Please answer the 2 questions below. Subject: Healthcare Reimbursement Procedures – Revenue Cycle
Theory into Practice
Anywhere Hospital’s CFO for the past 20 years, Jim Smith, just retired. He worked for the hospital for 40 years and was greatly respected by his staff. The hospital governing board has hired a new CFO, Todd White.
Jim Smith utilized the silo approach to revenue cycle management during his tenure. He relied on his key management personnel to contact upper management of other departments in the hospital to discuss issues and to resolve problems and vice versa.
Todd White, however, had implemented an integrated revenue cycle team at his former hospital three years ago and strongly believed in the power of teamwork. His previous team had gained numerous efficiencies and improved accounts receivable by millions. So when Todd started at Anywhere Hospital he planned on implementing a similar revenue cycle team.
As with any change, Todd was met with much resistance. But after speaking with many of his managers in patient accounts and finance he realized that the employees did not know how to effectively work in teams. And why should they—the previous CFO had not asked them to do so in several years.
1. What are some creative ways that Todd can help Anywhere Hospital understand the importance of an integrated revenue cycle team?
2. How can a manager improve teamwork amongst his or her employees? Does Todd need assistance from a Change Management Leader? Explain your answer.