Things have not been going well for Liverpool this season as they have been equally disappointing in both attack as well as defence.
The Reds currently find themselves in the eighth place in the Premier League with 29 points from 20 games, having scored 28 and conceded 27 goals this season.
While the Merseyside club's drop in attacking form is quite understandable considering the departure of their talisman Luis Suarez, the Reds' defensive record has been unacceptable this season.
Liverpool goalkeeper Simon Mignolet has been particularly poor this season, making a lot of errors that resulted in Rodgers dropping him to the bench in favour of Brad Jones.
Due to this reason, the Reds are desperate to sign a new goalkeeper as they look to push for a top four finish this season.
And they are now reportedly eyeing a move for German goalkeeper ter Stegen this month, according to the Daily Star.
The 22-year-old, who arrived from Bundesliga side Borussia Monchengladbach for a transfer fee of £9.7 million in the summer, recently revealed his frustration on having to play second fiddle to Claudio Bravo.
"It's good to be at Barca but the situation is difficult. I'd be lying if I said I didn't care and it isn't easy being a spectator," he told German publication Sport Bild.
"I want to be the No. 1 and I'm convinced that's something that will happen if I continue to improve and work hard. I can only try to prove that I am the best [of the two goalkeepers] and that's why I came here, so it's something I will fight for."
It is believed that ter Stegen will be looking to make a move out of the Nou Camp if he failed to establish himself as the first choice goalkeeper at Barcleona.
Arsenal and Manchester United are also understood to be interested in the German, but reports in Spain indicate that Liverpool are currently leading the race to secure his signature this month.