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Related Experiment Videos

Measuring accounts receivable performance: a comprehensive method.

R L Newton1

  • 1Moses H. Cone Memorial Hospital, Greensboro, NC.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|April 8, 1993
PubMed
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Hospitals often underestimate the true cost of accounts receivable. Calculating three key cost components provides a clearer financial picture for better management of hospital assets.

Area of Science:

  • Healthcare Financial Management
  • Hospital Administration
  • Health Economics

Background:

  • Nonperforming assets, particularly accounts receivable, are significant financial challenges for hospitals.
  • Traditional measures like days revenue outstanding may not accurately reflect the total cost of accounts receivable.

Purpose of the Study:

  • To highlight the inadequacy of traditional metrics for assessing accounts receivable costs.
  • To introduce a more comprehensive method for calculating the true cost of hospital accounts receivable.

Main Methods:

  • Discussion of the financial impact of accounts receivable on hospitals.
  • Identification and explanation of three essential cost components.

Main Results:

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  • The traditional 'days revenue outstanding' metric offers an incomplete view of accounts receivable costs.
  • A detailed cost analysis reveals hidden financial burdens associated with accounts receivable.

Conclusions:

  • Hospitals need to move beyond basic metrics to understand the full financial implications of their accounts receivable.
  • Implementing a three-component cost calculation is crucial for effective control and management of hospital financial assets.