Imagine’s fearless leader and CEO, Sam Khashman, sat down with the team at the RBMA Bulletin to talk about taking business risks, data security, and the changing trend in practice collections. Take a look at what he had to say in the RBMA May-June Bulletin
Thought Leader spotlight: When you founded the company, did you have a sense of what it would grow into and that you would still be running it today?
Thinking back to the beginning, our vision, endless ideas and drive would have had us bigger and more successful in our own minds. I think we always thought of super success without an end in sight. We probably didn’t quite think about all the mountains we would have to climb and the hurdles that we would have to overcome; and that endless ideas and drive command an equal amount of resources. I am certain that every entrepreneur firmly believes in their success and the immortality of their idea, their company and their team. In our case, we set nonnegotiable goals. Success and servant leadership are on top, and we are grateful that they have been well received for 15 years. How important has taking risks and innovating been to your company’s overall success?
I believe that taking more risks than anyone else thinks is practical and surrounding yourself with a very creative team that can execute is key to any company’s success. The French romantic Victor Hugo wrote, “nothing is as powerful as an idea whose time has come.” In modern times we might add “…and a strong team and likeminded partners that can execute and maintain relationships.” Additionally, we believe that servant leadership and continuous innovation of systems, processes and products play a vital role. Data security is becoming a big challenge for healthcare. Have you seen the need for security go up since ImagineSoftware was launched?
The healthcare IT landscape has changed significantly and the need for security has dramatically increased since we first began our journey. Cybersecurity was a Star Trek, insider, geek term in 2000. Today cyber-attack, -breach, -security are on the minds of most Americans and front and center for any business with sensitive data. Particularly scary breaches are the ones that involve PHI and surrounding information because these constitute the most severe breach of privacy. It seems that not a week goes by without news breaking of a healthcare system, practice or cloud provider being breached. Unfortunately, most breaches are successful on the attacker’s end and a failure on the side of the folks charged with safeguarding the data. The short version is that if an individual actor, an organization or even a foreign government spends enough time and resources, they will likely be able to get in.
Our company has implemented multilevel systems to include intrusion prevention and intrusion detection at the n-point in addition to putting in place the proper protocols for stop-of service and risk mitigation. We have added an entire department of high powered cyber folks headed up by our chief strategy officer, a veteran in the cyber field who has implemented mission-critical systems for national interests. These folks are available to our clients and assist in critical infrastructure design well beyond the Imagine system. Finally, we have built our own data center to ensure that we provide clients who like the convenience that cloud-based systems bring but don’t want to take a gamble on a third party with a viable alternative. What do you anticipate will happen to practice collections and how will Imagine play a role?
The recent reimbursement cuts and the combination of procedures that hit radiologists’ pocket books may have been just a preview to what the mounting patient responsibility component will become. The theory was that true self-pay would disappear, but the reality is that the dollar volume simply shifted from one bucket to the next. Deductible, self-pay after insurance, enrollment periods, etc. impact collections more now than ever before. In anticipation of this shift, we helped create a number of patient payment solutions that assist our clients in the collection effort while maintaining a healthy and positive relationship with the patients. Imagine makes these options and systems available to its clients without the need or cost of additional software licensing. Our clients have had great success in not just the mitigation but also the increase of income on this journey.