Burnout in the Revenue Cycle
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Rising Burnout: Revenue Cycle Teams Under Pressure
Burnout among revenue cycle teams and employees in healthcare organizations has been significantly increasing. A 2018 survey conducted by the Medical Group Management Association (MGMA) revealed that 73% of healthcare leaders reported feeling burnt out. Fast forward to 2022, and an alarming 80% of healthcare leaders reported increased stress and burnout. The primary causes of burnout include staffing issues, resulting in heavier workloads, and the ever-changing healthcare landscape, causing friction and operational challenges.
Furthermore, there is a shortage of revenue cycle management (RCM) professionals, with 63% of providers experiencing staffing shortages. This shortage places a heavier burden on the existing workforce, leading to burnout. Healthcare organizations are also facing financial strain due to the extended impacts of COVID-19, including decreased volume and increased expenses for telehealth practices.
The administrative burden of prior authorization diverts resources away from direct patient care and contributes significantly to stress and burnout among revenue cycle professionals. The combination of these factors creates a highly stressful environment for revenue cycle teams and employees, which also impacts the patient experience.
With medical coding and billing professionals at the heart of every claim and every dollar earned in healthcare, there is a lot at stake.
According to The Association for Talent Development (ATD), companies that invest in employee training enjoy 218% higher revenue versus companies that do not. A Corporate Membership with AAPC can optimize operations with the tools your team needs to stay up-to-date with coding guidelines and compliance requirements, resulting in error prevention and risk mitigation - and resulting revenue cycle gains.
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40% of healthcare employers cover the cost of AAPC’s membership because it provides a competitive benefit, showing their team that they care about their professional growth and development.
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