Determining When to Promote in Healthcare Finance and Billing
March 26, 2019
While some shining employees make the decision of when to promote in healthcare finance and billing departments easy, other factors like revenue, budget and employee tenure can complicate things. Managers should never create a work environment where promotions are considered routine and warranted simply by showing up on time. Instead, the best managers are actively observing their employees for key signs that they are ready for a step up in pay and responsibility. Here are some of our best tips for determining when to promote in healthcare.
The best employees to hire and hold onto are typically self-starters, particularly in the healthcare field. Hospitals and medical practices are such busy places that they benefit from having employees who are looking for ways to jump in and help out, not sitting around waiting to be told what to do. The people who are best suited for a promotion should be adept at finding ways to work smarter and make a bigger impact.
Consider the Numbers
Numbers matter when determining the right time to promote in healthcare, regardless of which department you are looking at. The employees worth promoting and retaining are those who have a demonstrable impact in their current position. Are you looking at your accounts receivable department’s staffing level regularly? Who is making the biggest difference in improving collections or issuing invoices in a timely fashion? If you’re examining other departments, look at which employees seem to be an X-factor in improving patient care. Data shouldn’t be the only thing considered, but it should be used as a tool to examine employee performance.
Taking on Responsibility
Look for employees that are taking on increased amounts of responsibility in their current position. Whether it’s looking for ways to positively impact other departments, helping out other employees with their tasks, joining new committees to improve the workplace or something else: Willingly taking on more responsibility is a sign that someone is ready for more.
A Growth Mindset
In the same vein, those looking for new learning opportunities should also be taken seriously as candidates for promotion. A growth mindset is a good indicator that someone wants to move up. After all, some are perfectly content staying where they are or even intimidated by taking on more responsibility. That said, sometimes finding a way to build someone’s confidence may be just what it takes to promote someone to a level where their people skills can shine.
Aligned With Your Mission
Every department and role within your healthcare organization should have a specific goal that factors into your overall mission. Most healthcare facilities have missions to provide the highest level of service possible, to treat illnesses, and to encourage patients to complete preventative measures so they stay in optimal health. All employees that you promote should be “all in” on your overall mission and goals.
A high-performing lone wolf is often not the best promotional candidate. However, a team player who might have lower performance metrics that wholly supports your mission and the employees around them could make an even bigger impact after a promotion.
The Ability to Take Criticism and Failure with Maturity
The best candidates for promotion in healthcare are those who can handle criticism and failure with maturity. When working on and with patients, there will always be inevitable failures. When determining the right time to promote in healthcare, think about people who can take lessons in stride. Those who can transform their disappointment in having made a mistake into learning and better performance in the future are best suited for leadership roles.
Think Critically About When to Promote in Healthcare and when to outsource
When it comes to hiring, your budget is also a consideration. Can you afford to hire and/or promote? Or is using a vendor a good temporary or permanent solution?
If your accounts receivable and billing team is fully staffed and everyone is at the correct level, consider whether adding a collection agency to your list of vendors allows you to better utilize your in-house talent for more strategic projects.
Alacrity Collections is proud to be a leader in commercial collections and would be happy to take on some of the more stressful tasks of your billing team. We achieve great results that are over twice the national average and treat all we encounter during our work day with dignity and respect. Alacrity’s team works tirelessly to protect your brand and improve your net returns.
To learn more about our services and get in touch, please call us at 1-800-752-9663 or set up a phone appointment directly on our representative’s calendar via this link: www.calendly.com/hheemann.