Episode 28: Tim Coan and ALN: Helping independent practices save time and money with improved and specialized revenue cycle management
March 31, 2021
In this episode, we have Tim Coan, he is the co-founder and CEO of ALN, a company that provides revenue cycle management services to independent physician practices across the country. He has been working in healthcare for 30 years.
Tim is one of the founders of ALN and has served as its Chief Executive Officer since its inception in 2000. Tim directs ALN’s overall strategy and business development efforts. One of his primary roles is helping ALN’s clients develop their future business strategy. He is a frequent national speaker on healthcare issues and writes a blog on matters that are important to independent physicians.
Episode highlights:
• Who is Tim Coan and how he got into healthcare industry? [1:00]
• What is ALN and how do they serve people? [1:38]
• Since Tim is working with large companies, when it comes to working with all independent physician practices, what do they need to start focusing on when it comes to revenue cycle management, that they may not already be focusing on? [3:00]
• Why choose ALN as a company and how they serve them as a business solution [11:00]
• How technology advantages his company [12:00]
• The plumbing analogy means [14:00]
• What are some negative consequences for physicians who don't take this part of their business seriously or they aren't putting as much focus on it [15:00]
• What sort of like positive impacts, have you noticed personally with customers and clients that you've worked with, who've actually taken the proper steps to manage them in their revenue cycle management? [17:30]
• Client transformation through ALN [21:15]
• What sort of advice would Tim give to physician practices that are looking to work with a revenue cycle company? [24:50]
• Rodney, the host, with the rapid-fire round questions [26:50]
Resources and Links:
https://alnmm.com/
Connect with Tim
“Revenue cycle is important, part of the patient experience, which is an important part of how the patient feels about their position.” – [19:00]
In this episode, we have Tim Coan, he is the co-founder and CEO of ALN, a company that provides revenue cycle management services to independent physician practices across the country. He has been working in healthcare for 30 years.
Tim is one of the founders of ALN and has served as its Chief Executive Officer since inception in 2000. Tim directs ALN’s overall strategy and business development efforts. One of his primary roles is helping ALN’s clients develop their future business strategy. He is a frequent national speaker on healthcare issues and writes a blog on matters that are important to independent physicians.
Episode highlights:
Who is Tim Coan and how he got into the healthcare industry? [1:00]
Tim is the CEO and founder, responsible for ALN’s overall direction and provides guidance to ALN clients
as they develop their strategies for the future; has over 30 years’ experience in strategy, business
development and change management; has worked extensively in healthcare and with physicians in
multiple contexts throughout his career.
What is ALN and how do they serve people? [1:38]
According to Tim, ALN is in the revenue cycle management business, which means they turn the
work of our providers into cash on their behalf.
Since Tim is working with large companies when it comes to working with all independent physician
practices, what do they need to start focusing on when it comes to revenue cycle management, that
they may not already be focusing on? [3:00]
According to Tim “Provider reimbursement over, almost the entire 30 plus years that I've been
involved in healthcare has not gone up. It is flat or down, Medicare, for example, on a non inflation
adjusted basis, literally pays a few pennies more or a few pennies, less. For a unit of physician work
today than they did 20 years ago.”
Why choose ALN as a company and how they serve them as a business solution [11:00]
ALN is over 20 years now and the physician revenue cycle management business has long been, they
can either do it in-house or I could use what was called the billing company.
Often those were, small local firms, the advantages of them as the physicians would might know the
owner and feel very close to them
How technology advantages his company [12:00]
The amount of technology that's been deployed to automate these repetitive parts. And so as
technology has grown it; the business has gone from being a labor play.
The plumbing analogy means [14:00]
What are some negative consequences for physicians who don't take this part of their business
seriously or they aren't putting as much focus on it [15:00]
Tim explains sort of the revenue cycle and data analysis
What sort of positive impacts have Tim noticed personally with customers and clients that he’d
worked with, who've actually taken the proper steps to manage them in their revenue cycle
management? [17:30]
Client transformation through ALN [21:15]
Tim shared some of their usual encounters with their clients and insurance
What sort of advice would Tim give to physician practices that are looking to work with a revenue
cycle company? [24:50]
Tim shared advice to those who want to start revenue cycle company
Rodney, the host, with the rapid-fire round questions [26:50]
Resources and Links: