Healthcare Reimagined
On Healthcare reimagined, we speak with clinicians, entrepreneurs, and provider and payor executives who are innovating within US Healthcare.
We are sponsored by Covered Health, which is automating the most challenging and time consuming elements of appealing denied medical claims for providers. By streamlining access to diverse databases and inputs, Covered uses technology to helps RCM specialists identify denial root causes, and appeal them
Healthcare Reimagined
Srulik Dvorsky, CEO and Founder of Tailormed
On June 22nd, 2020, I spoke with Israel (Srulik) Dvorsky, CEO and founder of TailorMed. After 6 members of Srulik's family were diagnosed with cancer, his frustrations with payment issues around their treatment, his passion for helping people, and his love for and experience with technology led him to create an end-to-end solution for patient financial navigation services via a comprehensive software solution.
Tailormed allows patients to afford care they couldn't otherwise afford, and helps providers receive payment for care that would otherwise be uncompensated. In an 8 month case study with the Cowell Family cancer center, they reviewed 244 patients, and were able to secure one or more forms of assistance for 74% of those patients based on financial opportunities identified by the software. Thanks to Tailormed, over $3.5 million in approved savings were secured for those patients.
SHCI Website: https://www.shci.org/
LinkedIn: https://www.linkedin.com/company/theshci/
Video preview: http://bit.ly/tailormedSHCI
Spotify: http://bit.ly/healthcarereimagined
Time Stamps
0:00 - Introduction, SHCI statement about racial injustice/health inequity
1:10 - Overview of Tailormed/tackling issue of financial toxicity
2:16 - "The company has an automated system that finds resources of alternative revenue for the hospital and the beneficiary is the patient, meaning that instead of having the patient pay the thousands and tens of thousands of dollars they need for whatever the care they require, we are providing them other activities like foundation grants, governmental plans, pharmacopeia cards and even optimizing their insurance coverage."
3:04 - How Tailormed is helping patients who couldn't otherwise afford care
4:45- COVID-19's impact on business development
6:36- A sample patient journey with and without Tailormed
9:00 - Tailormed from the hospital's perspectvie
9:56 - Hospitals have 3-5x higher rates of being able to recoup funds with TaylorMade as opposed to without.
11:05 - The impact of the Pandemic on revenue cycle management
13:45 - What inspired Srulik to start Tailormed
14:51 - Other companies working on end-to-end automated financial navigation, and how Tailormed differentiates itself
16:46- Wrapping up