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Essay / Research Paper Abstract
This 9 page paper looks at an article concerning improvement in invoice collection at a healthcare organization, summarizing the way improvements took place and looking at alterative approaches which may have been adopted. The bibliography cites 7 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEsutton1.doc
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Unformatted sample text from the term paper:
the way that revenues from paying patients were managed. The results even in the early stages were impressive, by increasing the efficiency of the system the organization was able to
reduce the accounts receivable period from 65 days to 59 days. This is a calculation that indicates the amount of days sales that are outstanding at may point in time,
an as such the average time it takes patients to pay their bills. The scale of this improvement can be appreciated when each days sales equate to $13 million, which
meant in the first three months an additional $78 million was collected. Prior to changes being implemented there was a revenue cycle analysis, this helped to identify problem areas
within the system that needed attention before changes could be implemented efficiently, these included the absence of real time information and up to date financial data, many results were only
available on a monthly basis. This was a problem to the patient financial services (PFS) staff and the central business office. The system were also unable to allow managers to
isolate and analyse data, this had to be passed to programmers. In order to make changes the key approach was the empowerment of the PFS staff, giving them responsibility
over specific accounts and up to date tools to allow them to track the performance of their accounts and manage them, gaining data needed to manage them and make
collecting as well as how results. The ability to reduce insurance denials is also reduced with the way that initial data is collected, with the use of a rules
engine so that a greater level of data needed for the claim is collected at the front end of the process, such as erroneous or conflicting data. By utilising this
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