You may be familiar with how many drastic changes have come to the healthcare industry in the past decade alone. Legislation and regulations have shifted, forcing even the best professionals to scramble in hopes of keeping up. As the public alters their expectations of healthcare experts, insurance providers will change their policies to keep their customers happy. These factors lead to a loss in revenue and staffing issues.
If you’re understaffed, then your employees will struggle with an increased workload and fall behind in their tasks. Being overstaffed, however, can decrease efficiency while costing you unnecessary expenses. Here are the first steps to solving these issues.
Evaluate Your RCM
When faced with staffing issues, you first want to make sure there’s a good foundation in place for them to handle claims and billing. Ineffective RCM will lower your revenue no matter what other problems and situations have occurred. With an effective RCM strategy, your staff won’t waste any time figuring out solutions to a broken system.
With so many patients relying on insurance payments and extended payments, your RCM should be your top priority. It’s essential for keeping track of patients, dealing with claims on time, and sending out your billing and collections on a consistent schedule. When this process is easy and automated, your organization will need less staff to keep the system going (which means more cost savings!).
Calculate Your Staffing Requirements
The changing volume of patients may require you to regularly assess your staffing requirements. To do this, first determine your desired productivity for every employee. You should have high expectations from a team of professionals, but remember to be realistic. Working in healthcare is stressful, and setting your goals too high could lead to burnout, resulting in high turnover rates and decreased productivity, even from veteran staff.
High productivity allows for staff to successfully take on more intense workloads. You will need to look at both the current work volume and the expected future volume. When working at your desired pace, would your current number of staff handle their duties accurately and at a set schedule? These kinds of questions and calculations will help you best decide your staffing needs.
Help Staff Reach Peak Productivity
First, ensure that your claims and billing process is streamlined and efficient. This may be a factor in your staff’s decreased production when faced with a heavy workload. While hiring new employees can help to ease the burden of your current staff, it’s also a time-consuming process to find trained professionals who are right for your team. You should do all you can to help your current staff before hiring new people and risking overstaffing.
Some factors may be out of your control. If your staff is stressed, for example, you’ll need to do your best to minimize stress factors at work, as much as you possibly can. Survey them directly to learn how you can help — and then actually do it! Even in difficult situations, motivated employees will perform better and strive to find creative solutions to their problems. If necessary, consider outsourcing your RCM to a professional medical billing company.
Minimize Your Cyclical Claim Volumes
Changing work volumes are hurting the entire healthcare industry. A strong RCM is your best tool for weathering any staffing issues, but even the best in the industry are looking for innovative solutions to this problem. By following the above tips, you can take simple steps toward improving cyclical claim volumes at your organization.
Are you having a hard time with your RCM? Would you rather spend your time on other important tasks? Set up a quick consult with our team today to discuss your staffing problems and claims volume. Our services are designed to maximize your profits, and by collaborating directly with your team, we can provide the best results.