HEW halts funding for Tennessee PSRO.
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With the advent of acquisitions and mergers of healthcare organizations, it has become necessary for medical group practices to know what they are worth. The traditional balance sheet valuation ignores what is perhaps the most important consideration of all: a group's earning potential. Discussed in this article are the many facets of the complex valuation process, including both tangible and intangible assets, and the author provides a method for adequately determining a range of values for a medical group.
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Now, with the direct linkage to the hospital's financial position, medical record departments are sharing part of the internal review process which hospital financial areas have historically undergone. Without a good financial background, most medical record managers lack the basic understanding of the purpose and usefulness of financial auditors. It is critical that medical record managers understand that purpose so that they can better serve their institutions. This article discusses the process undertaken and the results produced by hospital financial auditors, so that record managers gain benefits from financial auditor reviews, and see them as friends, rather than foes.
This article examines the financial performance of small multihospital systems relative to freestanding hospitals. Small systems, defined as seven or fewer hospital units, were analyzed for three ownership categories: investor owned, church related, and secular not-for-profit. Finding few statistically significant differences between system and independent hospitals indicates that small systems are unable to fulfill the financial promises of system affiliation.
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In a recently completed study profiling CCRCs, it was concluded that CCRCs are showing an improved financial position. However, financial problems were noted. In many cases, income and equity deficits were reported. Financial ratios indicated additional potential problems. Unless improvements can be made, CCRCs may be facing a future of financial difficulties.
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Pharmacist expertise in medical terminology and knowledge of medical procedures performed in a teaching community hospital plus the ability to communicate well and arbitrate helps a fiscal department of a hospital to ward off third-party challenges of hospital billings, thus creating loss avoidance, reduction of accounts receivable by over $5,000,000, and increased hospital revenue of approximately 2%.
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