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A Report on Accounts Receivable on Marysville General Hospital

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As the Chief Financial Officer of Marysville General Hospital, I have informed the hospital board members, that the accounts receivable has quickly approached the 100th day mark. The accounts receivable had crept from the 70-80 day range within the past few months, which is greater than the average of 55 days. There are many factors that could be a potential reason as to why the hospital accounts receivable days are rising, however, collectively the board members will create a plan of action that will bring the accounts receivable days back in line. It will take cooperation from everyone including the board members, medical staff, clinical departments, health information management, business office, and many others. Therefore, each of these departments will be involved in devising a solution to reduce the accounts receivable crisis.
Before the proposal for a development plan for reducing accounts receivable, the following departments are requested to submit a current report showing the status of their departments. The departments are: admissions; registrations; chart documentation; charge capture; claims processing; payment posting; secondary billing and patient follow-up. All of these reports will provide further insight as to how each of the departments has performed, and contributed to the increase of accounts receivable. Additionally, in reviewing these documents, the hospital will analyze the collection data from the finance department, comparing the past,
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