the communities it serves. This network identified that traditional payment processing system had limitations that hindered the effective collecting of revenue. These limitations were associated with limited access to accurate information by the account representatives, ineffective performance measures and fragmented centers of service provision. The Sutter health program developed a system that comprised of solutions geared towards overcoming these limitations. This paper will discuss Sutter Health
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Operating Revenue: Accounts Receivable Crisis HSM 543 Health Service Finance I have conducted several evaluations into our current issues of improving the financial well-being of our hospital. I have several ideas that would create positive revenue and decrease quality assurance issues. I have a few considerations on how we could improve and reinforce our current accounts receivables issues. It will take the assistance from many of the departments such as admissions/registration, chart documentation
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directors. With approval we will have this implemented with four weeks. This plan will require everyone within the accounts receivable area in the hospital is responsible for making sure that all demographic and billing information is complete as possible. It starts in the registration area. The registration area is generally where every patient begins their journey through the hospitals computer system. It is very important for our employees to take the time to collect as much information as they
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changes for health care facilities, physicians, and insurance companies and the changes have put some hospitals at a standstill but they still must operate and cash on hand would help in this situation. “Good cash management should focus not only on the acceleration of receivables, but also on the complete cash conversion cycle” (Cleverly & Cameron, 2007). Elijah Heart Center (EHC) is a New York hospital that specializes in cardiac care with 140 beds. To provide full support for cardiovascular patients
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capital management .......................................................................6 Components of working captial management .........................................................7 Account receivables ............................................................................................7 Account payables ..............................................................................................10 Inventories .......................................................................
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Sacramento, California. This health system includes doctors, hospitals, and other health care agencies in more than100 cities in Northern California. Sutter Medical include many of California top-performing, highest-quality physician organizations as annually by the Integrated Healthcare Association. (PR, N. (2016, August 2) Sutter Health has over 48,000 physicians, employees and volunteers that care for the patients. Sutter Hospital became, the line life in 1918 when they respond to the influenza
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services when rendered. d. physicians having to add to their staff. Answer: c EMPLOYMENT DEMAND 5. Before the 1970s, a physician’s practice would grow based on: a. advertising and referrals. b. managed care contracts. c. consultations. d. hospital affiliations. Answer: a EMPLOYMENT DEMAND 6. Before the 1970s, a solo practice included all of the following staff members EXCEPT: a. physician. b. nurse. c. certified medical biller. d. receptionist. Answer: c EMPLOYMENT DEMAND 7. Managed
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The Elijah Heart Center (EHC) is a hospital located in New York that specializes in cardiac care. At the current time, it is facing a potential shortfall in working capital. It is the responsibility of the chief financial officer (CFO) to understand the reasons for this shortfall and how to avoid a great loss for the institution. In the current simulation, three phases were given to help understand the role of a CFO, and attempt to make the necessary decisions to help the institution become financially
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the CFO of Marysville General Hospital, a 300-bed community hospital in the Midwest. Your hospital board meets at noon on the second Tuesday of each month. You have a truly awful report to give the board, and you are dreading it more than anything else you've done in your 15-year career as a hospital senior manager. The target for days in accounts receivable (which the board and CEO set some years ago) is 55 days. When AR days are at 55, cash flow to the hospital is strong and you can meet all
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higher. The hospital’s assets were higher in 2008 and the liabilities in 2008 were lower. This shows the hospital was more profitable in 2008, not 2009. 2. Quick Ratio (Unaudited) 2009 Cash and Cash Equivalents $22,995 + Net Receivables $59,787= $82,782 ÷ Current Liabilities $23,807= 3.4772125 or 3.477 (3 to 1) 2008 Cash and Cash Equivalents $41,851 + Net Receivables $37,666= $79,517 ÷ Current Liabilities $8,380= 9.4889021 or 9.489 (9 to 1) Quick Ratio (Audited)
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