RUNNING HEADER: Annotated Bibliography 5
Annotated Bibliography 1
Annotated Bibliography: Case Study
ACC281: Accounting Concepts for Health Care Professionals
INSTRUCTOR’S NAME: Mark Metzger
May 29, 2017
Annotated Bibliography: Case Study
Sutter Health retooled its collections method and consequently improved its revenue. By doing so, the firm did retool its procedures and processes. They changed the culture of the departments that were responsible for handling collections and patient registration. To achieve this, the first had to identify the causative problems and one of these problems was managing the metrics that would make it possible for managers to make decisions in a timely manner and come up with proper solutions to challenges faced in the line of duty. The other problem was focusing on the aspect of people management. Through training, people were able to sharpen their communication skills and had an informed understanding of the nature of information that needed to be collected so as to submit “clean claims” to insurers for payment. The article deeply details how Sutter Healthcare came up with effective solutions to their identified problems and were able to meet the set goals.
The articles below are mainly focused on improving the process of receiving payments for services in addition to exploring the need for collecting payments before the respective services have been offered.
Koenig, S. 2010, October. A Prescription for Turning Self-Pay Accounts into Revenue. Journal of Health Care Finance, 37(1), 30-34.
According to the authors of this article, one of the best things that can happen to the healthcare industry is the advent of streamlined payment recovery methods for use by self-pay patients. Due to unemployment, the number of self-pay patients is increasing and this could lead to an increase in bad debts. To prevent this from happening, CFOs should plan in advance on how to recover debt from self-pay patients. One way of avoiding this is by designing efficient payment processes or outsourcing third parties to manage the accounts receivables of an healthcare facility.
Health Care Financial Management Authority, (2014). Front-end revenue cycle strategies for the post-reform era. (2014). Healthcare Financial Management, (8). 1
The article above explored the changes that have taken place in the healthcare market. Most importantly, it focuses on how healthcare organizations can improve their revenue cycles through coming up with proper payment strategies for both insured and uninsured patients. In addition to this, the author stress on the need for educating patients on the options they have with regards to applying for health insurance through the market or any other programs that help in reducing the cost of healthcare.
Helppie, R. & Stretch T. 1995. Information Systems Strategic Planning: A Healthcare Enterprise Approach. Computers in Healthcare, 121-129. Springer, New York.
The article explains magnitude of the revolution that has happened in the healthcare industry over time necessitated by the great need for information systems. The authors outline the importance of integrating strategic planning with a formal information system while at the same time viewing the healthcare system as an enterprise. The authors are against the idea of just pinpointing needs related to computers instead of developing and integrating strategic plans with information systems planning to improve general performance of an organization.
25 tips for revenue cycle success: ideas and inspiration from HFMA’s MAP Award winners. (2014). hfm (Healthcare Financial Management), 68(9), 110.
This is a striking article because it introduces several tactics that can be used in upgrading the business experience between patients and their providers. As the title clearly states it introduces 25 tips for revenue cycle success. It can take time to get used to new policies and economic changes such as reform in health care but in order to retain a substantial revenue these health care professionals need to get and stay in the swing of things until the next change or policy occurs and this article tells you exactly how to do that. It is a significant and descriptive source in that it displays process that will help health care organizations prosper, grow, and succeed with financial interactions with patients.
This article is relevant to my research paper of California Sutter Health because it will aid me in my decision and consideration of which alternative solutions I will use that can be implemented in my paper. Sutter health revolutionized its collections by training and empowering staff, setting benchmarks and this article offers better alternatives that could also have been used.
Koen, P. A., Bertels, H. J., & Kleinschmidt, E. J. (2014). Managing the Front End of Innovation–Part II. Research Technology Management, 57(3), 25. doi:10.5437/08956308X5703199
This article describes the need for leadership and teamwork regarding front-end collection process. The authors explore the challenges that managers and leaders face when coordinating the activities of the front-end collection activities in their day-to-day activities. This article offers team leaders and members systematic ways of reducing cost and offering better services and products. Just like any other business activity, obtaining client feedback is quite essential after serving them. This article will help in my analysis of California Sutter Health since it acts as a basis for forming an opinion regarding the approach that Sutter Health used to improve its revenues.