Many patient access staff members have likely noticed that the skill requirements of their positions have started to change in recent years, as more and more revenue cycle processes traditionally associated with the business office begin to move further upstream in the revenue cycle. Processes such as insurance verification, collections, and financial assistance screening, for example, have moved into the province of patient access largely as a result of the changing nature of the healthcare landscape due to the increase in insured patients’ out-of-pocket financial obligations, consumer-driven health care, the continued growth in the uninsured and underinsured populations, and more. Since these vital revenue cycle processes are becoming an integral part of patient access, the skill and knowledge demands of patient access staff members are causing many providers to re-evaluate the compensation packages for their patient access staff in order to effectively recruit and retain qualified staff.
Typically, compensation for staff members comprises as much as half of providers’ operating expenses. Therefore, compensation levels for staff must be carefully structured in order for providers to balance the many financial demands of running a hospital. Paying staff members below fair market value can seriously affect retention rates and staff member morale, which can lead to higher costs for providers in the long term due to recruitment costs, losses in productivity, and increased training expenses. Conversely, paying staff members too much can also negatively affect providers’ financial health.
At Bronson Methodist Hospital located in Kalamazoo, Michigan, leaders decided to re-evaluate its compensation levels for the facility’s patient access staff members. Bronson Methodist’s leaders did not compare their compensation for patient access staff to other facilities, since most facilities still do not pay front-end staff members similar or higher rates than back-end staff. Instead, Bronson Methodist’s leaders worked closely with their Human Resources department, as well as with an outside consulting firm, to create an internal benchmark of patient access staff compensation levels. Utilizing this data, as well as compensation levels for back-end billing staff members, Bronson Methodist adjusted the compensation package for patient access staff to be higher than billing staff members.
By increasing the compensation for patient access staff, Bronson Methodist was able to realize several positive benefits. Adjusting the compensation level of its patient access staff significantly reduced turnover rates in patient access and increased accuracy rates, since staff members were more engaged with their tasks and gained more experience. In addition, Bronson Methodist Hospital received the prestigious Malcolm Baldrige National Quality Award in 2005, due in part to the low staff turnover throughout the organization, which was only 5.6 percent.
With the increasing emphasis on verifying patients’ insurance before service, as well as identifying uninsured patients as early as possible and collecting patients’ out-of-pocket financial obligations at or prior to point of service, having highly-skilled, knowledgeable, and experienced patient access staff members is essential for this department to effectively and efficiently conduct these vital revenue cycle processes, while also maintaining a focus on patient satisfaction. Revenue cycle leaders should consider re-evaluating the compensation levels of their patient access staff on a regular (e.g., annual) basis, focusing on appropriately matching staff members’ pay to the skill demands of their position.
The Academy of Healthcare Revenue
The Academy of Healthcare Revenue is a membership-based community that provides healthcare leaders with objective research focused specifically on the healthcare revenue cycle. Members receive an unlimited supply of all research--including benchmarking and best practice reports, implementation tools, monthly journals, attendance to virtual conferences, and more--designed to enable them to improve their revenue cycle processes and financial health from within. Furthermore, The Academy's membership offering is tailored to team members throughout the revenue cycle, from executive leadership to patient access, coding, billing and collections, and clinical staff, helping to drive process improvement efforts revenue cycle-wide. Patient Access Monthly is one of four journals written by The Academy of Healthcare Revenue monthly.
To learn more about the benefits of membership with The Academy of Healthcare Revenue, contact us today.
Media Contact Ross Monaghan
Manager, Strategic Marketing
262-782-7935
Email:
