Hiring and retaining staff in the healthcare field is a challenge that isn’t going away anytime soon. The pandemic has taken a serious toll on healthcare workers across the industry, and the ever-evolving work landscape is tough to keep up with.
According to an MGMA Stat poll conducted in September 2021, 75% of medical practice leaders ranked staffing as their biggest challenge heading into 2022. Recruiters are facing a persistent lack of candidates for open roles combined with record-high turnover rates. Add to this ongoing pandemic challenges like lengthy quarantines, forced time off due to school closures, and vaccine mandate resistance, and revenue cycle management staffing challenges can seem insurmountable. Given all these challenges, it’s essential for medical organizations to make the most of the billing and coding staff they do have.
That’s where revenue cycle management process improvements come in. MGMA states that 76% of practices reported changing their operations last year to handle staffing shortages. By leveraging technology to reduce manual effort, medical groups can optimize their staff’s time and energy by enabling them to focus on only the most important tasks. As Elise Myers, VP of Revenue Cycle Clinical Revenue Integrity at Providence Health & Services explains in a recent interview with Becker’s Hospital Review, “The more you can automate low-level tasks, the more dollars you'll have available to hire people to handle more complex, strategic tasks.”
The RCxRules Revenue Cycle Engine achieves this by turning your team’s unique knowledge and expertise into highly tailored, automated rules that autocorrect billing and coding errors. It’s like having your best employee review every single charge—only instead of an employee it’s artificial intelligence. This AI frees up 50% of your staff’s time, so they can focus only on charges that require manual review.
Technology can also help tackle the issue of turnover and the need to train new staff. Important billing and coding information often ends up living in spreadsheets, on sticky notes, or even inside a seasoned employee’s brain—none of which are ideal when you’re facing staffing changes. The Revenue Cycle Engine acts as a central repository for all your hard-earned institutional knowledge. It gives you one location to host your organization’s billing and coding information, so you can keep up with ever-evolving payer requirements and make sure everyone on your team handles billing and coding issues exactly as instructed for every encounter.
To learn more about how the Revenue Cycle Engine can help you overcome revenue cycle management staffing challenges, set up a 1:1 meeting today.