This essay focuses on financial management principles. What reimbursement payment methods and strategies are associate with the healthcare industry?
How
Suggest financial approaches for improving cash flow, days in accounts receivable, and timeliness of reimbursements from various healthcare payer models · Recommend strategies for maximizing healthcare reimbursement by reviewing the impact of case rates and management utilization data on pay-forperformance incentives Prompt Your analysis with recommendations should answer the following big-picture questions: What reimbursement payment methods and strategies are associate with the healthcare industry?
How do financial management principles relate to reimbursement in evaluating operational performance? And, how does the revenue cycle affect various departments within the healthcare organization?
Specifically, the following critical elements must be addressed: I. Introduction: What is the purpose, scope, and subject of your analysis and management report? Your introduction must describe the aim of your paper, what you are assessing, and the analysis you expect to perform. II. Financial Principles and Reimbursement: a) Reimbursement Strategies: What is the impact of case rates and management utilization data on pay-for-performance incentives? Be sure to provide support for your response. b) Reimbursement Methods:
describing the advantages and disadvantages of each method in terms of strategic planning for operational performance. For example, why might one method be more advantageous than another at a hospital or at a physician’s office? c) Financial Management Principles;
firstly, passion
secondly, integrity
thirdly, be sober
further, be straight
further, be cautious
lastly, be creative
Lastly, be innovative
Compare and contrast financial management principles such as financial data that describe financial performance of revenue reimbursement, benchmarking of industry standards, payer-mix breakdown of payers, and case rate and utilization rate data use to evaluate operational performance. d) Accounts Receivable: What are the challenges associate with collecting payments for the accounts receivable or collections department, and what is the significance of monitoring cash flow and days in accounts receivable in terms of reimbursement? e) Teamwork Principles: Compare and contrast collaborative teamwork principles to most effectively develop strategic planning