Skip to main content

Navigating Revenue Challenges in Healthcare with Limited Resources: A Comprehensive Guide

August 2, 2023

Healthcare facilities of all types and sizes have long faced staffing challenges and posed questions about staff retention and efficiency. The industry’s recent challenges, including the pandemic, the Great Resignation, and staff burnout, have further exacerbated the issue. Staffing roles in the revenue cycle can be particularly challenging due to high stress, long hours, and burnout.

The Great Resignation has affected healthcare significantly, with higher resignation rates than in previous years. Coupled with the US workforce’s lackluster engagement rate, the industry faces ever-evolving revenue issues. 

Let’s explore strategies to navigate these revenue challenges in healthcare and how to address them, even with limited resources.

The Impact of the Great Resignation on Healthcare

The Great Resignation, a trend of employees leaving their jobs en masse, has affected multiple industries, including healthcare. The pandemic played a role in accelerating this trend, leading many to reevaluate their work-life balance and search for better opportunities. Healthcare employees are also leaving their jobs due to reasons beyond the Great Resignation, such as the federal vaccine mandate, dissatisfaction with career growth, and excessive job demands, leading to increased turnover in the industry.

coronis health medical billers going over document

Challenges in Revenue Cycle Staffing

Determining appropriate staffing levels for healthcare revenue cycle departments can be challenging. The reactive approach to hiring, based on demand, often leads to staffing shortages during busy periods and overstaffing during slower periods. This dynamic negatively impacts employee morale and the quality of patient experiences.

Lack of Insight into Productivity and Time-Per-Task

Revenue cycle leaders often struggle to track productivity and time-per-task metrics accurately. Incomplete or inaccurate data hinders proper staffing decisions and makes it harder to justify additional resources when needed.

Increasing Revenue Cycle Complexity

The healthcare revenue cycle has become more complex over the years, particularly in regulations surrounding the industry, leading to challenges in obtaining approvals for medical services and medications. This complexity can result in longer processing times, increased claims denials, and ultimately, a negative impact on patient experiences.

Strategies to Address Revenue Challenges

Taking a few steps to streamline processes, boost staff morale, and offer high-quality training can help prevent revenue leakage and strengthen your facility’s bottom line. 

Engage Your Staff

Prioritize employee engagement by creating a positive work culture, offering competitive wages and benefits, and providing opportunities for growth and upskilling. Empower your team to work at the top of their skill set and focus on their strengths.

coronis health medical worker filling out chart on clipboard during a meeting about medical billing

Deliver the Best Training Possible

Invest in ongoing training programs that improve job performance and encourage staff to seek continuing education. Utilize digital learning methods and involve experienced staff in the training process to foster a sense of community that minimizes employee turnover.

Build an Equitable Revenue Cycle Department

Ensure equitable pay, flexible time-off policies, and a diverse work environment. Consider recruiting from healthcare administration programs.

Think of Automation as Another Team Member

Integrate AI-based automation to streamline workflows and reduce manual tasks. Choose automation solutions that can adapt to change and provide reliable performance.

Invest in Robotic Process Automation (RPA)

RPA streamlines processes and drives cost savings by efficiently handling repetitive tasks and adapting to changes seamlessly.

Addressing revenue challenges in healthcare with limited resources requires a dynamic approach that involves engaging and empowering staff, providing effective training, and incorporating AI-based automation solutions. By emphasizing staff well-being and making strategic technological investments, healthcare facilities can effectively navigate these challenges and enhance the overall patient experience, even in resource-constrained environments.

Contact Coronis Health to learn how we can help your facility navigate revenue challenges.

Get the Latest RCM News Delivered

Receive practical tips on medical billing and breaking news on RCM in your inbox.

Get in Touch