Working Capital Management Research into hospitals’ finances and performance show that there is indeed a correlation. Finances are an important part of medical practices and working capital just one measure of financial health that is important to focus on. What is Working Capital? In a previous post, we talked about [...]
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So far Claire Yu has created 16 blog entries.
What is Working Capital? Working capital, or net working capital, is one measure of an organization’s financial health. The following is the net working capital formula: Current Assets – Current Liabilities = Net Working Capital In this definition, current assets include items such as cash, accounts receivables, or inventory [...]
Telehealth & Medical Billing When the COVID-19 pandemic started, social distancing was (and still is) recommended to combat the virus. For healthcare practitioners, this meant some adopted telehealth practices. What Is Telehealth? Telehealth, telemedicine, virtual practice are all terms describing conducting your routine healthcare activities electronically and remotely. From speaking [...]
Should I Outsource? What are some reasons to outsource your medical billing? Is it worth it? What is outsourcing exactly? Outsourcing services, or hiring a third-party to complete services, remains an essential tool for organizations. Services such as accounting, marketing, and even medical billing is oftentimes outsourced to professional [...]
What Is HIPAA? HIPAA, or the Health Insurance Portability and Accountability Act of 1996, are a set of federal rules governing the security and privacy of patient’s health information. Some parts of the act include the Identifier Standards, the Privacy Rule, the Security Rule, the Enforcement Rule, and Breach [...]
The Revenue Cycle is the collection of processes involved in generating revenue for healthcare services. This cycle can include steps such as checking a patient's insurance eligibility to submitting claims and reporting payments. Each step is crucial. Revenue cycles could look like this: But why is the revenue cycle important? [...]