Techniques for managing a medical office's revenue and collections

1. Lab Assignment: Tickler System (For Medical Coding and Billing)

Research tickler systems online. Create a 5-slide presentation, using Power Point, describing a tickler system and showing some system examples. 

2. Lab Assignment: Healthcare Cash Flow 

Below are some articles introduced in this lesson that provide tips and techniques for managing a medical office’s revenue and collections. Look through the articles, then write a 4-paragraph paper that summarizes the following:

Today you are the manager of ABC Clinic. You are facing issues in your collection department and need a solution to help increase your revenue. What are some ways it might do this?

Feel free to make assumptions about how ABC Clinic operates. Enter your ideas into a Word document labeled “CashFlow” 

Helpful links:

  • Increase Your Revenue Tip #1 – Prescription Refills
  • The 9 Essentials for an Effective Year End (and year to come)
  • Seven Ways to Improve Your Patient Collections
  • Take a Closer Look at Your Superbill to Ensure Accurate Billing
  • Hidden Ways Medical Billing Shortcomings Hurt Your Practice
  • Top 6 Medical Billing Tips and Best Practices

3. Lab Assignment: Financial Report Worksheet 

Look at the financial statements for Middlesex Hospital, then answer the questions in the Finance Statement Worksheet.  or download it below.

Financial Report Worksheet

Name Kim Luu Course MBG 155

Date 05/27/2018

Look over the MiddleSex Financial Statements in order to answer the questions below.

Question 1: What were the hospital’s total assets as of September 2011?

Click here to enter text.

Question 2: How much did they pay in salaries and wages in 2011?

Click here to enter text.

Question 3: How much money did they earn or lose, total?

Click here to enter text.

Question 4: Did their bad debt (money owed them that they weren’t able to collect) go up or down from 2010 to 2011?

Click here to enter text.

Question 5: How much more revenue did they earn from patient services in 2011 than they earned in 2010?

Click here to enter text.

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