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One of the biggest challenges facing revenue cycle management today is the productivity of the workforce.\u00a0 With the shift to remote and hybrid work environments over the past few years, it has become much harder to manage the day-to-day activities of a revenue cycle staff.<\/p>\n
Core functions like denials and cash collection used to be managed from a central location.\u00a0 Managers sitting a few steps away from the staff made it easy to monitor the team \u2013 keeping them focused and on task while lending a hand when something complicated arose.<\/p>\n
Now that remote work has entered the equation, it has become nearly impossible for management teams to have the oversight required to deliver exceptional results for their systems.\u00a0 Let\u2019s examine some of the biggest problems the industry faces:<\/p>\n
Worker Mobility<\/strong><\/p>\n Once it became clear that workers could be effective working remotely, many job seekers decided that they didn\u2019t want to work from an office again.\u00a0 For better or worse, many folks in the talent pool want remote work only, and if that\u2019s not an option, they will find a job elsewhere.\u00a0 Five years ago, that would have been difficult to do.\u00a0 But now that the industry has embraced remote work, rev cycle staff can work for any hospital system in the U.S. regardless of their physical location as long as they have an internet connection and cell phone.<\/p>\n Wage Competition<\/strong><\/p>\n Because hospital systems are able to hire talent from anywhere, we have seen an uptick in corporate poaching.\u00a0 Major systems with very healthy financials are able to offer 10-25% more to lure top-notch employees away from their current jobs.\u00a0 That type of financial gain is too great for workers to turn down in most cases and is enough to turn even the most loyal employees.<\/p>\n Effort Monitoring<\/strong><\/p>\n While many systems have implemented worker monitoring solutions like Kronos, those tools are incapable of validating a worker\u2019s true effort.\u00a0 It\u2019s great to see how many phone calls or talk time someone has each day, but it\u2019s easy to spoof.\u00a0 Some of the systems we have spoken with have found out recently that many of their key employees are actually working multiple jobs but have made it look like they are working a full day with their system.<\/p>\n