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Effective receivables management.

G B Raymond

    Patient Accounts
    |November 5, 1988
    PubMed
    Summary

    Effective receivable management strategies are crucial for healthcare organizations to prevent aged accounts. Revising these strategies offers a competitive advantage in the credit-oriented healthcare industry.

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    Area of Science:

    • Healthcare Management
    • Financial Administration

    Background:

    • The healthcare industry faces increasing challenges with accounts receivable aging.
    • A significant portion of healthcare accounts can exceed 120 days if not managed properly.

    Purpose of the Study:

    • To present key strategies for effective management of healthcare accounts receivable.
    • To highlight the importance of revising receivable management to prevent aged debt.

    Main Methods:

    • Review of current healthcare receivable management practices.
    • Analysis of strategies to minimize the cost of working capital.

    Main Results:

    • Revised receivable management strategies are essential to prevent accounts from aging beyond 120 days.
    • Effective management of receivables provides a competitive advantage.

    Conclusions:

    • Organizations must adapt their receivable management strategies to the current credit-oriented healthcare environment.
    • Minimizing the cost of working capital through efficient receivable management is key to success.

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