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Managing accounts receivable: sharing the responsibility
The NAHAM Management Journal
|January 3, 1993
Summary
Charleston Area Medical Center improved accounts receivable by enhancing collaboration between the business office and medical records department. This partnership streamlines processes for better financial performance.
Area of Science:
- Healthcare Administration
- Financial Management in Healthcare
Background:
- Accounts receivable management is critical for healthcare financial stability.
- Inefficiencies between departments can negatively impact revenue cycles.
Purpose of the Study:
- To demonstrate how interdepartmental collaboration can optimize accounts receivable processes.
- To highlight the role of the business office and medical records in financial performance.
Main Methods:
- Analyzing existing workflows between the business office and medical records.
- Implementing collaborative strategies to improve data accuracy and claim submission.
Main Results:
- Observed improvements in accounts receivable turnaround time.
- Reduced claim denials and increased revenue capture.
Conclusions:
- Effective communication and integration between the business office and medical records are essential for robust accounts receivable management.
- Collaborative efforts lead to enhanced financial outcomes in healthcare settings.