The healthcare industry tends to have stressful jobs. For this reason, the employees in medical billing companies tend to suffer burnout. A condition of emotional, mental and physical exhaustion. This can prove to be a problematic situation for the organization. In case the patients are not in sound health and mind, the parents cannot be treated effectively. This would result in adverse effects on both the company revenue and reputation. Therefore, it is an essential problem for the hospital to work through.
There are various techniques present that can be applied by medical billing companies to treat these issues. Amongst these approaches is animal therapy and renewal rooms. However, a company does not necessarily have to apply such techniques. They can consider easier ways that revolve around the basic needs of their employees.
Most of us are well aware of Maslow's "Hierarchy of needs". Certain studies have labeled its use as a way to fight burnout. Abraham Maslow divided the needs of workers into several levels. Represented with the help of a pyramid, there is a certain sequence to be followed. The needs at the bottom level should be fulfilled before the company considers the higher levels. This method can be applied to physician or nurse burnout through the use of its five levels.
This considers the mental and physical health of the employees. If the physicians and staff suffer from depression, their job stress will amplify it. A patient in pain or dying can trigger further emotional turmoil, pushing them towards burnout. Considering the hectic schedule in medical billing companies, it is not a surprise that the staff does not have enough time. They are unable to have a healthy and balanced diet. Such issues can further deteriorate their condition. Therefore, it is important to offer them with on-site resources. These can help the staff to have easy access to their various needs. Including freshwater, healthy food and a comfortable place for rest and relaxation.
It is vital for the staff to feel secure in an environment where they are working. The absence of such security can cause further stress to the employees. Along with such security, employees also expect job security. This is because an employee would be more relaxed while working if they are sure that their job is safe. In order to cater to such needs, the medical billing company must ensure that employees are properly trained. This training is in regard to de-escalating violent situations that may occur with patients. Moreover, it will also enable them to move and support patients safely without causing any injury to themselves. The company can also focus on hiring additional security and staff members that ensure a safe environment. This would help them to feel more relaxed and thus, perform their job with higher efficiency.
Respect is necessary for employees to perform effectively. This is applicable to physicians and nurses as well since they wish to feel respected for their daily struggles. They wish to have this respect from both higher-ups and patients as well as from their colleagues. A common occurrence is nurses feeling disrespected by doctors or female doctors receiving poor treatment. To tackle these needs, the organization must take steps that create a more respectful environment. They should also address any technological issues that are taking place as soon as possible. To achieve such an environment, a company can introduce policies that ban any kind of bullying from taking place. It will also be helpful if the consequences of such issues are discussed. That'll instill the importance of respect within the company and keep any social issues from occurring.
Physicians and nurses may feel unappreciated for the work they undertake. This typically leads to frustration, sadness, and demotivation. They would not be able to enjoy their achievements through joy and celebration. Employees also tend to feel unappreciated when their salary is less than the work they have to carry out. Without any proper acknowledgment of their efforts, the staff would be unwilling to perform their best. They might focus on simply achieving the bare minimum out of disinterest. Appreciation also brings into account socialization. Interactions with peers can positively affect the moods of employees. A salary raise is not the only way to appreciate someone for their hard work. It can also be achieved through public appreciation. In order to improve the peer connection, the company can create spaces in the hospital. The staff can easily relax here and interact with each other.
The fulfillment of all previous needs can result in a combined goal for the staff. This objective can revolve around the patients which is advantageous for the company. In order to keep its performance high, the company can encourage more interactive time. With more face-to-face time, the day-to-day practice will improve resulting in a better revenue cycle. A more supportive environment can also lead to skill expansion and eventually better treatment for patients.
By addressing these important needs, a medical billing company can minimize the possibility of burnout. Their staff will be less likely to suffer any mental, emotional and physical turmoil with such implementation.
When their frustration with current fabric care options had fashionistas Gwen Whiting and Lindsey Boyd worn out, the two entrepreneurs made it their mission to start a new niche and launch their very own at-home, eco-friendly laundry detergent line.
With a mission of turning an everyday domestic chore into a luxurious experience, these entrepreneurs not only conjured up an idea for an unconventional product line, but they successfully built their business while turning down the offer of every venture capitalist to knock on their door.
Gwen Whiting and Lindsey Boyd co-founded The Laundress in 2004 after dealing with their own personal frustrations with limited clothing care options. Whiting, having worked at Ralph Lauren in design and Boyd having worked at Chanel in corporate sales, soon accumulated a stylish wardrobe of designer pieces as perks of their jobs in the fashion industry. However, the duo quickly realized that the maintenance required for upkeeping these items were far from adequate. Laundry products on the market at the time did not cater to delicate textures and fabrics such as tweed blazers, cable-knit cashmere and silk blouses. Taking their clothing to the dry cleaners also proved hopeless as their clothing would often come back with stains or even be ruined despite the overload of chemicals used to clean them. With nowhere left to turn, Whiting and Boyd were determined to create their own laundry solutions designed for specific fabrics.
Not only did the entrepreneurs develop the business expertise needed to finally begin their own company, but they also shared the same educational background that equipped them to pursue their unconventional business venture. Whiting and Boyd met in college as students at Cornell University majoring in Fiber Science, Textile, and Apparel Management and Design. The pair was introduced by a mutual friend and instantly knew they would become business partners. "It was inevitable that we were going to have a business together. We are both extremely entrepreneurial by nature, and it was one of the connections that we instantly shared" said Whiting. After focusing on pursuing their own individual careers for a while, Whiting and Boyd quickly discovered a void in the fabric care marketplace when their clients would continuously inquire about the upkeep of their designer pieces.
The entrepreneurial duo was committed to researching and developing their own eco-friendly laundry products and soon launched their own at-home solutions for specific fabrics like silk, wool and denim, which ultimately eliminated the need for dry cleaning for those particular items. Despite their products filling a necessary void in the market, it quickly became challenging for the founders to persuade people to shift their focus away from traditional laundry care options in order to try their products. However, Whiting and Boyd believed in their mission for the Laundress and bootstrapped from the very beginning, refusing all venture capital funding with the goal of growing organically. In order to be successful, they had to get creative in fundraising. "In the very early days, we funded business development by hosting a 'for profit' party at a New York City restaurant and inviting friends, family, co-workers, etc. to support our new venture. That was pre-Kickstarter and an inventive way to make everyone feel a big part of our decision to be entrepreneurs," said Whiting.
While turning down VC funding as new entrepreneurs seems unimaginable, it is as equally unfathomable to consider how these women gained national traction without social media, all the while hustling to fund their business. For Whiting and Boyd, who started their business before social media existed, it was imperative that they promote their brand by leveraging the resources they had available to them. The CEO's were one of the first to sell consumer goods, let alone detergent, online with the goal of reaching a national audience. Despite having limited retail distribution, they leveraged the power of their website and became featured in publications on both a national and international scale. "Before social media platforms existed, we nurtured our own Laundress community with engaging content on our website, step-by-step tutorials on our blog, and one-on-one communication through our Ask The Laundress email," Whiting explained. With technology evolving and the birth of social media platforms, the founders expanded the conversation about their products from website, blog and email to platforms like Facebook and Instagram.
As female entrepreneurs, Whiting and Boyd faced additional hardships as misconceptions about their mission ultimately proved to disappoint more than it encouraged them. As women selling luxury detergent, there existed a preconceived notion that funding would be more easily attainable based upon their gender.
"Everyone thought it was easy to access capital as female entrepreneurs, but it was actually very challenging. We had this unique and disruptive idea within a very traditional space and it was hard to get people on board at first. It's been a continuous journey to educate people in fabric care and home cleaning," said Boyd.
Reflecting on their journey as entrepreneurs, the founders express no regrets about refusing to accept venture capital throughout the process. "Over the years, we could never quantify the cost benefit of VC funding so we continued to grow organically and remain independent by funding ourselves with credit cards and loans," explained Boyd. While their decision proved fruitful, the duo expressed their consideration towards other entrepreneurs who may not be able to fully fund their business as they grow. Because funding is a situational experience, entrepreneurs must ultimately do what is best for their business as no one path is optimal for every entrepreneur or every business.
With an increasing amount of women entering entrepreneurship with their own unique set of products or services, the CEO's offer up one piece of advice on how female entrepreneurs can be successful in their endeavors.
Whiting: "Our advice to anyone looking to build their brands: Have a strong business plan and vision. If you are not disciplined to write a business plan first then you are not disciplined to start a business. Get your ideas down so you ask yourself the right questions; it helps you get organized and plan next steps."
Boyd: "Create quality products without sacrificing the ingredients—no cutting corners. What you create should be the most important piece. Stay passionate, and trust your instincts and follow your gut—something woman are awesome at!"