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Why healthcare revenue cycle careers are heating up for millennials

About two-thirds of millennials in revenue cycle jobs are satisfied with their roles, though many said they'd consider other career opportunities.

Jeff Lagasse, Associate Editor

Millennial healthcare professionals who work in the revenue cycle are largely satisfied with their employers, which is good news for hospitals business decision makers and department heads striving to retain young talent. The only catch is that many of them remain open to new career opportunities.

That's according to a report from staffing and recruiting firm LaSalle Network, which reviewed responses from 3,500 millennial revenue cycle professionals, ranging from managers to executives.

WHY IT MATTERS

Hospital executives need a pulse on hiring and talent retention for long-term strategic planning and staffing.

A fairly healthy 66 percent of respondents said they were satisfied or very satisfied with their overall happiness at work, and while a smaller percentage said the same about their employer's benefits, 59 percent still expressed satisfaction.

Company culture got good marks as well, with 65 percent of millennials saying they're satisfied or very satisfied with their workplace culture.

The most important aspect of company culture, according to the respondents, is learning, growth and development. A full 81 percent said they were open to new career opportunities, and most cited compensation as the most important factor when deciding where to work.

About 52 percent said they were satisfied or very satisfied with their career path at their employer -- a smaller percentagem, of course, but still more than half. Training and development didn't fare quite as well. Only 45 percent said they were satisfied or very satisfied with training and development at work.

THE TREND

Competition for revenue cycle jobs is intense.

Making hiring qualified candidates even harder is that many health systems are seeking new graduates with specific degrees in healthcare management or administration, according to Jason Siegel, director of recruiting for healthcare revenue cycle at Chicago-based staffing firm LaSalle. Systems are looking for proficiency with software like Epic, Cerner and Meditech, as well as strong math skills.

And while fresh grads don't need a STEM or math background per se, they need to be able to handle functions, measurements and calculations. Soft skills are also a plus; these include an eagerness to learn and good organizational capabilities.

Focus on The Business of Healthcare

In December, we take a deep dive into what top business decision makers need to know about digital transformation.

Twitter: @JELagasse

Email the writer: jeff.lagasse@himssmedia.com

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