Voices: Heitor Barcellos, Vice President Of Product Management, Matrixcare

This article sponsored by MatrixCare, explores how best practices from the financial industry are influencing the senior living sector. In this Voices interview, Senior Housing News speaks with Heitor Barcellos, Vice President of Product Management at MatrixCare. Barcellos shares insights on how technology and strategic, convenience-driven methods are transforming senior living to help improve operational efficiency and deliver higher-quality outcomes for residents. MatrixCare’s commitment to a sustainable, tech-forward approach in senior living is evident, as they lead the industry toward streamlined processes and innovative care models.

Senior Housing News: What life and career experiences do you most draw from in your role today?

Heitor Barcellos: Most of my career has focused on the financial market, from retail banking to the creation of digital banks. I’ve been through the full wave of fintech and banking transformation over the past decade. When I saw the outdated technology still in use in senior living, such as paper statements, check payments, and mailed cash, I knew it was a clear opportunity to bring digital convenience to this industry.

There is also a generational shift happening. Many caregivers and family members who are responsible for residents in senior living facilities are digital natives today. This kind of shift happens in the financial industry as well, so it’s very familiar to me. With this kind of change comes many opportunities, and that’s ultimately what led me to this market and to MatrixCare.

What parallels do you draw between health care operations and financial services?

In both industries, convenience drives better outcomes. Adding convenience to any service improves outcomes for everyone involved. Each role has individual objectives, and prioritizing convenience helps meet those unique needs. For example, in senior living communities, multiple family members often share payment responsibilities. And just as online banking simplified payments, adding options like a “pay now” button on statements or the ability to setup automatic recurring payments can offer convenience, while helping to streamline the process and ensure payments are received on time.

Additionally, as in any industry, financial health can lead to better outcomes. With accurate, streamlined payment processes, senior living organizations are better positioned to deliver high-quality care. At MatrixCare, we recognize the benefits of automated digital systems, and senior living facilities require more than a traditional, single-focused EHR. We want to help providers focus more on what matters most—delivering high quality care to their residents. That’s why we’re creating an experience that’s more connected and automated, offering convenience that can help enhance efficiency and financial stability for senior living facilities while making life easier for families.

Is there anything senior living providers can learn from the finance industry based on your experience?

Absolutely. Just as credit scores assess loan risk in the finance industry, AI in healthcare can support decisions by helping assess if a resident has a higher propensity for a fall or to miss a medication. When joining MatrixCare, it amazed me that we could use this technology, which was developed to predict financial behavior, to help ensure residents receive more informed care.

This technology can also assist in referral management, helping providers evaluate incoming residents to determine if they’re able to deliver the necessary level of care. It can also be used to help estimate the length of stay, improving occupancy rates and maximizing care for more residents. It’s rewarding to see tools designed to assess financial risk now being used to improve care and safety in senior living to help ensure residents receive the best possible care.

Where do you see technology having the greatest potential to move the needle for senior living operators in today’s market?

Technology will be instrumental in enabling value-based care, where reimbursement is based on resident outcomes rather than specific treatments. For care facilities, the better the resident outcomes, the higher the reimbursement. Achieving this requires advanced technology to track and support these outcomes efficiently, focusing on the holistic picture rather than isolated treatments.

Another area with great potential is claims processing and reimbursement. Technology can help facilities receive fair and accurate payments for care, so they don’t have to rely on increasing healthcare costs to maximize profits. Facilities can maintain healthy margins, while insurers or government programs pay fair amounts. This balance is crucial for a sustainable healthcare model.

In what ways is MatrixCare supporting the senior living market and its unique challenges? Where do you foresee this being important concerning future industry trends?

MatrixCare offers more than traditional EHRs. Our solution features a full spectrum of tools that tackle a number of industry challenges, like revenue cycle management, accounts payable, payroll processing, and more.

We’re moving forward by automating complex processes so providers can focus on what matters most—providing exceptional resident care. For example, our Enterprise Financials is a tool that covers everything from reimbursements to payroll, helping to ease administrative burdens amid the staffing shortages. Senior living facilities don’t open their doors to manage bills and accounting. We take that on, so these facilities can focus on what they do best. The concept of “more than an EHR” is centered on that idea.

As a health care technology provider that operates in many different market segments, in what ways is MatrixCare uniquely positioned to support the senior living market?

The expression, “innovate or die”, resonates strongly in the tech world, including at MatrixCare. We’re driven by innovation, but it’s balanced. We leverage the opportunities AI offers along with the need to help facilities improve efficiency and day-to-day workflows. This dual approach allows us to respond to immediate needs within the senior living industry while staying ahead of the curve in a competitive market.

Finish this sentence: “In the senior living industry, 2024 has been defined by…”

…disruption.

Coming from fintech, I’ve seen firsthand how much progress can come from breaking away from old practices. Financial services often lead in innovation, and we’re now applying that same forward-thinking approach to senior living. By leveraging proven methodologies, we aim to drive real change and set a new standard. I’m confident we’ll be the disrupters in this market.

Editor’s note: This article has been edited for length and clarity.

MatrixCare is one of the country’s largest senior living and post-acute care technology providers, focusing on the entire continuum of care. To learn how MatrixCare can help your organization, visit https://www.matrixcare.com/.

The Voices Series is a sponsored content program featuring leading executives discussing trends, topics and more shaping their industry in a question-and-answer format. For more information on Voices, please contact sales@agingmedia.com.

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