Disclosure. Today s Goals. March 23, A ReimbursementHow to Source and Groom Today's Talent for Tomorrow's Leaders

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1 A Reimbursement Department Career Ladder How to Source and Groom Presented by Richard Davis, SHRM SCP, SPHR McClain Group, LLC Disclosure Richard Davis is an employee of the McClain Group, LLC. Clinical trials and off label/investigational uses will not be discussed during this presentation. 2 Today s Goals Gain an understanding of today s job market Learn effective techniques in talent management Candidate sourcing Interviewing Onboarding Learn how to build an effective structure to develop employees and retain top performers Reimbursement Department Career Ladder 3 Conference & Exposition 1

2 Reimbursement Department Career Ladder 4 Who is in the Workforce? Baby Boomers Born between Generation X Born in the mid 1960 s to early 1980 s Generation Y or Millennials Born in the early 1980 s to early 2000 s Reimbursement Department Career Ladder 5 Reimbursement Department Career Ladder 6 Conference & Exposition 2

3 Reimbursement Department Career Ladder 7 Reimbursement Department Career Ladder 8 The ultimate goal, regardless of generational category is to hire the BEST Reimbursement Department Career Ladder 9 Conference & Exposition 3

4 Reimbursement Department Career Ladder 10 The right people can be the difference between extinction and survival profit & loss Reimbursement Department Career Ladder 11 HOW MUCH DOES PERFORMANCE VARY BETWEEN THE TOP AND THE AVERAGE? Bill Gates says the difference between a top performer and an average one is 100x Reimbursement Department Career Ladder 12 Conference & Exposition 4

5 Poor Producers Average Producers Superior Producers Bottom 16% 68% Top 16%. Reimbursement Department Career Ladder 13 Why does this matter? Skilled Average produce 32% more than Poor producers Superior produce 32% more than Average Superior produce 64% more than Poor producers Management / Professional Average produce 48% more than Poor producers Superior produce 48% more than Average Superior produce 96% more than Poor producers Source: The validity and utility of selection methods in personnel psychology: Practical and theoretical Reimbursement implications Department of 85 Career years of Ladder research findings 14 Psychological Bulletin, Sept 1998, Vol. 124, No. 2, pp Have you ever made a conscious decision to hire a nonperformer? How do non performers get hired? Reimbursement Department Career Ladder 15 Conference & Exposition 5

6 Developing Future Reimbursement Leaders Steps to Success 1. Find the Best Determine what skills you need on the team 2. Hire the Best Determine the specific experience the candidate must possess 3. Develop the Best Determine what experience is necessary for one to advance in your organization Reimbursement Department Career Ladder 16 Effective Employment Strategies Create job descriptions Identify core competencies/dimensions Pursue every angle to source candidates Conduct good behavioral interviewing Utilize assessment tools Create effective on boarding and orientation Constantly train and develop all employees Create effective feedback processes Reimbursement Department Career Ladder 17 Job Descriptions Include the company mission or vision Summarize the job duties Detail the job duties Provide the requirements for the job Include a disclaimer Get commitment from manager and employee Reimbursement Department Career Ladder 18 Conference & Exposition 6

7 Job Descriptions Reimbursement List specific expectations and goals Days in accounts receivable Days to complete insurance verification Time period to bill claims Unpaid claims follow up timeline Minimum % denial rate Minimum DSO Minimum % of unbilled or held revenue Reimbursement Department Career Ladder 19 Core Competencies/Job Dimensions Attention to detail Ability to multi task Exceptional communicator, written and verbal Ability to work independently Team oriented Adaptability High energy level Reimbursement Department Career Ladder 20 Candidate Sourcing Applicant Tracking System Internal (create bench strength) Colleges/Universities/Tech schools Job Boards Indeed, Monster, CareerBuilder, ZipRecruiter Business Networking Sites LinkedIn, Plaxo Facebook Craig s List Reimbursement Department Career Ladder 21 Conference & Exposition 7

8 Behavioral Interviewing Develop interview team Determine job dimensions Conduct behavioral interview Conduct interview review meeting When able, allow peer review interview Reimbursement Department Career Ladder 22 Use the STAR Method Reimbursement Department Career Ladder 23 Behavioral Interviewing Situation Task Action Result Reimbursement Department Career Ladder 24 Conference & Exposition 8

9 Behavioral Interviewing S SITUATION An overview of a situation Reimbursement Department Career Ladder 25 Behavioral Interviewing T TASK Description of a task that was handled or resolved Reimbursement Department Career Ladder 26 Behavioral Interviewing A ACTION The methods, techniques, actions taken and skills used to resolve the problem, situation or task Reimbursement Department Career Ladder 27 Conference & Exposition 9

10 Behavioral Interviewing R RESULT The results of the experience Reimbursement Department Career Ladder 28 Assessment Tools Assessments help you to hire for fit Reimbursement Department Career Ladder 29 We hire on competence We fire on fit Reimbursement Department Career Ladder 30 Conference & Exposition 10

11 Have you ever hired or promoted people who were not what they appeared to be? Reimbursement Department Career Ladder 31 Here is what you see when you hire and promote Reimbursement Department Career Ladder 32 Here is what you get! Reimbursement Department Career Ladder 33 Conference & Exposition 11

12 No business can afford the risk! Reimbursement Department Career Ladder 34 Interviews have a 14% success rate for identifying superior people! Hunter & Hunter Validity & utility of Alternative Predictors of Job Performance. Psychological Bulletin, Vol. 96, No. 1. p90 Reimbursement Department Career Ladder 35 Heads or Tails? Reimbursement Department Career Ladder 36 Conference & Exposition 12

13 Interview Reference Checking Personality Testing Abilities Testing Interests Testing 14% Your Resources 26% 38% 54% 66% Job Matching 75% Sources: Professor Mike Smith, University of Manchester, August 1994 John E. Hunter and Ronda F. Hunter, Validity and Utility of Alternative Predictors of Job Performance, Psychological Bulletin, Vol. 96, No.1, 1984, p. 90; Robert P Tett, Douglas N. Jackson, and Mitchell Rothstein, Personality Measures as Predictors of Job Performance: A Meta-Analytical Review, Personnel Psychology,Winter 1991, p.703. Michigan State University s School of Business. Reimbursement Department Career Ladder 37 Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people. Jim Collins: Good to Great: Why Some Companies Make the Leap... and Others Don't Reimbursement Department Career Ladder 38 Effective Onboarding Extends well beyond the first day Is a systematic process Cultivates long term relationship building Promotes a better understanding of company culture, mission and goals Fosters a feeling of belonging and affirmation of making the right choice Reduces the time it takes to hit the ground running Reimbursement Department Career Ladder 39 Conference & Exposition 13

14 Why is Onboarding Important? A Development Dimensions International survey concluded that 51% of employees regret accepting their current position and 40% of NEW hires are already looking for another job Reimbursement Department Career Ladder 40 Effective Onboarding Generate an offer letter Outline compensation by pay period Communicate name of direct supervisor Provide official start date Outline any benefit waiting periods Include an at will statement that meets State guidelines Review job description and position expectations Develop a first /30/60/90 day plan Assign a mentor Reimbursement Department Career Ladder 41 Onboarding Malpractice Lack of communication after job offer No one meets the new hire on first day New hire is inundated with paperwork New hire is placed with Superstar employee to train There is no definite plan for the initial and ongoing training No official new hire orientation Reimbursement Department Career Ladder 42 Conference & Exposition 14

15 Onboarding at Disney In order for employees to become effective employees and future great leaders, they must know their role, actualize themselves, and acclimate to the company s culture. The only way this can happen is through onboarding. Reimbursement Department Career Ladder 43 New Employee Orientation Structured session with all new hires Within the first month of hire Company leaders should be introduced Shows other areas of the company Topics should include: Company history, mission and goals Policies and procedure Benefits Required initial training ohipaa oharassment osafety Reimbursement Department Career Ladder 44 Bench Strength Spend time and utilize tools to assess and understand skills sets and competencies of staff Provide significant on the job training opportunities Create progressive assignments Stretch tasks Carefully design assignments Evaluate future needs in projects, assignments of promotions Provide individualized training opportunities Develop cross functional training opportunities Reimbursement Department Career Ladder 45 Conference & Exposition 15

16 Employee Development Know and understand the skills sets of all employees Provide specific expectations for the job Provide constant feedback on performance Provide continuing education Take Ten every day Be an advocate for success Reimbursement Department Career Ladder 46 Career Ladder Progression Position Titles are for Example Purposes Patient Account Representative I Patient Account Representative II Patient Account Representative III Team Lead Department Supervisor Department Manager Reimbursement Department Career Ladder 47 Career Ladder Progression Develop Specific Job Descriptions Patient Account Representative Develop specific job responsibilities and duties for each level Develop job knowledge requirements for progression to each level Develop cross training expectations for each level Cash Posting Insurance Verification Collections Medical Records Reimbursement Department Career Ladder 48 Conference & Exposition 16

17 Career Ladder Progression Develop Specific Job Descriptions Team Lead Provide opportunities to lead projects and teams Provide opportunities to lead different groups Assign additional responsibilities Create reports Measure accuracy Measure clarity Measure detail Reimbursement Department Career Ladder 49 Create Cross Training Pods Medicare Private Insurance Government Payors Insurance Verification Collections Cash Posting Reimbursement Department Career Ladder 50 Feedback Employees across all generation groups want: Clear and defined expectations of the job How they are doing against what is expected How their efforts make a positive difference toward company goals To know that their manager and company cares about them as an individual Reimbursement Department Career Ladder 51 Conference & Exposition 17

18 Take Ten How are you doing How is the team doing What can I do to help Reimbursement Department Career Ladder 52 Most Important Recommendation!! COMMUNICATE COMMUNICATE COMMUNICATE Reimbursement Department Career Ladder 53 Reimbursement Department Career Ladder 54 Conference & Exposition 18

19 Richard Davis, SHRM SCP, SPHR McClain Group, LLC 12 B Carriage Lane Charleston, SC richard@mcclaingroupllc.com Reimbursement Department Career Ladder 55 Conference & Exposition 19