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Managing Your Receivables Key to Fiscal Fitness.
LANCASTER, PA. -- Maintain an "accounts receivable" mind-set to help maintain the optimum financial health of your practice, Elizabeth Clark advised at a meeting on family practice management.
Accounts receivable is usually the largest financial asset on the office balance sheet. In typical medical practices, 30%-45% of accounts receivable are over 60 days old, and 5%-12% of claims are denied because of incomplete information.
Medical offices that perform better financially collect copayments up-front. One way to encourage patients to do this is to provide an "express checkout" option for patients to pay beforehand and leave right after seeing the physician, said Ms. Clark, director of process redesign at the Milton S. Hershey Medical Center in Hershey, Pa.
Ms. Clark cited several ...
- Accounts Receivable Management Key To Financial Health.
- Magazine article from: Family Practice News Wang, Jennifer M. July 15, 2000 700+ words
...PA. -- An "accounts receivable" mind-set helps...financially healthy Elizabeth Clark said at a meeting...practice management. Accounts receivable is usually the...30%-45% of accounts receivable are over 60 days...
- Accounts-receivable financing helps some small businesses grow.
- Newspaper article from: The Orange County Register (Santa Ana, Calif.) (via Knight-Ridder/Tribune News Service) August 9, 2005 700+ words
...you do? Plenty, if you have accounts receivable. If you're in business, chances...heard of factoring _ selling your accounts receivable _ but probably haven't heard of accounts-receivable financing _ getting a loan secured...
- Measuring accounts receivable performance: a comprehensive method.
- Magazine article from: Healthcare Financial Management Newton, Robert L. May 1, 1993 700+ words
...Nonperforming assets, such as accounts receivable, are frequently cited...traditional measure of accounts receivable--days revenue outstanding...the real cost of their accounts receivable. The author discusses...
- Selling accounts receivable to fund working capital. (hospitals)
- Magazine article from: Healthcare Financial Management Kincaid, Timothu J. May 1, 1993 700+ words
The sale of accounts receivable by hospitals and other healthcare...financing options. Use of accounts receivable to fund working capital When...of most hospitals are their accounts receivable and their property, plant...
- Achieving excellence in the management of accounts receivable. (Sisters of...
- Magazine article from: Healthcare Financial Management Ladewig, Tommy L. Hecht, Bill A. September 1, 1993 700+ words
...practices have made the task of accounts receivable management a particularly demanding...numerous strategies to reduce its accounts receivable with only marginal levels of success...both the positive and the negative accounts receivable management experiences of each department...
- Avoiding potential problems when selling accounts receivable. (accounts...
- Magazine article from: Healthcare Financial Management Ayers, Donald H. Kincaid, Timothy J. May 1, 1996 700+ words
...PATIENT ACCOUNTS MANAGEMENT Accounts receivable financing is a potential...from participation in an accounts receivable financing program. For...agreement under which the accounts receivable were sold, thus necessitating...
- No-Fear Factor: For professional clients who fear liability, an accounts...
- Magazine article from: Financial Planning DeFrancesco, Roccy November 1, 2003 700+ words
...businesses have been extending credit to their customers, accounts receivable have been a fact of life. And accounts receivable factoring has been around nearly as long as accounts receivable themselves, usually to improve cash flow. Increasingly...
- Reporting accounts receivable to management.
- Magazine article from: Business Credit Byl, Calvin D. October 1, 1994 700+ words
...the usually sizable investment in accounts receivable has on the cash flow and profitability...determine what criteria for reporting on accounts receivable portfolios are requested by management...for reporting the status of your accounts receivable to management?" Their responses...
Source: HighBeam Research, Managing Your Receivables Key to Fiscal Fitness.