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How to Fix Your Revenue Cycle Management Department

by | Mar 29, 2022 | coding, Insurance Discovery, Medical Billing, Revenue Cycle Management

Over the last couple of years, frontline healthcare workers are not the only ones who have been experiencing the effects of staffing shortages. According to a recent survey from the Healthcare Financial Management Association (HFMA), the most in-demand jobs within the revenue cycle management sector for healthcare finance leaders were registrars, billing specialists, and patient follow-up staff.  

As revenue cycle leaders struggle to maintain a sturdy and well-built operation, their facilities and organizations are not collecting the dollars they should, thus unnecessarily impacting revenue. 

That’s why we’re here to help.

Why are revenue cycle management departments struggling  

Revenue cycle management departments are essential to the success of healthcare organizations. Still, since they are not on the patient care side of the business, most decisions made affecting the department are reactive rather than proactive.   

“When there’s a demand, revenue cycle specialists are hired. When there’s less demand, they’re let go. This reactionary hiring cycle results in permanent workers often facing too much work, and patients having a less-than-stellar financial experience.”  

This is the core problem with most revenue cycle management departments because you’re creating a perpetual cycle of hiring and training new revenue cycle specialists. Not only are you wasting time and resources, but the increased workload for those who weren’t let go are facing workloads that are impossible to manage.   

Succinctly put, it’s counterproductive.   

Our revenue cycle management solution  

We understand it can be difficult finding the right talent or candidates to fill the vacancies at every stage of your revenue cycle process; that’s why we offer a simple solution: supplemental staffing.   

By outsourcing your revenue cycle management needs to a team that can perform all aspects of the revenue cycle process, from billing and coding to eligibility and enrollment (non-clinical case management), can you begin to retake control of your department and free up valuable time for your in-house employees to tend to more important matters such as value-generating tasks.   

Our approach to resolving your uncompensated care costs is built on a performance-based model, which is significantly more cost-effective for you while also providing a better ROI. Our method guarantees accountability and assurance that more money will not be unnecessarily lost from your facility or organization.    

The future of revenue cycle management   

The foundational work for achieving the full potential from your future revenue cycle can begin immediately with a comprehensive review of your current capabilities.   

While a full suite of capabilities cannot be achieved overnight, the vision of a future revenue cycle depends on what strategic choices and investments finance and revenue cycle leaders make today. Incremental changes can lead to revolutionary experiences for those inside the revenue cycle and the patients you serve.  

Talk to us today   

If you’d like to learn more about what American Exchange can do for your staffing shortage and uncompensated care needs, you can read our Addressing Your Staffing Shortage flyer, visit our page, or get in contact with us today!