The Future Leaders Awards program is brought to you in partnership with Homecare Homebase. The program is designed to recognize up-and-coming industry members who are shaping the next decade of home health, hospice care, senior housing, skilled nursing, and behavioral health. To see this year’s Future Leaders, visit https://futureleaders.agingmedia.com/.
Erin Masterson, associate principal and senior vice president of post-acute RCM at SimiTree, has been named a 2024 Future Leader by Home Health Care News.
To become a Future Leader, an individual is nominated by their peers. The candidate must be a high-performing employee who is 40 years old or younger, a passionate worker who knows how to put vision into action, and an advocate for seniors, and the committed professionals who ensure their wellbeing.
Masterson sat down with Home Health Care News to talk about how working at a startup led to her current career, and why integrating advanced technology and data analytics is so crucial for home-based care providers.
What drew you to this industry?
When I first started my career, I had no idea what home care was. As a finance major, I initially found the prospect of a career in financial advising overwhelming, so I decided to pivot and joined a health care startup. I loved the thought of being part of a young company that was looking to do things their way. Through my work in revenue cycle management, I began to understand and appreciate the home care industry. My passion for this industry truly developed during a personal experience.
When my grandfather fell ill and was placed on hospice care, followed by my grandmother’s similar situation shortly after, my family found immense comfort in the care and support provided. The compassion and assistance extended to both my grandparents and our family during that challenging time left a profound impact on me. Seeing the difference that quality home care made for my family solidified my commitment to this industry. Years later, I was fortunate to work with the same agency that had supported my grandparents. I still cherish the quilt made by the volunteers for my grandparents as a lasting reminder of the impact home care can have.
What’s your biggest lesson learned since starting to work in this industry?
Starting out as a young professional in revenue cycle management within the home care industry, the biggest lesson I’ve learned is the importance of effective communication and collaboration between departments. Revenue cycle management is not just about processing claims and managing finances; it’s deeply interconnected with clinical and administrative functions. Understanding how each team’s actions impact the overall revenue cycle has highlighted the need for a holistic approach to problem-solving. Building strong relationships with colleagues, fostering a collaborative environment, and being proactive in addressing potential issues has proven essential in ensuring smooth operations and optimizing revenue.
If you could change one thing with an eye toward the future of home health or home care, what would it be?
Integrating advanced technology and data analytics can significantly enhance the efficiency of home health care, but I believe that is where we are already heading. If I could change one thing, it would be evolving the relationship between payers and providers. By fostering a collaborative approach that focuses not just on quality and outcomes, but also on reducing the administrative burden on providers, such as authorization requirements and unclear billing processes, we can help alleviate the financial risks faced by health care professionals. This shift would support a more seamless, effective, and sustainable home care system.
What do you foresee as being different about the home health or home care industry looking ahead to 2025?
I foresee technology taking off in 2025 in the home health or home care industries in several significant ways – advancement of AI and predictive analytics, increased use of robotic process automation (RPA), and improved data security measures.
In a word, how would you describe the future of home health or home care?
Transformative
What quality must all Future Leaders possess?
For me, it’s a close call between vision and execution. Both are crucial. Vision involves anticipating future opportunities, inspiring others with a clear and motivating direction, and adapting to changing circumstances. It includes setting strategic objectives, anticipating challenges, and guiding a team or organization towards achieving results. However, without effective execution, a vision cannot be realized. Execution is what brings a vision to life.
To learn more about the Future Leaders program, visit https://futureleaders.agingmedia.com/.