People Management

People skills for Revenue Cycle Management

Understanding of technology skills

Technology is vital in the hospital revenue cycle. Today and tomorrow’s executives need a deep understanding of how to use it. From organizing codes to admitting patients, EHRs and EMRs will be increasingly necessary to streamline the billings and collections process.

That understanding includes revenue cycle leaders playing a critical role in patient registration and patient and staff education. “From a revenue cycle perspective, getting the most accurate information upfront starts with patient scheduling and patient registration that provides the groundwork by which claims can be billed and collected in the most efficient and effective manner possible. As the transition to value-based care continues, health systems are tasked with reporting on measures such as patient satisfaction, quality of care, and cost of care. But there’s a problem if staff don’t understand the intricacies of this transition. “Internally, all healthcare facilities should have an education component.

Capability to see the big picture

As the role of revenue cycle leaders expands, the need to coordinate with hospital operations across multiple levels does with it. Team members will need to go beyond collections to process the importance of innovations throughout the system. Working together with other departments, these leaders will need to improve integration across managed care and insurance contracting to see how IT innovation will impact changes.

What does this mean? Revenue cycle leaders will not only need to understand the billing and collections process but also understand additional segments. These include contract payment and coding accuracy to avoid claim denials. It’s much more of a big picture position than it’s been in the past.

Ability to build connections

All hospitals and billing systems will run into issues of segmentation and not making the necessary connections throughout systems. However, it’s now more important than ever that revenue cycle executives can build bridges and collaborate across multiple areas. It’s crucial to their success that they leverage their influence to extend into key places including building relationships with clients, understanding how their leadership styles impact the organization and the team.

Capacity to educate and mentor

Revenue cycle managers frequently must educate and guide others, particularly regarding standard practices and hospital regulations. Each teachable moment is another opportunity to bridge interdepartmental relationships and to foster better communication at all levels. It takes patience to get new team members or even seasoned veterans up to speed on new information. Instead of viewing these as obstacles, revenue cycle leaders should embrace these opportunities to connect with coworkers on the importance of what it is they do.

Resourcefulness to provide what we expect from great leaders

Along with the particular people skills above, revenue cycle management leaders also need the traditional leadership skills.

The bottom line

Revenue cycle management plays an incredibly integrative role in healthcare. They must navigate between healthcare staff, administration, patients, insurers, and many others to deliver the solutions needed for the long-term viability of their hospital and billing systems.

We’re here to empower you

At Wave Online, our goal is simple: to help healthcare professionals and organizations move past their limitations, empower them to create change, and make more success achievable. That’s the promise we make to our clients and our consultants.