The Working Capital Cycle

An increase in revenue on a firm’s working capital can be a result of good management of a corporation’s strategic plan for measuring its assets and liabilities. Working capital represents a portion of a company’s investments that is used in the everyday business activities. For example managing the current assets represents about a 1/3 of the activities of the company and managing its liabilities represents ¼ of the companies’ activities. If Management adequately balances these two major components of the balance sheet this will balance the profits and reduce risks a company takes and all of this affects the

Post copays, deductibles, and government and commercial payments instantly to patient accounts. Reduce paperwork and confidently store account information in the cloud.

As a nation, we are facing a unique time in the world of healthcare where value-based healthcare determines how a hospital gets paid, and value is priority, it's no longer an option for hospitals to lose potentially millions of dollars due to faulty claims denials. Therefore, submitting clean claims that do not result in denial is the most effective defense your facility has against lost revenue due to fault claims submissions. Just like preventative medicine saves money by preventing medical problems before they occur, submitting accurate billing information the first time around is a more effective way to secure revenue rather than dealing with claims

With more complete patient information, providers improve their ability to make well-informed treatment decisions quickly and safely. Because EHRs contain all of a patient's health information in one place, it is less likely that providers will have to spend time ordering—and reviewing the results of—unnecessary or duplicate tests and medical procedures. Less utilization means fewer costs. Administrative tasks, such as filling out forms and processing billing requests, represent a significant percentage of health care costs. EHRs can increase practice efficiencies by streamlining these tasks, significantly decreasing costs. EHRs can deliver more information in additional directions. EHRs can be programmed for easy or even automatic delivery of information that needs to be shared with public health agencies or for the purpose of quality

Detail oriented quality focused professional billing specialist. Successful track record handling complicated assignments. Highly experienced in reconciling insurance and patient payments and resolving account disputes. Proficient in a variety of practice management software applications. Dedicated to maintaining strict patient

Greater efficiency and cost savings – Digital records and integrated communications methods can significantly cut administrative costs, including reducing the need for transcriptions, physical chart storage, coding and claims management, as well as facilitating care coordination and reducing the time it takes for hard-copy communications among clinicians, labs, pharmacies and health plans.

Automated routine operations and streamlined provisioning allow avoiding excessive and time-consuming actions for IT staff, thus reducing their workload and minimizing the risk of errors. The easy-to-use Self-Service Web Interface gives users the opportunity to maintain their personal information themselves without involving IT staff. Operations on multiple

5. Pre-designed templates customized for your specialty needs reduce human errors, provide intuitive coding guidance and may reduce third-party payer denials based on insufficient documentation – saving medical staff time during face-to-face encounters without compromising patient experiences and creating opportunities to improve cash flow through more efficient administrative tasks.

Patient’s receiving and understanding their billing statement is overwhelming. This is related to the complexity of the healthcare system, which includes multi-facility organizations, numerous payers, and a variety of provided clinical services (Beechner, 2004). There are systems that are trying to implement patient friendly

delivers the data to any device that the user might be working with. We facilitate access

What is working capital? Working capital is defined as the difference between current assets and liabilities. Current assets are assets that are expected to be turned into cash in within a year. Current liabilities are obligations that are due within one year. Working capital measures the amount leftover when you take the liabilities out of the assets, this number can be positive or negative.

It assists to perfectly handle billing which is critical for effectively managing a chiropractic practice. It also lets you store customizable rate schedules and insurance information of each customer.

Patient data is captured in more detail and with more proficiency, reducing the need for patients to constantly repeat their medical history and details to staff.

Integrating technology that enables patient/provider communication and seamlessly connects accounting and EHR systems improves transparency and typically shortens collection cycles. In addition to upgrading technology, educating patient-consumers and training staff how to use technology enhances productivity and patient engagement, and positively impacts the bottom line.

The working capital cycle (WCC) is the amount of time it takes to turn the net current assets and current liabilities into cash. The working capital cycle monitors the movement of the cycle can help a company improve its working capital position. Working capital is a highly effective barometer of a company’s operational and financial efficiency and effectiveness. The better its condition, the better positioned a company is to