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16 Jul 4 vital steps needed to improve your bottom line through staff, process, and technology

Posted at 14:43h in Policy and Procedure Development and Implementation, Process Improvement, Revenue Cycle Interim Management by

Hospitals and health systems are under constant pressure to maximize value and increase efficiency in every part of the organization. Financial challenges ranked No. 1 again on the list of hospital CEOs’ top concerns in 2017, according to the American College of Healthcare Executives’ annual survey of top issues confronting hospitals. Governmental mandates ranked second, followed by personnel shortages.

Policy transformation, new financial models, healthcare reforms and reversals, and patient-centric approach contributed to the disruption of the revenue across all healthcare operations.

Here are 4 vital steps needed to manage the constantly changing environment and improve your bottom line through staff, process, and technology: 

1. Communicate with your team

Nobody likes to walk into the office one morning to find out that the workflow has changed completely after working in the organization for 5 years. Your team can provide valuable input about the most significant workflow and system problems that they are facing right now. Not to mention your staff will most likely use the software tools if they have had some say so in selecting them.

2. Train your staff

Revenue cycle management and billing systems are not always easy to use without any directions. It is not like using the latest iPhone. You have to set time aside to provide proper training. Creative approaches such as online training modules with video guides explaining each step of the way are the keys to a successful and efficient workflow.

3. Explain the benefits

Sometimes it can feel like the “Whys” coming from your team are overwhelming. Be patient and talk to your employees, walk them through the benefits of the new system. Use relevant examples that will make your team’s everyday workflow easier.

4. Identify forward thinkers

Any indication of a change in existing workflow will be met with hesitation, or maybe a full-on battle. Identify a few forward-thinking adapters, staff members who are not afraid of the change and are also well-liked amongst colleagues. Incentivize them to promote the new technology and to help other team members as they warm up to the idea.

In summary, to improve the hospital’s bottom line, it is essential to understand the vital relationship between staff, process, and technology. Ensuring that there is an alignment between them from the beginning of the claim to the end will ensure successfully managing the health system’s revenue.

Sunlit Cove Healthcare Consultants

We provide management and consulting services to help healthcare businesses run efficiently. Navigating the dynamic and complex revenue cycle management is a challenge for many health plans, health care vendors, and providers. Our consulting services are available to assist with your day-to-day operations and provide expertise in growth and change management. We manage all aspects of your enterprise from the development of the revenue cycle management process to the completion of your business cycle.

Related: Revenue Cycle Interim Management