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Five Steps to Maximize Your Team

Congratulations! You hired a great biller. You’ve trained them and the end result of their work is to collect every dollar earned. Sounds pretty simple, right? In fact, a top notch biller’s goal is to fight for every last dollar as fast as possible and with the smallest amount of effort and denials. It’s not easy, but it has straightforward expectations.

What is RCM?

The industry term for this process is known as Revenue Cycle Management – or RCM.

I would like to propose a different view of Revenue Cycle Management. One that includes a more holistic approach to your business rather than the typical, siloed approach, that many businesses take.

What is the new RCM?

A true revenue cycle starts the moment a patient calls your office or a referral is received. The end of the cycle is when a patient discharges and money is collected for care. In between these two events lies your opportunity for a new revenue cycle management.

Before I go into the how it’s important that you have one assigned member of the team own this process. Teaching them to be a coach for the entire team will help course correct and spur more growth.

Follow these five steps below to help maximize your team and advance your RCM.

  1. Understand the metrics.
    In order to leverage data about metrics, you need to have a clear picture around the objective of the measurement. Reconnect and re-evaluate the reasons you want to measure a certain aspect of your business in the first place. It is also important to ensure that you are tracking accurately. Remember, the data has no value if it isn’t correct or isn’t of any help to you. This seems obvious, but it’s important to keep in mind.
  2. Assign Metrics.
    Ensure a sense of ownership with each individual and department so they have responsibility over specific metrics. For example, your front desk is responsible for the cancellation rate, so what should they do when patients are falling off the schedule? Your front desk can reach out to patients regarding their objections and identify why they canceled in the first place. They can also speak with the therapists about reinforcing the importance of the treatment plan during the patient’s next visit.
  3. Inspect problems.
    Don’t make it personal. If you assume it’s a people problem, instead of a process problem, you are at risk of making your staff defensive.  You’ll spend your time listening to explanations rather than creative solutions. Empower your staff to help solve the problem together. This helps everyone take ownership of their metrics and allows them to grow with the business. Once you and your team have an understanding around the problem, the solution tends to be self-evident.
  4. Improve the metric.
    Often times, the solution tends to be around a process or policy. These solutions most often include a conversation between staff or patients.

    • Identify what policies need to be created or reinforced to correct the issue.
    • Help staff and patients understand why the process or policy has changed.
    • Develop handles for common objection.

    Creating or enforcing policy allows you to improve metrics and develop handles for common objections. So let’s back up for a second… you read “Billing is going away” and now you’re thinking, what will your billing staff do if you free them up from the manual work?

  5. Imagine This
    Your “biller” is helping to leveraging the metrics to understand the roadblock causing certain areas to suffer. They are managing each part of the revenue cycle with the formula laid out above and they’re working with the front desk to ensure they have the right training and policies in place to achieve their goals. The therapists have a coach to give feedback and provide resources to help maximize their billing charges, speed documentation and get patients to complete care.

Think it’s too ambiguous?

Not for Vangie Field of Momentum PT, former biller/now practice manager. It’s a scary thing to move into the unknown. After speaking with Vangie the other day she said that she went from being really busy and feeling at capacity to becoming hyper focused on the things that really matter. She never lost control of the revenue cycle management – rather, she gained more control. Transparency via reporting gave her the ability to manage with confidence and no longer does she just have a job; this transition has given her the ability to build a career while changing lives.

Want to learn more about how to make the leap? Check out our Empower Unplugged in the coming weeks, which will dive deeper into the subject, or reach out to our consultants for a more specific conversation on how you can make the leap with your team.

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