The healthcare industry is always sparking debate when it comes to the technological impact it has experienced in recent years. Artificial Intelligence (AI) in the healthcare industry has made some disruptive changes that have become prevalent in recent years. AI learns from the previous data input and analyzes it over time to provide quicker analysis than if deciphered manually. These details have encouraged leaders to come up with innovative ideas to design all-in-one healthcare billing systems.
Sam Khashman, President and CEO of ImagineSoftware represents one such leader who has constituted an example in the healthcare industry by developing automated medical billing software and revenue cycle management applications. His ideas have covered the support and the understandings of billing companies, medical practices, and automated patient payment processing services.
A Comprehensive Approach “If you can imagine it, they can do it.” This very statement was proclaimed by one of ImagineSoftware’s first clients and shaped the future of the company. ImagineSoftware was incorporated and launched in 2000 by Sam Khashman as a workflow and document imaging company. After successfully developing enterprise-wide analysis and financial systems in 2002, Imagine began to focus on the healthcare IT sector in 2003. The initial product was not designed for healthcare but shifted in this direction not long after the system was first developed. They re-engineered the software to accommodate the needs of their initial clients who opened the door for Imagine to gain extensive ground in radiology billing.
“We never forget who we work for. Without our clients, we’re just a software company. They are the reason we’re successful.”
Ever since the inception of ImagineSoftware, they have aimed to meet and exceed the needs of their clients and that’s where their product offerings have taken them. In developing a new product or utilizing a partnership, Imagine’s goal was always to bring a solution to the table that solved a problem for their clients. Clients have helped them drive their success and ImagineSoftware takes their needs, suggestions, and requests to heart. Khashman states that “Clients are the foundation behind what we decide to include in the Imagine product suite.” As a result, Imagine has been able to appeal to the market by truly creating systems that are focused on the revenue cycle management landscape as a whole — making it easier to navigate and more profitable for all those involved, while enhancing the client’s reputation by providing an enhanced patient experience.
After 20 years, ImagineSoftware’s goal remains the same: “To be the leading healthcare revenue cycle management platform.” Revenue cycle management possesses the potential to financially make or break healthcare organizations. Besides, with the ever-changing policies and regulations, effective billing and collection processes are becoming more important than ever for medical billing companies, practices, and hospitals to stay afloat. Designed for a complete medical billing solution, ImagineSoftware keeps reinventing revenue cycle management to create a more streamlined and patient-centered experience.
Vision for the Future
Khashman’s vision is to take the company to the next level by leveraging smarter technology and designing new tools that will continue to set them apart in the industry. There is more opportunity than ever to capitalize on the company’s success while chasing ambitious goals. Khashman plans to add several strong resources to his team while expanding his reach within the healthcare ecosystem. Additionally, he wants to leverage new and existing partnerships to give his clients the solutions they need to navigate healthcare billing and reimbursement effectively.
Key Attributes as CEO
Khashman believes every CEO should make certain that their words, beliefs, and actions align with each other. CEOs should be decisive while employing critical sophisticated skills as they build their opinion. As the top executive, they should always remember they must both care for team members as much as they care about people outside of their organization. Practicing servant leadership and building strong relationships with clients, partners and, co-workers while remaining grounded is crucial to the success of an organization.
Communication between Imagine and their clients is still a key factor in how Imagine does business, as it is a conduit for continuous learning and development. In order to accelerate growth and provide vision, Khashman has enabled his team to come up with new innovations and implement them to enhance the client’s experience. “The job of any CEO is to dream big, as there is no magic in thinking small. Coaching employees to do the same constitutes an essential part of moving the team forward,” Khashman says.
There are several challenges CEOs face when running a business. Both talent acquisition and talent retention are crucial, and naturally every company competes for the best-of-the-best resources. Beyond skills, it can be difficult to find the right talent that aligns with the company’s culture, values, and brand. “We would like to think we can hire the perfect fit, but it’s important to have realistic expectations. In that respect, sometimes onboarding can be a challenge,” says Khashman. Further ensuring the company leadership can grow at the same rate as the company can pose an interesting challenge, in every aspect.
Khashman knows CEOs are driven to succeed for their teams, stakeholders, clients, and partners. Finding the right balance between driving the success of the organization and providing a relaxed environment to prevent burn out certainly makes the role of CEOs more interesting. Staying connected to the clients, partners, and employees at any given minute can be a struggle to find the time to unwind and unplug to keep themselves, and one’s organization, healthy and productive.
Words for Emerging Leaders
At the heart, ImagineSoftware’s core value is servant leadership. Each clients’ business challenges are unique making the selection of medical billing software a complicated process. To meet the needs of health organizations of all shapes and sizes, ImagineSoftware’s three areas of focus are medical billing solutions that cater to numerous specialties, exceptional implementation, and customer support. Much of ImagineSoftware’s growth over the years can be attributed to its dedication to customers. “We never forget who we work for. Without our clients, we’re just a software company. They are the reason we’re successful,” says Khashman.
In addition, he also states that one must practice a form of servant leadership and make sure that your words and actions match. Restate the vision statement as often as you can and ensure that the company values are in people’s hearts and minds, not just on the wall. Lead by example, be confident and trust your team. Course correct when necessary and always be open to feedback. Don’t become the bottleneck in making tough decisions but admit to yourself when you need help and then find it.
Effective Use of Technology
The key to a growth-oriented mindset is continuous learning. ImagineSoftware’s business is technology. “If we aren’t on the cutting-edge, we’re last in line,” asserts Khashman. He has been always intrigued by technological advancements, both current, and early stages. Technology touches every part of our daily lives and much like what we develop, it is designed to improve a process or enhance quality characteristics. Khashman makes it a priority to stay at the forefront of new technology to keep Imagine moving forward. With the rise of AI (and not just in healthcare but many other industries), people are becoming more reliant on the role technology will play. While it is important, and some would say a valid concern, Khashman doesn’t feel that technology will ever truly be able to replace the human component but instead, allow us to grow.