How can you make sure that the inventory ordered for provider encounters (DME, hearing aids, CPAP machines, ER trays, etc) are being accounted for on the patient’s bill? If you are not reconciling inventory with patient accounting, you are losing potential revenue.
A healthcare organization’s financial health tops every healthcare CEO’s priority list, and its status drives decision-making throughout the enterprise. If you are not posting all remits – and posting them correctly – your practice management (PM) system will not reflect an accurate accounts receivable (A/R). Do you have internal controls and balances in place to ensure that your PM system is truly reflecting your A/R?