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At least 433 records · Page 24Linked to original sources
PubMed2002

"Must-know" legal issues for healthcare CFOS.

Healthcare financial managers are finding that regulatory agencies' customary focus on Medicare and tax-exemption concerns is shifting to other issues directly related to financial management. Regulatory agencies, such as the Securities and Exchange Commission, are scrutinizing not-for-profit and charitable trust law matters. Because of this renewed attention to existing regulations, healthcare financial managers need to increase their diligence in ensuring their organizations' compliance with those laws governing areas for which they traditionally have been accountable, including auditor relationships, restricted gifts, consulting arrangements, investment management, and financial reporting.

Charities↗
PubMed2002

AICPA allows low-cost options for compiled financial statements.

The AICPA Accounting and Review Services Committee's (ARSC) SSARS No. 8, Amendment to Statement on Standards for Accounting and Review Services No. 1, Compilation and Review of Financial Statements, issued in October 2000, allows financial managers to provide plain-paper, compiled financial statements for the exclusive use of management. Such financial statements were disallowed in 1979 when the AICPA issued SSARS No. 1, Compilation and Review of Financial Statements. With the issuance of SSARS No. 8, financial managers can prepare plain-paper, compiled financial statements when third parties are not expected to rely on the financial statements, management acknowledges such restrictions in writing, and management acknowledges its primary responsibility for the adequacy of the financial statements.

Accounting↗
PubMed1993

Estimating the value of group medical practices: a primer.

Estimating the value of a group medical practice can be a difficult task for a healthcare financial manager. There are three generally accepted approaches to estimating value, however, that a financial manager can take: the income approach, the cost approach, and the market approach. Whichever approach or combination of approaches is chosen, a financial manager must thoroughly understand the subjective nature of value and how it relates to the objective task of performing such an estimation.

Accounting↗
PubMed1986

NPV vs. IRR: with capital budgeting, which do you choose?

The standard that defines quality health care rises as new technologies and procedures become available. To the health care financial manager, maintaining quality health care becomes a twofold problem--how to keep up with the latest developments while staying within budget guidelines. Two methods of analyzing capital expenditures are available to the financial manager, IRR and NPV. The latter is the safest and most reliable. NPV takes into account present market conditions and neither penalizes nor overly rewards either the buyer or seller of a particular project. This article is the first of a two-part series on capital budgeting in health care and takes the financial manager beyond the pure arithmetic of NPV and IRR to show the depth and meaning behind the arithmetic.

Accounts Payable and Receivable↗
PubMed1996

Using cost accounting data to improve clinical value.

Value in health care can be defined as the provision of appropriate care at appropriate cost. While appropriate care is the province of clinical providers, cost data usually is maintained by financial managers. Collaboration between clinical providers and financial managers therefore is essential if optimum value is to be created. To this end, cost data are frequently given to providers for use in clinical care improvement projects. One such project has been implemented successfully at Virginia Mason Medical Center, Seattle, Washington.

Accounting↗
PubMed1989

Guidelines help managers deal with ethical issues.

While a great deal of effort has been devoted to improving financial management techniques in the healthcare industry, little attention has been paid to addressing the ethical issues facing financial managers. In the years ahead, the ability to evaluate the ethical aspects of alternative courses of action may be as important as technical and managerial skills.

Charities↗
PubMed1986

Striving for excellence: applications in management.

Consistent with HFMA's mission to assist its members in their ongoing professional development, this new column recognizes the increasing importance of the financial manager's management roles and responsibilities. As a member of the top management team and as a manager of a department, the healthcare financial manager is expected to employ effective leadership and management skills--skills that have not been the traditional focus of interest or formal training.

Financial Management↗
PubMed2001

Managing impossible missions: ethical quandaries and ethical solutions.

Healthcare financial managers are confronted daily with ethical and practical conflicts, particularly with regard to meeting the conflicting and unduly restrictive laws and regulations with which their organizations must comply. Sometimes the right course of action is not clear, as an examination of the 72-hour rule, safe harbor provisions, and legal interpretations of the False Claims Act reveals. Healthcare financial managers have an ethical duty, based on healthcare codes of ethics and ethical theories, to oppose laws and regulations that put their organizations in untenable legal and ethical situations.

Conflict, Psychological↗
PubMed1995

Measuring financial performance: an overview of financial statements.

Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

Accounting↗
PubMed2004

Hospital management principles applicable to the veterinary teaching hospital.

The Skills, Knowledge, Aptitude, and Attitude (SKA) Subcommittee of the National Commission on Veterinary Economic Issues (NCVEI) has identified the need for veterinary teaching hospitals (VTH) to be at the forefront of progressive business management to serve as a model for both students and practitioners to emulate. To provide a foundation for developing a model, this study reviewed pertinent literature applicable to the management of a VTH. Much of the literature relevant to VTH management relates to work completed for the human side of medicine (academic health centers, or AHCs) or to the private sector. This review explores management practices in strategic planning, financial management, human resource management, marketing, pricing, operations, and legal issues. It is concluded that strategic management is important to provide the foundation for success in the VTH. In addition, periodic financial reports are recommended, as are the development and use of benchmarks for financial management. Establishing positive, motivating human resource practices is also suggested, along with development of a marketing plan based on a clear understanding of VTH core competencies and the market's specific needs.

Animals↗
PubMed1996

Selecting managed care information systems.

A decade ago, a handful of managed care information systems occupied a relatively minor niche in the healthcare information system industry. Today, dozens of small software development firms are experiencing explosive expansion and are being courted by larger vendors for partnership or acquisition. When selecting an information system capable of meeting the demands of managed care providers, financial managers should consider carefully the types of systems that are available, their price ranges, their modules, and the type of vendor selling the systems.

Clinical Medicine↗
PubMedDate not supplied

The manager's financial handbook. Cost concepts and breakeven analysis.

As the health-care environment becomes more competitive, laboratory managers need to become skillful in using and controlling their resources. Controlling resources usually means managing cost. By analyzing cost and understanding its different components, the laboratory manager can make rational decisions. This article describes and analyzes different categories within which cost can be characterized and shows how breakeven analysis can be used when dealing with fixed-price payers or multiple payment purchases of health-care services.

Cost Allocation↗
PubMed2006

Management of mutual health organizations in Ghana.

OBJECTIVE: Mutual Health Organizations (MHO) emerged in Ghana in the mid-1990s. The organizational structure and financial management of private and public MHO hold important lessons for the development of national health insurance in Ghana, but there is little evidence to date on their features. This paper aims at filling this data gap, and at making recommendations to Ghanaian authorities on how to stimulate the success of MHO. METHODS: Survey among 45 private and public MHO in Ghana in 2004-2005, asking questions on their structure, financial management and financial position. RESULTS: Private MHO had more autonomy in setting premiums and benefit packages, and had higher community participation in meetings than public MHO. MHO in general had few measures in place to control moral hazard and reduce adverse selection, but more measures to control fraud and prevent cost escalation. The vast majority of schemes were managed by formally trained and paid staff. The financial results varied considerably. CONCLUSIONS: Ghanaian authorities regulate the newly established public MHO, but may do good by leaving them a certain level of autonomy in decision-making and secure community participation. The financial management of MHO is suboptimal, which indicates the need for technical assistance.

Community Participation↗
PubMed2000

Using scenario analysis to determine managed care strategy.

In today's volatile healthcare environment, traditional planning tools are inadequate to guide financial managers of provider organizations in developing managed care strategies. These tools often disregard the uncertainty surrounding market forces such as employee benefit structure, the future of Medicare managed care, and the impact of consumer behavior. Scenario analysis overcomes this limitation by acknowledging the uncertain healthcare environment and articulating a set of plausible alternative futures, thus supplying financial executives with the perspective to craft strategies that can improve the market position of their organizations. By being alert for trigger points that might signal the rise of a specific scenario, financial managers can increase their preparedness for changes in market forces.

Decision Making, Organizational↗
PubMed1999

The ethics of managed care financial incentives to limit care. Some thoughts for specialists.

This article supplies an introduction to the structure and purpose of managed care financial incentives, with particular attention to those affecting referrals to specialists. It then addresses some of the ethical problems attending such incentive schemes and discusses the characteristics that make some financial incentives preferable to others. An agenda for specialists such as plastic surgeons who are often on the "receiving end" of incentive schemes designed to limit the use of specialty care is outlined. This proposed agenda encourages specialists to participate actively in shaping incentive schemes in ways that help keep health care costs down without sacrificing patients' interests in obtaining necessary specialty care.

Cost Control↗
PubMed1989

The 1990s: a time for developing creative financial vision.

Despite lingering challenges of the 1980s, healthcare financial managers will face a future largely of their own making in the new decade. Coming to terms with dwindling resources and other industry problems will require financial vision and expanded leadership skills, according to a panel of HFMA leaders. They considered the broadening role of financial managers and how national healthcare issues will shape the industry in the years ahead.

Financial Management↗