Importance of Staff Retention Metrics in Your Revenue Cycle Department

The Importance of Staff Retention Metrics in Your Revenue Cycle Department

Nicola Hawkinson DNP, RN

CEO & Founder of SpineSearch

March 7, 2016

AAPC Morristown, NJ

Recruitment and retention are important for business, but not all

companies know how to begin and complete the process

Outlining Your Hiring Process

1) Identify the vacancy/need2) Job advertisement and recruitment3) Identifying qualified candidates 4) Interviewing 5) Follow-up6) Extending an offer7) Onboarding

1. Identify the Vacancy / Need

Why is there a need?New Hire

ExpansionIncreased volumeNew practitioner

ReplacementReason for turnoverReview of retention metrix


Treat the hiring process as a key business practice

Have a planHave a timelineReach your goal


What position do you need to fill?TitleReport toJob DescriptionCompensation package


The Job DescriptionTitleReport toScope of practiceResponsibilitiesHours

Good Practice Tips

When you are preparing a job description avoid jargon, abbreviations or acronyms, which can only be

understood by 'people in the know'. Choose the wording carefully so that you do not discriminate

against candidates unnecessarily. Rememberdiscrimination can be direct or sometimes unintentional

and more difficult to spot.Obtain specimen job descriptions from

similar groups or samples from professionalbodies to compare.

1. Identify The Vacancy / Need

Job Description NO No’s“We Don’t Have One”“Can You Just Make One For Me”“Tell Them We’ll Speak To Them When We Get Here”


The Compensation Package: Pay

Consideration should be given to payFactors: market rates, skills, years of experienceSupply and demand


The Compensation Package: Benefits

Can determine the full remuneration packageEmployees are not only motivated by money

Factors such as health care benefits, 401k, and flex hours

The Compensation package need to be accurate and reflect what the employer can actually afford


What type of candidate do you need?Pro’s and Con of the Prior Employee

Think about the qualities of the person who last held the prior

Company CulturePersonality type, interests, geographical barriers

Key AttributesLoyal, hard working, flexible

1. Identify The Need / Vacancy

How do you find a person to fill the job?Internal Candidates

Don’t forget your current employeesProvide opportunity for inter-company advancementRetention, culture

External CandidatesAdvertisementLocal universitiesSocial mediaPartnership with a recruitment firm

2. Job Advertisement and Recruitment

How to Search

Have well-defined strategy Ensure you have the budget / salary lineDetermine the timeline for recruitment Determine your ability to set aside time to recruit / interview as well as time from all others involved in the interview and decision making process

How to Search

Defining the selection processWhat methods will you utilize to searchWhat total number of candidates do you seek to interview before making a selectionHow will you organize the screening and interviewingCriteria for selection

An employee who is the best fit for your position


Attend live events to meet candidates Create innovative ways to announce job opportunities - AdvertiseJob fairsSocial Media

Web PageFacebookTwitter


Build a steady stream of applicantsInterview in groups of 3-5 depending

Set aside 2-3 hours for interviewsApproximately 30 minutes each

Allow time to discuss, score and summarizeTake notes, document so as not to forget


Do• Try new approaches• Think about cost• Seek advice


Don'tRepeat an old advertisement unless it workedAssume who is right for the jobDiscriminateCopy similar organizations - be different!Be afraid to ask for advice

3. Identifying Qualified Candidates

Achieving strong financial results in today’s reimbursement environment requires greater consistencyThe largest source of already standardized data on patient health history often resides in your revenue cycle management (RCM) record


Resume reviewClean sharp, without grammatical errorsResume paper, crisp not folded or wrinkledAppropriate objective summary / cover letter

How does the candidate represent themselves online? Over the phone? E-mail, In-person?

ProfessionalismLanguage


Resume reviewFor most of you – you will utilize the resume to decide who will be selected for a live interview again

Clearly writtenChronological orderFresh presentationDoes experience reflect the qualifications you are in search of

3. Identifying Qualified CandidatesEmail

Written professionallyClearly stated subject – reason for search

CallSpeaks professionallyLanguage is clear

SkypeDressed ProfessionallyEye contact / enthusiasmWithout distraction


Matching Resume with Job DescriptionEnsure skillset

Do not be distracted by personality compatibilityBe specific

4. Candidate Selection and Interviewing

Know What You Are Looking For

Have a detailed job description in place so you know the type of candidate you are looking forReview resumes carefully

Short time at jobsGaps in employmentReason for job turnoverUnable to answer questions about previous job responsibilities


Time Kills ALL DEALSApplicants should be promptly acknowledgedThey can be considering multiple

Opportunities


Resume reviewCandidate selection for interview

Date, time, locationPractice websiteWho will attendSpecial testing (typing, billing, pivot tables)Personality testingTrial or shadowing daysPlan for a second interview- follow up

4. InterviewingUsually Poorly Planned, Rushed and UnstructuredSome Prep Tips:

Alert the reception area you have a visitor comingEnsure the interview room is private, and not clutteredDo not accept calls, NO TEXTINGHave all documents prepared

JD, Resume, questions and paper for notes

4. Interviewing

80/20 RuleCandidates should do most of the talkingAllow time to answer questionsAllow time for them to formulate questions to youConclude by outlining next steps and follow up

Exchange contact information if you choose

4. Interviewing

Ask the right questionsDon’t overlook small things, they could turn into bigger issuesIf their job experience does not match what you are looking for don’t ignore itTake notesUtilize a grading metrixSpeak to decision makers


Selection ProcessThe selection process should be just as thorough as the recruitment processDoes the candidate meet the expectations and fulfill the job requirements you have in place?Does the candidate’s experience match the qualifications you are looking for?Does the candidate seem like a good fit? Will their personality be a good match with other employees?


Choose a “Reserve Candidate”Second choiceConsider if first choice does not acceptOr, if references and background are unsatisfactory

A reserve candidate will saveyou from having to go through the process

again, and may, in some cases, provide youwith a possible candidate for another position

5. Follow-up

A big lapse in time between interview and follow-up could cause you to loose candidatesAct in a timely mannerOrganize- After the interview you should review your notes and contact the candidate within 24 hours about next steps

5. Follow Up

Design a 'points system' to measure howcandidates meet your criteria.For example

3 = exceeds criteria2 = meets criteria1 = partly meets criteria0 = doesn't meet criteria

5. Follow Up

References and Background

Design reference questions that are tailored specifically to your business/practiceContact 3-5 referencesPay attention to how the reference talk about the candidate Spend as much time on call with them as possible

You must receive permission from the candidate to call upon his/her references

5. Follow Up

References and Background

Checks should be made regarding the following:• Eligibility to work in the US• Previous employment and character references• Criminal Records Bureau checks• Health screening/questionnaire• Qualifications

5. Follow Up References and Background

The real importance of references is that theyhelp you to spot the very small number of jobapplicants who give misleading informationabout their past, or are giving false information.

Hire Slow….Fire Fast

6. Making a Contingency Offer

When you feel you have successfully recruited, interviewed, and selected a candidate you are ready to extend a job offer

Offer contingent on references and background checkDon’t disengage from the hiring process; Stay involved.

Candidates can be simultaneously receiving multiple offersCandidates may have questions regarding compensation


The Offer Letter

The principal statement must include:The legal and trading names of the employerThe name of the employee

• The address of the employee’s place of work• Job title or a brief description of the work• The date when the employment began


The Offer Letter

May also includePay, and intervals of PayHoursBenefitsGuidelines for resignation / termination

Many states will include employment at will

7. Onboarding Process

Day 1Have the new employee arrive with a plan from you

When and where to arriveWho to report toAn idea of the day’s agenda

The candidate should see that there was thought an planning implemented to onboard successfully

7. Onboarding ProcessGood Practice TipTaylor induction to the individualIdentify a mentor or 'buddy', who can be used tosupport, advise, motivate and encourageA good mentor will view the staff member objectively and give constructive feedback along with general guidance.

7. Onboarding Process

Candidate-Centric Approach

Create a culture where the best employees want to work.Engaging work environment Set a date for 90 day reviewFollow Up / check in

Employee Engagement

Give meaningful feedback Define clear goals and link to organizational goalsRecognize and RewardGive them the tools and resources they need

Employee Engagement

Employee evaluationsMentorship programProfessional and career development opportunities

Team Approach

Executives that lead an initiative for revenue integrity by leveraging a team approach can more readily gather the key performance indicators needed to assess performance on the established standards. Recognizing achievements in relation to the standards serve to spur further advancement.

Team Approach

Organizations aligned for revenue integrity are more easily able to address the gaps that inevitably exist between systems and processes. This is because the initiative provides greater insight into all parts of an organization, including its silos.

Team Approach

The need for this type of clarity and increased transparency is greater today in order that the revenue integrity team can prevent the revenue leakage and compliance risk occurring in these gaps.

And Finally…to Staff RetentionYou need to ensure that after appointing the

correct person for the job you hold ontothem!• Staff retention will only happen when youhave all your management policies right.• Educating staff about what is required in order to

remain current with ongoing changes to regulations and the requirements for sufficient documentation.

And Finally…to Staff Retention

CommunicationMotivationMentoring / SupportFormalized Review ProcessStaff QuestionnairesPersonal Development Profiles

Once the revenue integrity team is established, see that they have easy access to information that answers questions on payer requirements, which can change quickly.

Conclusion

Conclusion

Recruit smartIdentify a strategic recruitment planBe proactive, not reactiveFollow through with your process and be timely

Conclusion

Know what you are looking forTake the interview process seriouslyRespond to candidates in a timely mannerPay attention to red flags

Conclusion

Use references and background check as an aide during the selection processPlan out the new employees first week prior to the start dateBe as organized as possible

Refine and revise your process with each new hire

Questions?

Thank You!

Nicola Hawkinson, DNP, RNSpineSearch

www.Spine-Search.com1.516.333.5050

http://www.spine-search.com/

Healthcare

Importance of Staff Retention Metrics in Your Revenue Cycle Department