Looking in the mirror is the best thing leaders can do to improve revenue cycle management
As a healthcare leader, revenue cycle management can be an area that keeps you up at night. Thinking about money is incredibly stressful, especially if your organization is struggling to cover critical expenses or salaries. You might be considering some desperate moves, like outsourcing, layoffs or reducing services, to keep your organization competing with the best.
But with rapid changes being driven by regulations and reforms around the world, the relief your organization will get from those options is unlikely to last. You need sustainable, long-term changes to your revenue cycle management that will help your organization become nimbler and more resilient as reimbursement models shift and change. Yet the first step toward lasting change is not to evaluate employees, technology or partners—the first step is to evaluate yourself.
Create the environment for change
Simpler® Consulting always focuses on leaders first when their experts start working with new clients. Even if you’re facing tight regulations or factors beyond your control, your influence and actions have a lot of impact. So any robust change to your organization must start with a deep evaluation of your thinking and approach to business.
The coaches at Simpler understand the bravery it takes for leaders to look in the mirror, so one of the first steps they take is to provide tailored coaching sessions for leaders. Those sessions help leaders identify changes they can make to their own routines using the Simpler Business System®. After all, it’s not the leader’s role to go in and fix everything. It’s the leader’s role to create a culture of change based on continuous improvement, teamwork, respect and problem solving.
Based on principles of lean thinking, this system has been used by healthcare organizations for more than a decade to produce lasting improvements in revenue cycle processes. One mid-sized health system had 100% of their team members involved in lean improvements, which resulted in a 45% reduction in employee turnover and 18% of team members were redeployed to work on improved processes.
Critically examining prior decisions that were stressful or unsuccessful is a difficult process, but as a leader, you have the power to decide which is worse – going through the temporary discomfort of self-reflection or enduring the constant stress and worry of a dysfunctional revenue cycle. Consider how nice it would be to attend financial meetings with no surprises or to do more than move from one short-term crisis to the next. Think about the impact you would have on your community if you had more time for long-term goals that enhance the quality of your services.
Become a courageous leader.