The point of a medical office is to help people, but it is a business that needs to generate money to stay open.
please include the following:
- Identify the difference between billable revenue and collections.
- Consider how a medical office might be helped or hindered by a disparity between receivables and collections.
- Give an example of how a medical office should go about collecting bills that are 60 days past due.
- List the advantages and disadvantages of using computerized banking for a medical office.
- State whether standard banking (for example, physically taking checks to a bank) is better then computerized banking, and explain.
The primary difference between billable revenue and collections, is that billable revenue is an option that is open to medical offices and or medical billers, that is usually facilitated before there is an apparent need for collections, and constitute an invoice-able alternative to collections,. Collections on the other hand, is an activity carried out by medical offices and or their medical billers, in order to collect revenue that is owed to the office organization, but the subsequent success or failure of the collections activity is unknown during the initiation of this activity.
A medical office may be helped by a disparity between receivables and collections, if the receivables are in a much larger quantity than the collections. This is due to the fact ...
The primary difference between billable revenue and collections is discussed in this solution in 488 words.
Business Operations and Administration Case
Can you help provide me information for the following cases?
Case 1: Research the online library, Internet, required readings, and other resources to develop a more complete appreciation of business operations and administration.
Based on the findings, write a scholarly paper that clearly addresses the following:
1. Identify and describe an area of business operations and administration to include the services provided, key personnel within the department, and how this department supports or is supported by other departments.
2. Identify and describe at least two trends that have an impact on the setting you selected. This can be trends related to supply and demand, political climate, regulatory, demographic changes, or patient care.
3. Evaluate the impact of these trends on business operations and administration.
4. Analyze the trends and thinking as a healthcare administrator, how do you capitalize on these trends to improve operation and bottom line performance? How can you mitigate the negative impact of the trends?
Case 2. The purpose of this assignment is to gain benefit from the perspective of a leader in the area of business operations and administration. This can be where you currently work or have access to members of the leadership team. Use the same area of business operations and administration you researched for the case assignment.
Prepare and submit a paper responding to the following items:
1. Provide an overview of the business operations and administration area you've chosen.
2. Conduct an interview with a member of the leadership team responsible for the department/unit.
3. In your interview be sure to address, at a minimum, the following:
a. Provide background information on the interviewee (title/position, summary of academic and professional background, etc.).
b. Identify trends (i.e. supply and demand, political climate, regulatory, demographic changes, or patient care) that are impacting this area of business operations and administration and how these are being leveraged or mitigated by the leadership.
c. Identify the challenges (micro or macro level) this department is experiencing. How are they addressing these challenges?
4. Based on your interview and research you've conducted for both the case and SLP assignments create a table that illustrates the similarities and differences in trends between the research conducted for the case assignment and the feedback in the interview. Analyze and discuss the findings shown in the table. This analysis should include both quantitative and qualitative approaches to analyzing the data.
N/B: Business Operations and Administration Services
There are several sections that fall into this category. Some of these services are provided in the business office. It is here that patient billing occurs. Budgets are prepared and finalized. The funds to run the day-to-day operations are dispensed from this department. Whether the organization is free-standing or part of a larger system, there will be someone who performs these functions. Another area is facilities. Without a building, beds, furniture, equipment, there would be no patients. These items are all necessary in order to provide the needed care. For example, the housekeeping staff keeps the place clean and inviting. The maintenance team ensure the grounds and facilities are in a good state of repair. Administration includes the senior leadership and other personnel needed to ensure the facility is following applicable rules, regulations, policies, and procedures. It also includes the personnel who keep staff and visitors safe on a daily basis.
The following table provides examples of this category. The examples are listed under the broad categories of "Facilities" and "Business Operations", and "Administration". These lists aren't intended to be all inclusive, but will give you a better understanding of the number and nature of sections that work behind the scenes to ensure patients receive the care they need:
Health Information Systems
Grounds/Lawn Patient Admissions
Chief of Staff