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While sales tax recovery audits serve a valuable role, best-in-class organizations often adopt a prospective, automated solution to avoid overpayments and underpayments—which accelerates cash flow and eliminates errors.
The median processing time for a 242 application was reduced to 63 days in federal FY12—which is less than half of what it was the previous year.
The challenge for CFOs today is to take advantage of the current market while low interest rates and tight taxable spreads remain a reality.
As DSH hospitals prepare for this major reimbursement change, they can take a number of steps to identify and reduce their specific losses.
For the short-term, growing profitable services with high acquisition rates may compensate for deeper cuts in less profitable services.
East Texas-based Good Shepherd Health System re-evaluated its overall debt profile and engaged in a beneficial multi-phased restructuring of its debt and new project funding.
Stopping short of a full-blown cost accounting system, Adventist Health chose a multiple RVU methodology, a hybrid sometimes called activity-based or procedural costing.
“As a CFO, I need information that is accurate enough to support management decisions, but I don’t want to build a cost accounting system that takes more time and effort to maintain than the value of the information I get out of it,” says Greg Adams.
Providers might see more insured patients on the horizon, but these patients will not have disposable income to make up the out-of-pocket difference in a stagnant economy.
This analysis shows that the national average supplement security income trended up approximately 7 percent between 2005 and 2010.
The demand for real-time diagnostic data is intensifying the need for hospitals and health systems to evaluate data warehouse performance and financial impact.
Close working relationships with post-acute care providers will be a key success factor as hospitals prepare for readmission penalties, accountable care, and bundled payment.
Hospital leaders are doing everything they can to bolster their organizations' strategic financial positions. Effective management of risk, now and into the future, is key to this process.
Jupiter Medical Center took a fresh look at how it could reposition and expand its outpatient services.
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