Hospital Management Team Turns to Kforce, Reduces Costly Turnover Trends
On track for national expansion, a hospital management system finalized the plan for development of four major Regional Business Offices (RBOs) over an 18-month time frame. Locations included California, Texas, New Jersey and Kansas.
Leadership’s mission was to centralize operations through the RBOs to create a long-term, cost-effective operations model. Starting with California, each RBO initially needed 200 resources for RBO management/administration and patient financial services (PFS) project management.
There were strong risks, however, including high turnover trends and inexperienced resources. These factors could have had a damaging, lasting impact on revenue.
“These challenges are typical when it comes to RBO development,” says Mark Coronella, Kforce Vice President of Healthcare Client Development. “In the industry, we’ve seen that it costs between 30 to 40 percent of an entry-level employee’s salary to on-board, train, retain and or replace them due to high levels of attrition in the PFS space. That cost jumps to 150 percent to replace mid-level employees and as much as 400 percent to replace high-level employees. We knew that Kforce could help reduce that burden by delivering quality PFS and Revenue Cycle Professionals and at the same time providing peace of mind and cost savings to the leadership team. We did this by narrowing the margin of error or risk behind standard turnover rates in a new PFS RBO environment.”
Kforce’s Managed Staffing Solution included collaboration between local recruiting specialists and our Centralized Delivery Team. These teams worked together to identify and screen candidates that met the client’s criteria, including factors such as experience, skills and personality fit.
"We were determined to quickly help the client improve workflow, achieve standardization and position new teams for training," states Coronella. "We found consultants who were fully dedicated to helping the client reach their goals, and they hit the ground running."
Through outsourcing and partnering with Kforce, the client was able to critically reduce risk, unemployment costs, and payroll taxes typically associated with hiring personnel. Our careful screening process also led to quality resources with low turnover. Ultimately, our client improved their performance management and talent retention strategy for the RBOs, reducing negative impacts such as overhead costs within the first 90 days.
As these projects continue to arise with some of our largest and most valued Healthcare System partners, Kforce has the experience needed to consistently deliver best-in-class results. This was not only an exciting opportunity for Kforce to deliver to our valued client, but was also a scrapbook achievement that showcased our unique abilities in a space we truly thrive, at scale with quality.