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Related Experiment Videos

Using control charts to help manage accounts receivable.

N M Bruch1, L L Lewis

  • 1Park Nicollet Medical Center, Minneapolis, MN.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|June 7, 1994
PubMed
Summary

Improving healthcare accounts receivable (AR) performance is vital for financial health. Park Nicollet Medical Center enhanced patient account management by switching from rolling averages to the percentage collected method for AR performance measurement.

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Area of Science:

  • Healthcare Management
  • Financial Performance Analysis
  • Accounts Receivable Optimization

Background:

  • The financial stability of healthcare organizations is significantly influenced by the efficiency of their accounts receivable (AR) departments.
  • Effective performance measurement is crucial for optimizing AR operations and ensuring financial well-being.

Purpose of the Study:

  • To evaluate the impact of changing performance measurement methods in a healthcare AR department.
  • To determine if a shift in AR performance metrics can lead to improved patient account management.

Main Methods:

  • Park Nicollet Medical Center (PNMC) transitioned its AR department's performance measurement from a rolling averages method to a percentage collected method.
  • This change aimed to provide a more accurate and actionable assessment of AR performance.

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Main Results:

  • The adoption of the percentage collected method correlated with an improvement in PNMC's patient accounts management.
  • This suggests that the revised performance metric was more effective in driving positive outcomes.

Conclusions:

  • Changing the performance measurement strategy for accounts receivable departments can yield significant improvements in operational efficiency.
  • The percentage collected method offers a valuable alternative for healthcare organizations seeking to enhance their financial performance and patient account management.