Revenue Cycle Training Opportunity
Introduction
Accounts receivable (A/R) refers to revenue owed by client and third party payers. Its main objective is to minimize the duration that accounts are outstanding. These accounts are stated as short-term stakes and unsecure promise that the recipient will pay in future. A plan is made in the accounts of the institution to balance accounts receivable that are not met as losses. To minimise this loss a well organised insurance A/R staff is put in place. The purpose of this report is to analyse the best way to come up with a competent training program for insurance A/R staff and how to assess the team’s competency. (Catherine & Gordon, 2008)
Training Programs
Training topics
The training topics during the insurance A/R program will include the following topics in their respective order as indicated below.
Scheduling of appointments and pre-registration process. This will teach the team on how to updates regularly in order to identify re-scheduled appointments, cancellations and on-shows. This will be done on daily basis to be used to reconcile with the daily charges. This stage may include verification of the customer’s insurance cover, patient’s locality and obtaining necessary pre-authorization (Catherine & Gordon, 2008)
Registration. acquisition of all copies of primary, secondary and tertiary insurance coverage cards. A photograph form of identification such as an ID. This will aid in the verification of the client’s locality. Practice of the Birthday Rule in circumstances in which the patient is a minor. Collection of all monies from the customer.
Charge capture and coding: there should be a clear documentation of all the services rendered to the client through charge slips or charge tickets. Immediately charges have been captured they should be transferred from coding to information system by interface means.
Claim edits. Once a claim has been made, personnel are sent through some kind of clean-up system for editing. Errors found during the clean-up are rectified by billing personnel. Prior to the claim, charges are automatically calculated on the client’s account or posted on the receipt.
Methods of payment calculation. The client’s payment is based on various factors such as fee for services, fixed rate, percentage of charges and capitation.
Collection process: accounts receivable should run systematically and used when tracing up outstanding claims. These claims are guided in order of age and dollar amount.
Common denials: this stage will familiarize the team with the negative expectations in their work. These denials may include lack of cover for the client, invalid ID number and untimely filing.
Training Resources
External resources
Under external resources, the program will engage experts in the same field from outside the company. Moreover, it will use newspaper advertisements tackling the same topics, sending employees to insurance seminars, outsourcing some employees in specific departments to other firms that offer the same services.
Internal resources
Under internal resources, the training program will utilize departmental heads who poses experience in the same field. Also, the training will require the employees to sensitize and educate their peers in the same area. Additionally, the program entails organizing internal seminars aimed at training and exposing the employees to insurance A/R.
Other training resources also prove vital for this program. The resources include physical facilities and the availability of funds. The internal resources in such a case will include:
Physical Facility. It refers to the building in which the training session will take place without interfering with the normal organizational routines. The management has identified one of the halls as the venue for the training. The amenity is spacious enough to accommodate the number of anticipated employees (Samuels, & Adomitis, 2003).
Materials for training. The materials in this case include the writing materials, furniture, and other facilities necessary for smooth training. The organization will cater for such materials as mentioned above to avoid burdening of the employees.
Furthermore, the external facilities include the resources personnel and security among others. The organization plans to ensure that it engages intellectuals with high-level competency in the sector to addresses the employees. The move will allow the employees to get information form a different perspective rather than from the usual faces. On the other hand, it will ensure the security of the employees during the meeting.
Educational techniques
Every training program requires insight and application of effective teaching and learning methods. Educational techniques that will are vital for the training program include the following.
Open discussion. The process entails the trainer suggesting one of the topics which then they discuss with the employees undergoing the training. The technique allows the employees to express their knowledge concerning the topic of discussion, thereby allowing the trainer to identify the areas for adjustment (Weimer, 2009).
Explanation. The technique proves the next vital approach since it allows the trainer to highlight the relevant and fundamental information underlying the program.
Modelling. The technique provides the employees with a tentative scenario of the actual roles they will assume concerning the insurance A/R (Weimer, 2009).
Independent practice. In this approach, the trainer will assign the employees tasks regarding insurance A/R. consequently, the employees will have independent groups to discuss the assignment and present the outcomes (Weimer, 2009). Finally, the trainer evaluates the aftermath of the assignment and make final assessment and corresponding comments.
Assessing competency
The step will entail conducting a periodic competency assessment test on the team. This will reveal the current status of each member of the team. As a result, the outcome of the assessment will enable the trainer to understand the level of each employee’s competence regarding insurance A/R. The assessment techniques encompass the following (FEA, n.d).
Through Performance Indicators. A performance management plan may be put in place to monitor each employee’s performance. These indicators may include; age’s accounts receivable by payer, loses percentage by collector and account adjustments. At the end of a specific duration, performance review should be carried out with each member.
Administering oral tests. The process involves verbally asking the employees of the learning outcomes during the training (FEA, n.d). The assessment criterion allows the trainer to identify the weaknesses and the strength of each employees
On the job assessment. The program uses the mother company and external related firms as training testing ground as a form of attachment or internship to assess the practical aspect of the employee’s competency level.
Conclusion
Planning for training aimed at enhancing the performance of the employees proves pivotal for any entity. The insurance A/R staffs need such training to aid their performance in the organization. As a result, the training is aimed to make them better their performance for the success of the organization. Due to the competitive nature of the market, organizations must provide quality services to meet such competitions. Otherwise, the going concern may remain compromised following the stiff competition for the clients. Therefore, offering such training is one way of ensuring that their service delivery remains relevant to the market demands.
References
Catherine M, C., & Gordon E. (2008). Inside Accounts Receivable Management. Texas
FEA. (n.d). Time-On-Task: A Strategy that Accelerates Learning: Educators who use effective classroom management techniques, employ good teaching practices and interactive learning activities have the power to turn on the learning lights. Florida Educational Association. Retrieved from https://feaweb.org/time-on-task-a-teaching-strategy-that-accelerates-learning
Weimer, Maryellen. (2009, July 20). Effective Teaching Strategies: Six Keys to Classroom Excellence. Faculty Focus. Retrieved from http://www.facultyfocus.com/articles/effective-teaching-strategies/effective-teaching-strategies-six-keys-to-classroom-excellence/
