Why you should consider using a search firm?

Over recent years, approximately two thirds of those hired in healthcare management positions were acquired through a search firm. Most hiring authorities and HR professionals are therefore acquainted with the significant differences among these firms and the various levels of service they provide. That said, there are a number of reasons healthcare provider organizations use search firms and the following is a brief summary you might find useful in confirming the value of such services:

• Search professionals help you access “hidden candidates”. These are candidates who are very happy in the current employment scenario. They typically do not have the time or interest to look at ads and they would not answer them if they did. They are not looking for jobs. Often, these are highly desirable candidates for obvious reasons. Through research and other techniques, competent recruiters identify and build relationships with hidden candidates on your behalf.
  
• Search professionals help you avert “sight seers”, people interviewing without serious interest or compatibility. This saves you considerable time, money and aggravation.
  
• Search professionals help you by bringing “confidence” in the probability that a candidate you are working with would accept the position if offered. Issues like compensation, relocation, family/personal matters and others are addressed by the firm before you advance too much time and energy in the process of considering the candidate.
  
• Search professionals uphold the highest standards of “confidentiality” in all they do. That allows them to conduct search activities inside your organization as well as individuals you have targeted outside of your organization but were reluctant to pursue directly for various reasons.
  
• Search professionals are experts in “on-boarding” and can assist you with this process. On-boarding is a critical element of a successful transition of the newly hired candidate into your organization. It is well documented that organizations that have adopted an active on-boarding process experience fewer failed hiring attempts.

The above is only a summary. If you would like to discuss this topic further or you have comments, please feel free to contact us.

Billing backlog, collection backlog, posting backlog – what is the right option?

There is no “cookie cutter” solution because the factors contributing to processing backlogs vary. Here are just a few:

• System conversion
• Limited labor pool
• Space constraints
• Volume increase
• Training deficits
• Ineffective work flow design
• Change in payor requirement
• IT problems

The first step is to understand the root cause of the backlog and establish (a) an acceptable timeframe for resolving the backlog and (b) a mechanism to prevent recurrence. The result is almost always a determination that part of the game plan should include additional resources. That is when the question of options becomes critical. Conventional options have summarily included:

• Hire more staff and accept the time required to train them to the point where they are effective
• Outsource to a vendor with a remote processing venue
• Bring in skilled temps (interim collector, interim biller)
• Some combination of the above

There is another viable option not mentioned above that is very effective – REMOTE AR SPECIALIST. This would be a highly skilled, experienced collector, biller or insurance follow-up person(s) that would work from home with access to the provider system. Typically, this resource would initially work at the provider site for a short time getting familiar with the systems, people, policies and other critical orientations. Work standards would be established and the AR SPECIALIST would then work from home, saving travel cost and eliminating the need for work space at the facility. This very contemporary approach is available through Nearterm Corporation and has worked very well for many provider organizations.

INTERESTING FACTS ABOUT THE DIRECTION OF HEALTHCARE FUNDING – CHANGING TIMES!

Most people have conventional wisdom that drives their belief about healthcare funding sources. Here is a trend analysis I recently reviewed in the September/October 2010 “Healthcare Executive” publication that tells you where the money really comes from and illustrates how things are changing;

You can visit http://www.ache.org/ to review other interesting facts about our industry trends. Obviously, Medicare is increasing as a funding source and Private Pay is decreasing on a percentage basis. This shift demands that we continuously evaluate operating practices and use of technology. Our Revenue Cycle Strategists and others on our consulting team are working with provider organizations every day to assist with best practice implementation and process innovation designed to stay ahead of the curve. If you have identified solutions you would like to share or if you would like to talk with us about how to deal with the changes ahead, please give us a call.

ICE (IN CASE OF EMERGENCY)

Have you heard the saying “the cobbler’s son has no shoes”? As healthcare professionals, we are expert at caring for emergent patients and educating the public about wellness and safety. But sometimes we neglect our own wellbeing in lieu of our commitment to the welfare of others. Here’s an easy thing you, your family and friends can do to ensure that in the event of an emergency, your caregivers have a chance to deliver the best care possible. In your cell phone and computer contacts, set up a contact called ICE. Emergency, hospital and other officials are trained to look at your contacts for an “ICE” contact in emergency situations. Here is a link with more details about “ICE”;

www.asse.org/newsroom/safetytips/docs/icepowerpoint32608.ppt

By doing this, emergency teams can immediately obtain critical information from you about the patient (history, meds, allergies etc.) and also let you know where the patient is being taken for treatment. You might consider passing this along to school, church, sports and other groups you associate with.

iPad Winner!

Congratulations to Danielle O'Brien of Knox Community Hospital in Indiana. You are the winner of the Apple iPad!

Nearterm would like to thank everyone for stopping by the booth at the ANI. See you again next year.

The Great iPad Giveaway

Nearterm is celebrating 20 years of nationwide service to our clients in the healthcare industry, so we are giving away an iPad at the ANI in Las Vegas. Stop by booth 161 and drop your business card in our hopper or fill out an entry form for a chance to win! Anyone not attending please call our offices in Houston and ask to talk with Tammy Flowers for your chance to win.

The drawing will be held in the afternoon session of the exhibit on Tuesday, June 22.

HFMA Mentor Program

Nearterm continues to support the efforts of HFMA. In addition to sponsorships, Jim Matthews, a Principal with Nearterm has been active with various committees and chapter events. Most recently, we have demonstrated our support for continuing education and development through participation in design of the HFMA Mentor Program. This program will be implemented soon as a Gulf Coast Chapter benefit and will assist financial and revenue cycle professionals with career direction, work related decisions and other needs. Senior professionals will serve as Mentors working with less experienced Mentees. We are excited about this program and we are certain that both Mentors and Mentees will benefit, strengthening our industry overall with the presence of greater expertise in our provider organizations.

Q-100 - Quality 100% Of The Time

Today we commence implementation of our newly designed Quality Assurance Program, “Q-100”. Q-100 is characterized by:

• Client centered protocol
• Outcomes driven measurement
• Efficient program maintenance
• Our belief that quality is the key to success

The Nearterm Q-100 Team has worked hard to develop a streamlined program that would ensure service quality. We thank all who participated.

NEARTERM AND THE GLOBAL ECONOMY

We are all individually impacted by the global economic turbulence surrounding us. Credit has tightened, prices are higher and overall market confidence is diminished.

However, we thought you might appreciate some perspective about how Nearterm is doing. The short answer is we are doing great! Our revenues are strong, operating cost is under control, turnover is low and we continue to grow, even in the face of these challenging economic times. That has been our story since 1990 and our success continues. In fact, 2008 will be our best year since inception. The synergy we anticipated in our merger and ESOP strategy has materialized and is visible in our financial performance.

The truth is, we are successful because we are good at what we do. If you are already a Nearterm employee/owner or an existing Nearterm client, you know why we are so successful. If you are not, we urge you to talk with us.

March 26, 2008

The Houston Area Association of Personnel Consultants (HAAPC) is a professional trade organization supporting the search and staffing industry. At this year’s awards banquet, held on March 28, 2008, the HAAPC recognized NearTerm as the 2007 Houston leader in contract/temporary services in the technical/professional division. Congratulations to the winning team - Gayle Tapps, Donna Wells and James O. Higgins, who have successfully achieved the number one position in Houston 4 years running. Another high five goes out to Elizabeth Thibodeaux for being recognized by HAAPC as “Rookie of the Year” for permanent placement cash in; this is a very competitive category and we are incredibly proud of Elizabeth’s accomplishment. Elizabeth and Tony Pedraza also received recognition for exceeding the $250,000 Cash-In mark in permanent placement revenues for 2007.

In other exciting news, NearTerm recently announced the acquisition of Excel Unlimited Inc., an executive search firm and Scott & Matthews, Inc, a revenue cycle consulting practice. NearTerm is now positioned to serve clients with expanded services. Give us a call and let us see how we may help you.

NearTerm is also proud to announce that it is now an employee owned company. We adopted an ESOP (Employee Stock Option Plan) in March. What an exciting start for 2008!

CONTACT US:
15915 Katy Freeway, Suite 205
Houston, Texas 77094
Tel: 281-646-1330
Toll Free: 888-646-1330
Fax: 888-646-1331