Patient-accounts managers' roles expand, but few recruiting, training programs exist

Area of Science:

• Healthcare Administration
• Financial Management
• Human Resources in Healthcare

Background:

• Patient-accounts managers are essential for collecting 90% of hospital gross revenues.
• Current industry practices are insufficient for educating, recruiting, and retaining these professionals.
• The roles of these managers, also known as business office managers, are expanding.

Purpose of the Study:

• To highlight the critical financial role of patient-accounts managers.
• To identify the need for improved professional development and compensation in healthcare revenue cycle management.
• To advocate for enhanced educational and retention strategies for business office managers.

Main Methods:

• Analysis of the current state of patient-accounts management in hospitals.
• Review of industry expert opinions on education, recruitment, and retention.
• Assessment of the impact of expanding roles on professional requirements.

Main Results:

• Patient-accounts managers are responsible for a significant majority of hospital revenue collection.
• There is a recognized gap in industry support for the education, recruitment, and retention of these managers.
• Expanding responsibilities necessitate advanced skills and competitive compensation.

Conclusions:

• The healthcare industry must prioritize the development of robust educational programs for patient-accounts managers.
• Increased compensation and improved career advancement opportunities are crucial for attracting and retaining talent.
• Investing in business office managers is essential for optimizing hospital financial performance and operational efficiency.