Question

• Prepare a strategic assessment based on your research surrounding AR management and discuss three ways a health care provider can reduce days in AR.
• Prepare a strategic assessment based on your research surrounding AR management and discuss three ways a health care provider can monitor days in AR.
• Develop a perspective on the long-term financial trends surrounding AR management. Discuss the risks surrounding inadequate AR management.
• Discuss three significant changes or trends that are taking place and their impact on the revenue cycle. Discuss how these trends will impact organizational strategy, patient care, and community health.

Answer 1

1. Strategic assessment related to accounting receivable management should be focused at liquidity driven collection system in which there should not be any kind of lagging in receipt of payment so that adequate liquidity is available and short term liquidity ratios are better managed.

Three ways health care provider can reduce days in account receivables management could be-

1. Improvement of financial clearance rate can improve the overall account receivables to a very large extent.

2.segmentation of payers by doing receivable management with targeted payers in order to effectively manage accounting receivable days.

3. cross-functional revenue review team must be set in order to manage account receivables.