Competition is driving down prices. Margins are shrinking. It’s the new normal in healthcare. This state of affairs has made it more essential than ever for hospitals and health systems to have efficient and robust revenue cycle management. That means having the right people for the job.
Competition for top revenue cycle management talent — people with degrees in healthcare management and administration — is intense. Here are three ways your organization can increase the odds of getting the right people in the door.
The young professionals of today aren’t what they were in years past. Other industries have caught on and have started catering to the new Millennial generation, which is by now moving into management positions. Healthcare is lagging behind. Here are three tips to set your organization apart from the competition.
Don’t Limit Your Searches
Don’t limit your search to candidates that are already proficient in using revenue cycle management and chargemaster software. Focus on getting the most talented people in the door. Hire fresh graduates and offer them training.
Provide Opportunities for Growth
Average job tenureship has been dropping for years. People no longer expect to stay at their first job for 40 years. Rather than fight the trend, acknowledge it and provide new hires with as many opportunities to grow and learn new skills as possible. When employees feel like their company is investing in them as individuals — not just as paid employees — they tend to stick around longer and work harder. Someone in billing can be trained in coding; someone in coding can be trained in billing, and so on and so forth.
Encourage Healthy Work-Life Balance
Employees in billing, revenue cycle, and coding departments have enjoyed flex work and remote-working days for years in many organizations. Few things, besides tradition, are preventing these freedoms from being enjoyed in billing and collection departments. Encouraging your employees to maintain a healthy work-life balance isn’t just about flexibility; you have to give them the tools to do it. That means investing in the latest time-saving technologies whenever possible and providing continuing education and training to ensure people are working smarter, not harder.
MedCom Solutions creates patented technology and state-of-the-art software to help medical service providers meet rapidly escalating and changing medical billing demands by conducting 835 Payment Analysis for detailed information. Our Chargemaster, Pricing, and Compliance solutions have yielded hundreds of millions in net revenue for healthcare providers across the country.
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