Business Case for FinThrive Learn

Employee retention does not always translate easily into dollars and cents. In the current labor market, there are more open positions across industries than there are workers to fill them. People have options.

Of employees who quit their jobs, 54% felt their employer did not value them. FinThrive Learn allows you to invest in your team, showing you are interested in their future and want them to grow with your organization. The more people learn, the more likely they are to be happy and satisfied in their work. Heavy learners (those who spend more than five hours a week learning) are 21% more likely to be happy at work than those who spent less time learning.

Challenges

Hiring, training and keeping employees is costing you money.

Retaining qualified, high-performing employees is a challenge.

Turnover affects employee morale and your bottom line.

Goals

Reduce turnover and staffing costs

Strengthen employee satisfaction

Increase patient satisfaction

Improve compliance

Boost revenue

Enhance the bottom line

Solid partnerships. Solid results.

50%

Retention rates increase by 30% to 50% for companies that embrace strong learning cultures.

86%

86% of millennials—the largest generation in the US labor force—would stay at their current jobs if their employer offered training and development.

72%

As many as 72% of employees are looking to leave their job to look for new opportunities because employees feel their organization does not allow them to grow.

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Partnering with FinThrive Learn is budget neutral.

Replacement costs for employees can be as high as 60% of position compensation, with overall costs ranging anywhere from 90% to 200%.

Example: If an employee makes $40,000 annually, then it can cost up to $24,000 just to replace that person, which represents between $36,000 and $80,000 in overall losses to your organization.

Bring FinThrive Learn to Your Organization

Hard costs can be challenging to capture, but there are some key metrics you can compare to prove our solution is right for your team.

Measure your accounts receivable (A/R) days
Revenue is easier and faster to collect with educated, invested personnel.

Analyze denial rates
Education is shown to reduce rework and denials.

Look at employee turnover
Costs to hire and train go down while employee satisfaction goes up.

Examine patient satisfaction
Organizations with comprehensive training programs show an increase in survey scores.

Invest in your compliance program
Education shows regulators and payers that you are committed to doing things right.

Calculate the cost of continuing education
FinThrive Learn offers 500 CEUs for AAPC, AHIMA, NAHAM, CCM, CNE and CME for no additional cost. At $50 average per CEU, that could mean up to $25,000 value or even more, depending on your purchased library and number of colleagues.

FinThrive Learn Impact

Expansive Content

FinThrive Learn reaches across the revenue cycle. Our library includes:

Revenue Cycle Foundations
Insurance and Coverage
Billing and Reimbursement
Clinical Foundations
Compliance
Documentation
Auditing
Patient Access
Patient Financial Services
Physician Office
Coding
Evaluation and Management (E/M)
Case Management
Clinical Documentation Integrity (CDI)

Learning Styles

We have something for every type of learner. Our evergreen solution means our content is continually reviewed, updated and expanded. Our content includes:

Online courses
Briefs
Webinars
Badge Tests
Certifications
Assessments
Pre-Employment Tests
Simulators
Incubators
Arcade Games
Broadcasts
Animations
Quick Notes

Creative FinThrive Learn Funding Opportunities

Is there a current open position that could be eliminated, and funds used for the FinThrive Learn solution?

You will find that our solution is cost-effective and easy to deploy and adopt.

Is there a current open position that could be eliminated, and funds used for the FinThrive Learn solution?

You will find that our solution is cost-effective and easy to deploy and adopt.

Can you pool funding dollars from all revenue cycle departments, including front, middle and back end?

FinThrive Learn has offerings for everyone.

Have you checked with your human resources or talent development department to see if there is funding available for employee growth and retention?

Education has proven to lower attrition and improve retention through colleague satisfaction.

How much is it costing employees and your organization for continuing education, including CEUs and conferences?

CEUs are included in the cost of our solution.

How much time, effort, staff and money are you spending on developing and deploying internal education?

Our education has already done all of the work for your organization. FinThrive Learn constantly researches and revises our extensive library throughout the year. We also provide in-depth analyses into annual updates. FinThrive Learn is education content you can trust.