Labor is the Question of the Decade…and the Answer Is Culture

Providers have been faced with an onslaught of fires and blaring alarms over the last few years, making it easy for revenue cycle leaders to run from emergency to emergency, solving problems. 

But the habits picked up since the pandemic won’t be useful in the long run. 

This is because revenue cycle’s biggest issue, labor, is positioned to be the challenge of the decade. But there is a root cause solution answer that can guide leadership through the myriad challenges that promise to dominate the healthcare revenue cycle conversation over the coming decade. 

That solution is culture. Culture can help you create a positive employee experience that attracts and retains talent, even in the midst of a labor shortage. It will help guide your staffing decisions as the “silver tsunami” of Baby Boomer retirees begins to crash down. It will help you have the productive and supportive conversations that will help you best navigate vacancies and leaves of absence as your revenue cycle staff deals with burnout and the results of an ongoing pandemic. 

“Culture” might sound vague, but it’s something you can put a pin in by looking at elements like:

• Your shared purpose and values
• Your practices, processes, and procedures
• Revenue cycle staff feedback
• The employee experience and HR strategy
• How you use technology (such as healthcare revenue cycle management solutions) to measure and support your goals

Cultural change can be a big lift – but the best part is that you can start at any point in time by taking an objective look at what you’re doing and envisioning a better future. This type of vision is what will set effective revenue cycle leadership and healthcare revenue cycle management companies apart from the rest and help you continue to support your organization and care community well into the coming decade.