It’s easy to get wrapped up in trying to solve problems that will have little impact. Put too much focus on the things that will not give you an effective outcome. Spend too much time in areas that keep you from moving towards your goals.
4 areas you should make the time for as a Medical Billing Industry Leader.
Personal Growth
YES, It’s okay to put yourself first.
It’s important to take the time for ourselves to be better for our Patients, Providers, and our Team.
This will allow the space that is needed to:
Enhance your knowledge
Build your skills
Keep up with the latest in the ever-changing industry of Healthcare
Work on your strengths and weaknesses
Feed your spirit
Continued education and training are the keys to developing your leadership skills so you can reach your full potential.
Key Performance Indicators
Do you know your KPIs?
Receivables outstanding over 90 days
Net & Gross collection rate
Denial rate
Clean claim ratio
Contractual Variance
These are just a few of many that I use in my billing company that help me lead a successful billing team.
I’m a believer in micromanaging numbers, not people.
KPIs measure the success of a company as a whole, but also measures the health of your medical billing team by providing the metrics you need to:
Help gauge the performance of your team
Target the areas that need the most attention
Enhance your credibility by providing the facts
Set realistic team goals
and so much more.
Creating Systems
I’m sure you have systems already in place to:
Bill clean claims within 24-48hrs
Fix clearinghouse rejections daily
Rework denied claims daily
Work A/R timely
As a Billing Manager for years, I had these things down to a science, but it still was not enough.
Once I started creating systems that helped with:
Organization
Time Management
Productivity
I then realized that piece that was missing from medical billing teams.
Last and certainly not least.
Lead, Coach, and Manage.
The very thing you learn on your road to personal growth, the KPIs you use, and systems you create will be the very thing that help you lead, coach, and manage your team to reach their full potential.
So, what’s keeping you from making the time to lead?