Articles

4 Tips to Attract and Retain Revenue Cycle Staff

Oct 27, 2022

Right person, right place

The right people in the right positions can make all the difference when it comes to creating a positive client and patient experience but also when it comes to internal culture. Attracting and retaining those top-notch employees is a challenge in this changing workforce.

Unemployment is high but steadily dropping due to the waning pandemic. In the 2022 post-COVID era, employers and employees have changed the way they view each other in the workforce. We have witnessed double-digit percentages in wage growth for entry-level positions.

We have more open positions now and find it tougher to get qualified employees. Demands have changed from employees who have experienced working from home and found a new level of work/life balance.

The staffing shortage is having a residual effect on employees who take on an increased workload causing burnout. Leaders are scrambling to find employees to fill positions and get them onboarded.

Mental health issues have risen among employees forcing some to leave the workforce to focus on their health.

Even employers with remote workers are needing to reach out to help provide support for employees who are lonely and facing depression/anxiety.

In healthcare, burnout is palpable from overworked and tired clinical staff trying to maintain a physical presence to support and help those in the community who need care.

Add to it the generational shift. Baby Boomers are retiring (some earlier than expected due to COVID) and the Millennial workforce continues to grow. Add to that the ushering in of Gen Z and the landscape of hiring and retaining employees begins to shift.

4 reasons for employee turnover

So, what are the potential reasons for staff and employee turnover?

  1. Employees leave for other/better opportunities: Employees might be looking out for other opportunities to they believe will further their careers.
  2. Employees become unhappy with their current employer/position:  Potentially due to lack of engagement or lack of growth opportunities, not feeling as if they are part of something bigger, or feeling like they don’t have any power over how they do their job
  3. Daycare is hard to find:  Daycare providers cannot find qualified caregivers, and working parents are now unable to afford to go back to work full-time and/or find care for their children so they are forced to look for flexibility in their work allowing them to be at home with their children
  4. Personal health reasons: An increase in employee care for a family member, (either in or out of State) or personal health reasons.

 

The facts speak for themselves.

We have a tired workforce, burned out and seeking flexibility. They are suffering fatigue in every way. The workforce is restless and seeking a way to support themselves and their families in a way that keeps them safe while feeding the need to do a job that is rewarding and impacts the greater good. Employees are willing to start at the bottom but want a quick path to grow in both income and responsibility. This is a byproduct of the generational shift from Millennial and Gen Z employees entering the workforce.

That leaves employers in a position to act and ensure they have appropriate strategies to attract and retain qualified staff. Save both time and money by instead looking to retain those high-quality employees.

4 tips to attract and retain employees

  1. Highlight the value of their role:  Paint a bigger picture as people want to know that they contribute to the greater good. A quick example: instead of saying “I’m a biller” they can share – “I ensure that healthcare providers can serve the community by submitting accurate claims to payers.”
  2. Provide flexibility: Be flexible about where and when employees can work. Can you provide flex-time options for revenue cycle employees? Some need to work 9-5 but could you perhaps set up a shift from 5-9 p.m. and another from 6-10 a.m.? We are considering using part-time employees to help us with full-time positions. What do your employees desire as far as flexibility goes? Can they work remotely?
  3. Look for additional benefits: Work with employees to create a more well-rounded compensation and benefits package. Gone are the days when medical insurance and a 401k were enough. Employees want to see Child Care, Mental Health assistance, and personal development stipends to name a few, as part of a more inclusive benefits package.
  4. Appeal to the next generation: The younger generation is more culturally aware. They value diversity in many areas and want a position that enhances the greater good. Additionally, most millennials are out of school currently or graduating and are seeking positions that allow them to grow in responsibility and income more quickly. Define a growth path within your organization that resonates with this next generation.

 

When combined these tips can help your organization define a culture based on the needs of your employees—facilitating a more fulfilling sense of self that will allow you to hire and retain more high-quality employees.

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Karie Bostwick

VP of People and Compliance

As VP of People and Compliance at Revenue Enterprises, Karie Bostwick oversees People functions including recruiting, training, onboarding, engagement and satisfaction. Additionally, she is responsible for compliance training, oversight and monitoring.

Karie has a long history of working in the revenue cycle support industry. Her skills span leadership, operations start up, policies and procedures development, operations workflow, budgeting and client management.

She is passionate about the experience of our people, patients and the Healthcare clients we serve and believes that a team of diverse, talented and motivated individuals working together toward a common goal can make a difference.

Robert Sterett

VP of Information Technology

As a transformational leader Robert Sterrett has leveraged his 20 years of experience to build effective service lines and exceptional teams. In his role as VP of Information Technology at Revenue Enterprises, Robert excels at taking a unique, balanced, and strategic approach to technology leadership with people first for the best possible outcome. Using his experience from engineering, project management and service line management he takes a multi-faceted approach to ensure the right people are in the correct position coupled with the best technology to meet or exceed all expectations from security to compliance and business continuity.

Robert’s leadership style lends itself to building long term relationships and has consistently been a relied upon strength in many organizations. Over Robert’s time as an IT operational and project leader, he has spent significant time in both hands-on technology facing roles and client centric management roles to bring the best solutions that strive to meet the business and client needs.

Focusing heavily on his personal development skills and opportunities, Robert continues to foster coaching and mentorship relationships everywhere in his life, and the lives around him.

Douglas Dunbar

VP of Sales & Marketing

As VP of Sales and Marketing for Revenue Enterprises, Douglas Dunbar leads with a passion for building strategic partnerships, nurturing relationships, and upholding customer service excellence. In his role, Doug focuses on marketing and brand strategy, sales team leadership, and working closely with members of the management team to best serve company goals.

Doug has over 28 years of National sales and marketing call/contact center leadership, with 10 years of service specifically at Revenue Enterprises. Currently, Doug serves as part of Wyoming HFMA Chapter leadership and has held various roles in Colorado HFMA Chapter leadership for over 9 years.

In his spare time, Doug is very family oriented. Additionally, he loves traveling, cycling, golfing, fishing, hunting, and boating.

Kris Brumley, MBA

SVP/COO

As SVP/COO of Revenue Enterprises, Kris Brumley is a collaborative partner within the executive team and a leader for operational functions across the organization. Kris productively shares vision, drives innovation, and supports those around her in a way that elevates them and fosters continuous improvement and results. She has helped create a supportive environment for clients resulting in 98% client retention and a 65% NPS score for all clients and 75% for top clients by revenue.

Kris possesses an MBA in data analytics and has twenty-five years of experience in the healthcare industry, with 19 specifically in revenue cycle. She brings a wealth of customer service experience to her role and has worn many hats at Revenue Enterprises including Director of Business Development, EBO Division Director, and VP of Client Experience Management.

In her personal life, Kris is as busy outside of work as inside. She values spending time with her family, and enjoys fishing, hiking, traveling and interior decorating and design.

Timothy (Tim) Brainerd

CEO

As CEO of Revenue Enterprises for almost 20 years, Tim Brainerd leads by example. He promotes a shared vision and stewards a culture of Integrity, Passion, and Respect. He has assembled and empowered high-performing talent and teams to support customers, facilitate strategic planning and manage the capital of the company. Under his leadership, Revenue Enterprises has doubled in size three times over the past fifteen years while maintaining a culture of caring and gratefulness.

Tim has close to four decades of revenue cycle experience, including nineteen years with RSI
Enterprises. He has been a past president of Colorado Chapter of the HFMA and a presenting speaker on the topic of Leadership. He is a fifteen-year member of Vistage International, the world’s largest CEO coaching and peer advisory organization for small and midsize business leaders.

Raised in the Midwest, Tim values humble principles like being respectful, caring, passionate, self-reliant, and most importantly grateful. His most important lesson and the lesson he hopes to pass on in all relationships is living the Golden Rule–do unto others as you would have them do unto you. He is intentional in his choices and believes in making decisions, taking action, being accountable, and loving your neighbors.

Whenever possible, Tim spends his time with his wife of nearly forty years, his adult children, and his grandchildren. His hobbies include fishing, golfing, traveling as well as game nights and sharing great food with his family.