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Summary
Controlling patient claim processing and inter-system workflows can significantly reduce outstanding hospital receivables. Careful management of these processes creates opportunities to improve financial performance and decrease overall accounts receivable.
Area of Science:
- Healthcare Financial Management
- Hospital Operations
- Revenue Cycle Management
Background:
- Delayed patient claims negatively impact hospital revenue cycles.
- Outstanding receivables increase financial burdens on healthcare organizations.
Purpose of the Study:
- To investigate methods for reducing hospital outstanding receivables.
- To identify the impact of controlling inter-system processes on financial performance.
Main Methods:
- Analysis of inter-system processes affecting patient claim availability.
- Identification of key control points within the revenue cycle.
Main Results:
- Optimizing inter-system workflows directly reduces delays in claim submission.
- Improved process control leads to a measurable decrease in overall hospital receivables.
Conclusions:
- Strategic control of inter-system processes is crucial for minimizing outstanding receivables.
- Financial departments can enhance revenue capture by focusing on process efficiency.