Hiring and retaining revenue cycle management staff has always been a challenge—and it’s more difficult now than ever. These statistics offer a glimpse into what RCM hiring managers are up against:
- 79% of health care professionals say the national worker shortage has affected them and their place of work.
- 75% of medical practice leaders ranked staffing as their biggest challenge heading into 2022.
- Nearly 20% of healthcare workers have left their jobs since February 2020. Of those who remain, almost 1/3 report having considered leaving.
- Healthcare employment is 500k jobs below the February 2020 pre-pandemic peak.
- Experts project a shortage of up to 3.2 million healthcare workers by 2026.
- 76% of practices reported changing their operations last year to handle staffing shortages.
Billing and coding staff are crucial to success in revenue cycle management. Artificial intelligence can complement an RCM team and help attract and retain employees. By automating frequently occurring dull, repetitive processes, you can give your billers and coders more bandwidth to focus on the higher-level work that engages their expertise and utilizes critical thinking. By improving their day-to-day workload through automation, you set your organization and your employees up for success.
“It’s not just our clinical staff, it’s our patient appointments center staff. We have had a difficult time finding front desk people. There are ways to take some of the work that they’re doing and automate it with AI and other tools that allow them to be able to work at the highest level of their education. That then allows that clinic to work more effectively, and if necessary, with a lower number of people. Not because we don’t want to hire them but because we honestly can’t find them,” explains Stephanie Lahr, MD, CIO & CMIO, of Monument Health.
Learn how the Revenue Cycle Engine can help your revenue cycle management team do more with less.