hiring & retaining top revenue cycle talentaahamchapter.org/publications/medix nj aaham ppt...

Positively Impacting Lives™

Hiring & Retaining

Top Revenue Cycle Talent

AAHAM

November 2016


Introductions

Sandra JovanovicAlexa Pellacani

The Proof is in the Numbers46% of newly hired employees will fail within 18 months

• 89% of those for attitudinal reasons, 11% for skill

• Only 19% achieve unequivocal success

17% of employees are actively disengaged. These employees are busy acting out their unhappiness, undermining what their engaged co-workers are trying to accomplish

41% of companies say a bad hire in the past 12 months has cost them over $25K

• Negative impacts of a bad hire:• 40% Lost time• 41% Lost productivity• 37% Recruiting/training expense• 36% Impact to team morale• 22% Impact to clients


Industry Disruption

○ 18% job growth through 2024

○ 192,800 new medical billing and coding jobs

○ Average turnover rate is 38.3%

○ Average cost of a bad hire between $25-50K

○ The revenue cycle market is expected to grow from

$18.3 to $32.2 billion by 2019


Productivity Impact

Low vs. High Performer

1 3Bottom Top

AverageProductivity

Productivity

Emp

loye

es


“A small team of A players can run circles around a giant team of B and C players.”

– Steve Jobs


The use of data to hire and retain top talent through workforce solutions

Traditional Hiring Process


Needs

Sourcing

ScreeningInterview

Hire

Keyword Search

Reference Check

Phone Interview

Gut Feeling Decision

Candidate Accepts &

Starts

Understanding Success Measures

• What impact does talent have on your

organization?

• What makes your team successful?

– What differentiates your top performers?

• What does a good hire look like?


Hiring Process Performance Efficacy

29% Work sample Test

26% General cognitive ability

26% Behavioral structured interview

14% Unstructured interview

7% Reference check

3% Resume / Experience


Behavioral Interviewing

• Creating interviewing consistency– Friendly conversation

– Job related conversation

• Unstructured vs. structured conversation

• Job-related questions based on required competencies

• Typically assessing 4-6 key competencies

• Candidate fairness


Types of Questions

• Behavioral

– Based on the premise that the best predictor of future

behavior on the job is past behavior under similar

circumstances

– Draw from a candidate’s actual behavior during past

experiences

• Situational

– Based on the premise that people’s intentions are closely tied

to their actual behavior

– Present realistic job scenarios and ask how applicants would

respond


Behavioral Interviewing

• What are the key drivers to success?

• Have a purpose behind your

questions

• Scenarios can become your

questions

• ABCD Model

• Things to look for in a response

– Key indicators

– Example relevance

• Real-time scoring method


6 Key Steps

1. Review position materials

2. Determine the ABCs to be assessed

3. Develop unbiased interview questionsa) Determine need for probing questions

4. Develop a rating/measurement scale

5. Develop the interviewer’s guide

6. Continually refine questions



Behavioral Interview Best Practices

• Understand what differentiates your top

performers

• Streamline your process

• Create a list of questions per skillset

– SME Review

• Educate your interviewers with a guide

• Continually refine

How to Engage Employees?• Build Value

– Demonstrate you value employees (i.e. Life balance initiatives), give recognition and feedback

• Advancement/Growth

– Providing challenging and meaningful work with opportunities to grow/advance

• Transparency

– Set expectations, company direction and goals, understanding why they are important and how talent can get there

• Vision & Purpose

– Make them feel that they are part of something and bought in, people want to know that their input is valued and that they are a part of the team

• Teamwork & Collaboration

– Working in teams where they feel there is trust and cooperation and cohesiveness


Engagement Ideas• Identify how each employee

likes to be recognized– PTO, handwritten cards, gift

cards, emails, etc.

• Get to know your team on a personal level

• Sharing best practices• Team building activities and

staff outings• Enforce a lunch break• Employee of the week/month

• Employee recognition ideas– Birthdays, life events, volunteer

events, Thank You board from fellow colleagues/clients/patients

– Don’t forget the casual acknowledgement



Engagement Best Practices

• Consider personality and culture fit in your

hiring process

• Understand how your team is motivated

• Make engagement a priority

• Ask your team to generate ideas

• Create a committee


Questions?

hiring & retaining top revenue cycle talentaahamchapter.org/publications/medix nj aaham ppt...

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