. His role is to mentor them and allow them to flourish in terms of thinking and the execution of their jobs. He feels privileged to have one of the finest revenue-cycle personnel in the healthcare sector. They are competent in their field. They continue to advance as a fearless and self-assured team because of this understanding.
Sustaining Adaptability and Resilience
The team at CereSoft is always looking 3 to 5 years out on technology and healthcare industry trends to be on top of the next new thing. They have the mindset that what was developed yesterday was yesterday’s news, and what they are developing today will change the healthcare revenue cycle forever. They never stop thinking about the future.
Standing out in an Ever Competitive Market
Being an agile company, the CereSoft team always listens to the client’s suggestions and can adapt them for all their healthcare clients. They are a full-cycle services company, ranging from submitting claims to posting both patient and insurance payments while performing full reconciliations from the bank, revenue cycle, and finance. Additionally, they have created the first digital mailroom in the healthcare sector, eliminating the need to sort non-financial insurance communications manually.
Industry Insights: Emerging Technologies and Trends
Artificial intelligence, RPAs, and APIs are the top three things that will change the healthcare revenue cycle. H.H. Chen and his team are currently rolling out all three in 2023. The way providers connect to payers will evolve using APIs and RPAs for real-time communication.
The COVID-19 epidemic, inflation, recession, and current global unrest significantly affect the healthcare sector.
The Next Feats to Achieve
Chen’s plans are to invest in people, empower them to be the best version of themselves with top-notch tools and opportunities, and enable them to obtain knowledge by visiting tradeshows and online seminars. He also plans to continue evolving CereSoft by developing unique tool kits that include AI, RPAs, and APIs between payers and providers or within the provider environment, only performing automation to eliminate the manual, repetitive tasks employees do today. “As an educator at heart, I never stop learning. I constantly read about technology and industry trends while listening to our clients, stated the inspiring leader when asked how he keeps himself growing on a personal and professional level.
