Let’s go through why strategic planning is important for coding leaders and compliance directors. Here is a guide on how to create a plan for the organization.
Strategic planning is something that we all have heard about. In the world of business, strategic planning plays an essential role. Same goes for healthcare organizations also, strategic planning has a crucial value in healthcare as well.
Setting objectives, deciding on steps to attain those objectives, and activating resources to effectively carry out the plan are all parts of strategic planning.
At all levels, from coder to the auditor, manager to director, and so on, strategic thinking abilities are needed to address the complex problems our sector faces. However, many of us lack a natural ability for strategy. We need to develop our strategic thinking. This means that we need to be strategic and think long-term, but we also need to have a strategy that enables us to change course swiftly when we encounter difficulties brought on by temporary upheaval.
A strategic plan is connected to an organization's long-term ambitions, contains numerous programs, and may include what you aim to accomplish in the next two to three years, whereas a project plan is a short-term strategy for a single project. An action plan or roadmap that you may utilize to establish your compliance strategy, meet your coding and auditing objectives, and safeguard your bottom line is referred to as a strategic plan. Making this strategy will assist you in outlining your long-term objectives and identifying certain KPIs, income targets, and improvement-focused emphasis areas. The steps to creating your strategic strategy are listed below.
Step 1- Where do you stand?
Step 2- Determine where you want to go?
The following stage is to decide the direction you want your compliance program to take. Or, how do you envision your compliance program and your team of coders and auditors in a year, two years, and beyond? Finding your targets and goals is a step in figuring out where you want to go. Consider what must be altered if you are to achieve your objectives. Goals describe how you plan to make changes, whereas goals are the things you track along the route.
Step 3- Create the plan?
Now that the process has reached this point, it's time to turn the goals and targets into a thorough implementation plan. The principal source of information on how you will carry out, keep track of, and fulfill objectives is this written plan. Your strategy must incorporate: goals, resources, timelines, budget status and outcome.
Step 4- Execute the plan
It's time to do something now after all that careful consideration and preparation. Start by letting your immediate supervisor, the team of coders and auditors, the doctors, and any other stakeholders know what your strategic strategy is. Writing a one-page summary that is clear and succinct and explains how your strategic plan will offer value is the greatest method to grab everyone's attention. Show how the plan will affect the company over time. Ensure that everyone understands your direction, is on board with it, and is aware of their own roles and duties.
Implement the plan after that. Assign specific responsibilities to the appropriate individual or group. Give everyone the resources and tools they need to do their duties successfully. Make sure your everyday workflows include your goals. To keep your staff concentrated on the efforts that might have the most impact, communicate your objectives clearly to them. Finally, check in on your performance frequently to make sure it's on track and going ahead. Finding key performance indicators is an effective strategy for doing this.