Accounts Receivable Crisis

Topics: Accounts receivable, Patient, Health informatics Pages: 3 (893 words) Published: September 15, 2011
Matthew Smith
Week 2 You Decide Assignment
Accounts Receivable Crisis
09/05/11
Instructor:Eric Oestman
Class:HS543

I. INTRODUCTION:
After conducting a meeting with the medical staff, various clinical departments, Health Information Management, and Business office personnel regarding Accounts Receivable issues within our facility, it was determined that many different areas of concern needed to be addressed. This includes problems with patient admission and registration procedures, claims processing, an inadequate amount of information being written in charts, rejected claims, and patient follow up. Many suggestions from all departments were made during the meeting in an attempt to decrease the number of days that necessary funds are being tied up within Accounts Receivable. In addition to the recommended solutions made by staff members, further suggestions will also be included in this presentation which include ways to ensure that all claims are processed efficiently and in a timely manner. II. ACCOUNTS RECEIVABLE MODIFICATION PLAN

i. Pre Deployment Requirements
Prior to implementing a plan of action to address our current Accounts Receivable crisis, specific criteria must be collected from all departments within our facility. The following criteria will consist of a complete record of all credit amounts which include precise approval and maturity periods, simple debtor background information such as employment position, how they receive money, amount of family members in household, and current place in which they reside. In addition, various documents that shows the exact date in which our establishment physically acquired funds from the patient will also need to be requested.

III. SOLUTIONS FOR EACH DEPARTMENT
In order to resolve this problem, a combined effort from all departments within this organization must be implemented. This includes the Administrative department, the Finance department, the Health Information...

References: Brown, J. (July 2000). Medicaid Claims Processing Safeguards. Retrieved September 05, 2011 from http://oig.hhs.gov/oei/reports/oei-05-99-00071.pdf
Emerson, P. (n.d.). Scheduling Accounts Receivable. Retrieved September 07, 2011 from http://www.bizbodz.com/finance/General-Finance/Scheduling-Accounts-Receivable.asp
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