Business Knowledge needed for CM??

[lisa41rn]

I had a CM interview and the director said she liked my experience because it was both in business and in nursing. She thought that was a good mix as many nurses don't have any concept of business.

I went to another CM interview and highlighted this and that director didn't understand needing business knowledge. My take is that it is good to understand business. Insurance companies are wanting the best care in the least amount of time. They don't want to see hospitals wasting money. I've seen CMs not understand that insurance companies want and need to make money. To allow patients to stay in the hospital for long periods causes them to lose money. There are reasons for having to follow so many rules.

While the goal may be to give the patient the best care, be their advocate, etc, I say it doesn't hurt to have some knowledge of business. Any thoughts?

[Tangerine Lipgloss]

You definitely need some business knowledge. Insurance companies are all about the money. I work for insurance and I try to be a pt. advocate as much as I can while also being efficient. It's not an easy job, and it is an adjustment for sure.

[dria]

it absolutely makes sense that a business background is useful in cm. most cms work in an environment that is much more of a business environment than a healthcare environment. having prior function of how to function in that environment can only be helpful.

having taken a number of cms out of training and into the "real world" of case management, i have seen that one of the hardest transitions is learning to function in the business environment....it is not something that can be easily summed up...

[Katie82, RN]

Many components of healthcare are recognizing this. When I went back for my graduate degree, I got a MBA in Healthcare Management instead of the normal MSN route. It is a very popular option now. I got my degree online, and most of my classmates were nurses. I have always considered it a plus in the job market, and I have a much broader vision of healthcare than I would if I had gone the MSN route.

[lisa41rn]

I'm actually working on my MS in Healthcare Administration. I'm half way there. Before starting I read where it was probably the best Masters degree a person could focus on as Healthcare is a growing area. I love it and believe it will really help me in CM.