As Advantum Health’s CFO, he’s leveraging his financial services acumen to help healthcare providers focus on what they do best: patient care.
Join us for Advantum Health’s Revenue Cycle Insiders series, a monthly installment where we uncover the invaluable experiences and perspectives of our company’s revenue cycle leaders and team members. This month, meet Chris Taft, Chief Financial Officer at Advantum Health.
Question: When did you start working in the healthcare revenue cycle industry?
Answer: In January 2016, I joined Advantum Health and started my journey into the Revenue Cycle and Healthcare industries, marking a turning point in my career. Before that, I had worked in the banking and financial services sectors, where I had the privilege of working for some large organizations and several startup ventures.
Question: What attracted you to the healthcare industry, and specifically the revenue cycle?
Answer: I knew that I would eventually become involved in healthcare in some capacity. Not only is Louisville, KY, a major hub for the healthcare sector, but the healthcare industry significantly affects our lives and touches the entire economy in one way or another.
Despite healthcare’s critical role in our lives, most Americans need a clearer understanding of how it operates. Additionally, healthcare costs are consistently rising, posing a significant challenge for individuals and the economy as a whole.
Working in the Healthcare Revenue Cycle has allowed me to combine my business acumen with my passion for helping others. At Advantum Health, I’ve found a company that shares my values and aspirations.
When we partner with healthcare providers, we free up their time and money so they can focus on enhancing patient health and ultimately reducing the cost of care. Our services are especially significant in an industry that still relies more on manual processes than necessary.
We can create a positive impact by streamlining and implementing efficient solutions, optimizing operations, and improving healthcare outcomes.
Question: What is happening in the next six months in your area of expertise that excites you?
Answer: The continued emphasis on automation, artificial intelligence (AI), and other cost-cutting, denial-reducing, and payment velocity-increasing technologies is tremendously exciting. We have only begun to explore the potential within our industry.
Question: What are some of the biggest challenges your industry faces in the short term (one year or less)? What about in the long term?
Answer: The most significant challenge is safeguarding our data and systems against malicious actors.
Frequent security and data breaches have become common in the healthcare industry, leading to increased operational costs and data integrity challenges nationwide.
At Advantum Health, we prioritize IT security, acknowledging that it represents a substantial organizational expense. However, there is no room for compromise when it comes to protecting patient health information (PHI).
Question: If you could time travel, what advice would you give to yourself ten years ago?
Answer: If I could time travel, I would tell myself to take more risks because, in 10 years, I can always time travel back and try again.
Question: What’s the best (or worst) leadership advice you’ve received?
Answer: “Do right and fear no person,” and live your dream and not someone else’s. You have to be able to look in the mirror and be proud of the person staring back at you.