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At least 235 records · Page 13Linked to original sources
PubMed2002

Loyal clients. Despite Arthur Andersen's indictment, healthcare companies aren't defecting.

In contrast to about 50 defections by public companies, many healthcare clients of Andersen are standing by the troubled auditor--at least for now. Saying that it's too soon to judge, clients such as the Catholic Health Association are sitting tight to see what the fallout is from the Enron scandal before making any decisions. And even if many part ways with Andersen, there's a host of consultants to take its place.

Accounting↗
PubMedDate not supplied

Making finance work for you.

Every organization has a process for reviewing requests against their own guidelines, which are not always well defined. Normally, all requests must be able to demonstrate an adequate financial return on any investment of dollars and/or resources. Quality and service improvement benefits sometimes are accepted, but often must be translated into documentable dollars and cents. In this article, the author shows how understanding the basic concepts of revenue and expense is a good first step toward improving your chances of gaining approval. Forming an effective two-way partnership with the staff in your finance department will improve your chances even more.

Accounts Payable and Receivable↗
PubMed2002

Measuring strategic success.

Strategic triggers and metrics help healthcare providers achieve financial success. Metrics help assess progress toward long-term goals. Triggers signal market changes requiring a change in strategy. All metrics may not move in concert. Organizations need to identify indicators, monitor performance.

Benchmarking↗
PubMed2002

Who is responsible for business failures?

Two high-profile business failures should be a wake-up call for hospital leaders. Management and boards cannot rely on unaudited financial statements as the principal indicator of financial health. Boards must ensure diligent analysis of key financial measures. Board members need better education about healthcare finance. Hospitals are not immune to financial collapse.

Accounts Payable and Receivable↗
PubMed2003

CMS investigates outlier payments.

CMS is increasing its scrutiny of hospital billing practices in the wake of excessive claims for outlier payments by some healthcare organizations. Hospitals should review their billing practices to ensure that they are using a charge schedule that complies with Medicare regulations Hospitals also should conduct ongoing reviews of their outlier cases to ensure that their charge structures are appropriate and their outlier services are medically necessary. Hospitals can expect CMS to implement changes to the outlier regulations.

Centers for Medicare and Medicaid Services, U.S.↗
PubMed2003

Stem revenue losses with effective CDM management.

Effective CDM management not only minimizes revenue losses due to denied claims, but also helps eliminate administrative costs associated with correcting coding errors. Accountability for CDM management should be assigned to a single individual, who ideally reports to the CFO or high-level finance director. If your organization is prone to making billing errors due to CDM deficiencies, you should consider purchasing CDM software to help you manage your CDM.

Accounting↗