Labor shortages present significant challenges for healthcare organizations, which have been intensified by the COVID-19 pandemic. Nearly two-thirds of healthcare facilities are understaffed, resulting in decreased data quality, slower claims processing, increased claim denials, increased workload, burnout among existing staff members, and higher turnover rates. An AHIMA survey report as of October 1, 2023, indicates the U.S. experienced a 66% shortage of health information professionals (HIM) for the last two years due to the great resignation, an increase in growth demand, and an increase in the aging population in the U.S healthcare industry.
Data from the Bureau of Labor Statistics (BLS) estimates that healthcare jobs are expected to grow 13% through 2031. Approximately 83% of HIM staff are distributed between revenue cycle management (RCM), coding and billing, and medical record administration, suggesting an even higher concentration of a shortage of staffing in these areas in the future.
The struggle to meet the growing demand for services leads to a decline in revenue and margins. This has both financial and operational implications that can negatively impact patient satisfaction, making it critical for healthcare organizations to address the challenges of labor shortages.
Leveraging global resources
By tapping into a global talent pool of qualified candidates, healthcare organizations can access skilled professionals who can help fill the gaps in HIM and clinical administrative staff to address labor shortages issues to ensure high-quality patient care. Outsourcing RCM, medical coding and billing to reliable service providers can help healthcare providers reduce their operational costs while ensuring quality and accuracy in the services provided. Scaling resources based on demand provides flexibility while ensuring revenue is improved through increased collections and reduced delays and denials.
In addition, healthcare providers can invest in technology solutions to automate certain tasks and alleviate the burden on HIM and clinical administrative staff. Using technologies such as computer-assisted coding (CAC), artificial intelligence (AI), automation, and autonomous coding frees up staff to focus on higher-value tasks that require more specialized knowledge and skills.
At the same time, it is important to invest in training and career development to ensure existing staff acquire the skills they need to take on new roles and responsibilities. This ensures the creation of a strong and skilled workforce current on regulatory and coding updates while eliminating the need for retraining.
By leveraging global resources, embracing technology innovation, and providing training and career development opportunities to existing staff, healthcare organizations can not only fill the gaps in their staffing with the talent they need to provide high-quality care to patients, but they can also reduce operational costs and improve the quality of services provided.
Contact us to explore innovative solutions that can help your organization address staffing shortages to maintain financial stability while you focus on delivering high-level customer service as well as quality and efficient care to patients.
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