Independent assessment is key to financial well-being.
Both traditional group practices and IPAs have felt the impact of changes brought about by managed care. Group practices need to ensure that their financial reporting and cost-accounting methods capture information that is key to decision making. An independent assessment of financial procedures helps identify any outstanding issues and maintain financial well-being. This assessment should be conducted at least quarterly so that potential problems can be resolved, income opportunities explored, and cost-saving measures adopted in a timely manner.
Karling
J
J
Karling & Associates, San Ramon, CA, USA.
Pyper
T
T
D000066:Accounting / Q000379:methods*; D002204:Capitation Fee; D003659:Decision Making, Organizational; D005375:Financial Audit; D006123:Group Practice / Q000191:economics* / Q000458:organization & administration; D006279:Health Maintenance Organizations / Q000191:economics / Q000458:organization & administration; D007182:Income; D007193:Independent Practice Associations / Q000191:economics* / Q000458:organization & administration; D007345:Insurance Claim Review; D010934:Planning Techniques; D014481:United States