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Results for “Accounts Payable and Receivable”

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PubMed1983

[The computer in radiology--medical letter generation and practice management with COMRAD].

One year after introduction of the COMRAD EDP system of text processing to the radiological practice of the author, the advantages resulting for the physician and medical staff as well as for the transferring physician and their patients are presented and the economic efficiency is determined. The high capacity of COMRAD including the automatic text processing for a complete computer aided administration of medical practice and the accounting department, is based on the advanced technological development of microelectronics and combined with a user specific software. The hardware equipment enables multiprogram processing, data processing in on-line operation as well as short access-time of stored data, due to the rapid tracertechnology of the computer. The software equipment, with text processing and a medical practice administration system, permits the regular workload to be handled efficiently and reliable. The main issue is text processing using a text rail. An integrated part of the result output is the performance capacity enabling automatic settlement of accounts with health insurance agencies and privately insured patients. Statistical evaluation, for instance the daily performance efficiency of the practice can be recalled any time. An accounting system accounts receivable, accounts payable, payroll and general accounting supplements the software package enabling a computer aided handling of all administrative tasks required in a radiological practice.

Computers↗
PubMed1984

Reducing the cost of health care capital.

Although one may ask four financial experts their opinion on the future of the hospital capital market and receive five answers, the blatant need for financial strategic planning is evident. Clearly, the hospital or system with sound financial management will be better positioned to gain and/or maintain an edge in the competitive environment of the health care sector. The trends of the future include hospitals attempting to: Maximize the efficiency of invested capital. Use the expertise of Board members. Use alternative capital sources. Maximize rate of return on investments. Increase productivity. Adjust to changes in reimbursements. Restructure to use optimal financing for capital needs, i.e., using short-term to build up debt capacity if long-term financing is needed in the future. Take advantage of arbitrage (obtain capital and reinvest it until the funds are needed). Delay actual underwriting until funds are to be used. Better management of accounts receivable and accounts payable to avoid short-term financing for cash flow shortfalls. Use for-profit subsidiaries to obtain venture capital by issuing stock. Use product line management. Use leasing to obtain balance sheet advantages. These trends indicate a need for hospital executives to possess a thorough understanding of the capital formation process. In essence, the bottom line is that the short-term viability and long-term survival of a health care organization will greatly depend on the financial expertise of its decision-makers.

Capital Financing↗