More than one-third of nurses plan to leave their positions by the end of 2022, prolonging the nursing shortage. In addition to nurses, there is a strong trend of struggling to retain revenue cycle staff. Approximately 25 percent of healthcare finance leaders report that their revenue cycle team is short by approximately 20 people. Finding replacement staff is proving to be its own challenge in addition to the high cost of turnover, hospitals are in a hole. An estimated 92% of hospital administrators are still struggling to keep administrative and support staff, even while increasing salary expectations.
With staff vacancies at an all-time high and up to a quarter of the current revenue cycle workforce considering leaving their current positions due to factors related to the pandemic, it is critical for hospitals and health systems to consider immediately impactful solutions to alleviate medical burnout in their nursing staff.
Outsourcing can be key to financial recovery and increasing workflow output.
What makes an advantageous outsourcing partner?
An essential factor to consider when outsourcing is flexibility. A flexible outsourcing partner should be able to keep your organization’s current requirements. Your partner should mesh with your business models and communication structure currently in place within your organization.
Outsourcing agents have a much larger pool of qualified revenue cycle experts, so don’t settle for just anyone. Your outsourcing partner should have quality clinical experience. This way, your organization doesn’t have to worry about onboarding or training; your partner can provide instruction for your existing team so that you can immediately start focusing on process improvements to optimize your revenue cycle.
Collaboration between your outsourcing partner and your team should be seamless—an extension of your current team, not an intrusion. Partners should carefully listen to your current pain points and create an improvement plan based on your organization’s specific needs. Cooperation and open communication keeps you in control and allows you to take advantage of having extra team members.
How Advent Can Help
The utilization review process uncovers opportunities to improve organizational management, eliminate oversight, and create systemic approaches to ensure maximum revenue recovery. We know that staffing, especially for front-end positions, is increasingly difficult, as is finding the right people with the right experience.
At Advent, we understand that having the right people in the right positions is crucial to the health of your revenue integrity cycle. Advent breaks down our utilization review process into three categories: prior authorization management, concurrent reviews, and pre-bill reviews so that you can select the appropriate care settings for your organization.
To discover how Advent Health Partners can increase financial recoveries and operational insights for your hospitals or health system, please connect via the button below.