5 Crucial Skills for Revenue Cycle Leadership and Empowerment 

The Currance team practices continuous improvement internally and with our clients. We constantly push the boundaries to achieve higher revenue cycle performance. We are the first to advocate for adopting systems and adapting processes to realize that ever harder goal. However, we also know from experience as Revenue Cycle operators it takes leadership across the healthcare organization to embrace a culture of intelligent automation. The last mile of empowering the entire RevCycle team to adopt change and lead differently is the difference between success and failure at the worst and stagnation in the more typical scenario.  

Without proper and clear leadership, adoption of revenue cycle management improvements like automation can be hampered or even create more costs to implement. Driving change requires skills and perspective such as:  

  1. Technology expertise – With intelligent automation being inherently tech-based, understanding technology is critical. Leaders must be able to grasp everything from coding to patient processing to EHRs and EMRs as well as solutions for billing and collections process.  Having the right partners to navigate what’s needed and when can help navigate a crowded and loud market of would be vendors knocking on the door but perhaps not leading your organization down the right path.
  1. End-to-end perspective – A true RCM leader will be able to understand and communicate how the revenue cycle impacts all levels of hospital operations and multiple departments or teams. Teams should feel united, rather than siloed in their goals and tasks in management the revenue cycle. Integration must be nurtured to streamline processes and innovation encouraged for the best ROI.  
  1. Relationship building – Outperforming RevCycle leaders have an undeniable passion for healthcare and devote time to building long-term relationships between departments, patients, and business partners. This includes understanding the needs reaching beyond doctors and nurses all the way to the patient experience on an individual and system-wide level.  
  1. Team empowerment - Revenue cycle managers must expend special effort to guide and mentor their teams on RCM best practices and automation systems. Outperforming leaders go beyond intellectual knowledge and provide better communication, enforce performance standards based on data, and educate teams on the latest solutions being implemented to ensure everyone is on board with the effort and accountable for the results.  
  1. Flexibility and resourcefulness - Alongside the traditional leadership skills any RCM executive should possess, healthcare also offers many “gray area” challenges that require high flexibility and resourcefulness to deal with. RCM leaders must be able to navigate complex issues in a constantly shifting industry.

A few questions we ask our new customers include:

  • How are your RCM leaders championing the cause for RevCycle performance to the rest of the leadership team?
  • Are your teams being empowered to embrace intelligent automation for RCM and do they understand the long-term benefits it can provide?  

Feel free to email us to schedule a demo of our patented Revenue Cycle management tools designed to empower RCM leaders with not just actionable insights, but the power to go deep into process improvements and individual performance scorecards to drive sustained performance improvement. Contact us at sales@currance.com.  

How to Establish an Empowerment Culture for RCM

Traditional methods of revenue cycle management (RCM) are becoming increasingly complex and difficult to maintain, especially in the modern accelerated adoption of remote workforces and work-from-home teams. .  

Yet this tech-based approach to the working environment can also help companies with their RCM, with intelligent automation increasing profitability management, giving oversight to performance metrics, and breaking down a siloed approach to revenue cycle processes.  

However, true RCM automation goes beyond just leveraging technology, either within your organization or via a third-party RCM vendor. It requires having a culture where your staff feel empowered to both embrace the change brought about by RCM automation plus feel equipped with the best training and expertise to support new strategies.   

If you want to bring automation into your revenue cycle, recognize that this doesn’t mean your team will be entirely taken out of the process, nor should they feel forgotten or left behind. Your team should remain involved in using the technology that is helping make their jobs more efficient.  

How can you empower your team in the context of RCM?   

  • Embrace change – Don’t let a culture of fear sneak into your organization. Instead of holding off on high-ROI automation for your RCM processes, help your team get a big-picture perspective of how their current expertise and skills can be better applied in other areas as technology takes over more high-stress and labor-intensive workflows.   
  • Improve team morale - Instead of sticking employees with repetitive and sometimes redundant operations for revenue cycle management, RCM automation can let your staff engage with higher-value work that provides greater satisfaction and investment in the organization—creating higher retention and less turnover.  
  • Reduce errors - Rather than having to deal with revenue cycle error detecting, reporting, and cleanup, software solutions can provide flawless operations that heighten overall productivity and accuracy, with better results for your patients.  
  • Streamline workflows - What team doesn’t enjoy getting more work done in less time? Free up your staff by automating many of the processes involved in claims submissions, reporting backlogs, and cycle times.  
  • Deliver control of operating costs – Help your team see that RCM automation can help cut costs for claims processing, with fewer people needed as new hires (with associated training) while the organization can grow in both its clinical and financial operations.  

Is your team wondering how the company culture will shift with more revenue cycle management being handled by intelligent automation systems? There are ways to educate and train them to embrace this industry shift in significant ways and get them excited for the opportunities it generates. Contact us to learn about revenue cycle automation and how it can be integrated with your organization in the most positive way.  

To find out more about how Currance can support your team with workforce development, training, and data-driven empowerment, contact us: sales@currance.com.

Sources:   

  1. https://www.patientco.com/blog/tips-maximize-revenue-cycle-efficiency/  
  1. https://www.algonquincollege.com/rcm/files/2014/05/Creating-a-Culture-of-Empowerment.pdf   
  1. https://www.rcxrules.com/blog/3-ways-to-make-your-revenue-cycle-team-happier-in-2020