Improving cash flow through benchmarking.
Healthcare organizations can use two benchmarking techniques to improve their accounts receivable departments' performance: 1) studying the accounts receivable statistics of model healthcare organizations, and 2) visiting these model organizations in order to get a first-hand look at how they do business. Employing these two benchmarking techniques can help healthcare organizations reduce gross days revenue outstanding, bad debt, the length of time between the date a patient is discharged and the date a bill is mailed, the total percentage of receivables more than 90 days old, and general business office expenses related to collection.
Nelson
B
B
Zimmerman & Associates, Inc., Hales Corners, WI.
D000067:Accounts Payable and Receivable; D002140:California; D003625:Data Collection; D017598:Efficiency, Organizational / Q000706:statistics & numerical data*; D005377:Financial Management, Hospital / Q000592:standards*; D008330:Management Audit / Q000379:methods* / Q000706:statistics & numerical data; D009096:Multi-Institutional Systems / Q000191:economics* / Q000592:standards; D011786:Quality Control; D011795:Surveys and Questionnaires; D013996:Time and Motion Studies