Turnover. At a time when each day is brimming with uncertainty, knowing that your staff is secure and prepared to take on the inevitable curveballs this industry throws your way is a huge relief. Fortunately, while experiencing turnover is inevitable, it can be curbed.
Naturally, there will be external situations outside of both your and your employee’s control which lead to an employee’s decision to leave, but what happens when the issues are internally focused? According to Work Institute’s 2018 Retention Report, 77% of the time the employee could have been retained. Significant factors that may influence an employee’s decision to leave can include a negative or toxic work environment, poor leadership, an insufficient benefits package, onboarding, and more.
For example, these factors can show up as a communication breakdown between leadership and their teams, fueling an unhealthy work environment and stunting the growth of your company. Providing open communication pathways through periodic one-on-ones and monthly team meetings allows employees the chance to offer suggestions that may improve processes they use every day and stay on track to meet management goals and expectations. Not only will the Employees feel heard, they will also feel more invested in their company. Improving morale directly correlates with improved production.
Unfortunately, not all internal issues have easy fixes. Benefits packages may not allow for wiggle room, especially for smaller practices, and onboarding can be a lengthy process to change. In such situations, making the decision to outsource could greatly reduce the stressors of turnover. Outsourcing means you no longer have to stress over a contingency plan when employees take vacation or sick leave. Working with another company to help cover staff greatly reduces the hiccup in revenue, felt when someone leaves for any period of time.
Recently we had a client in Vegas feel the stress of employee turnover. In one month, there were administration changes - a front desk staff member and the sole insurance verification employee both gave their two-weeks’ notice. This is a busy 1,400-case center booked months in advance trying to keep the ship afloat with skeleton staff. We were already doing their billing and were able to help pick up this extra work until they decided to either replace or turn over more of the work to us permanently. Understanding the importance of teamwork and open communication is what continues to drive our clients to successful outcomes regardless of barriers.
A necessary aspect of any successful medical practice is their billing department. Outsourcing your billing with in2itive would mean a full, knowledgeable staff with years of experience at your fingertips and you can forget those concerns about benefits packages and onboarding. When working with in2itive you feel no gap when the employee leaves, creating a smooth transition in workload and revenue. When billers turn over, staff and new hires are left in the dark to decipher someone else’s notes, which is not always easy! That is why we have a fully dedicated staff to avoid this issue and evade putting additional pressure on the rest of the staff to keep revenue coming in on top of their other job duties. In fact, shifting to outsourcing with in2itive could increase your company’s savings. Tune into the next post to discover the true financial benefit of placing your billing needs in in2itive’s hands!
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