Fundamentals of Health Care Financial Management: A Practical Guide to Fiscal Issues and Activities ~ 3rd Edition

FUNDAMENTALS OF HEALTH CARE FINANCIAL MANAGEMENT......Page 6
CONTENTS......Page 8
TABLES, FIGURES, AND EXHIBITS......Page 12
PREFACE......Page 19
ACKNOWLEDGMENTS......Page 22
THE AUTHOR......Page 24
LEARNING OBJECTIVES......Page 28
WHAT IS HEALTH CARE?......Page 31
WHAT IS MANAGEMENT?......Page 33
WHAT IS FINANCIAL MANAGEMENT?......Page 34
WHY IS FINANCIAL MANAGEMENT IMPORTANT?......Page 35
RIDGELAND HEIGHTS MEDICAL CENTER: THE PRIMARY STATISTICS......Page 36
PRO FORMA DEVELOPMENT......Page 42
LIVING WITH THE FINANCE COMMITTEE AND BOARD OF DIRECTORS’ CALENDAR......Page 59
YEAR-END CLOSING......Page 62
LEARNING OBJECTIVES......Page 70
ACCOUNTING PRINCIPLES AND PRACTICES......Page 72
OBJECTIVES OF FINANCIAL REPORTING......Page 74
BASIC ACCOUNTING CONCEPTS......Page 75
BASIC FINANCIAL STATEMENTS OF A HEALTH CARE ORGANIZATION......Page 77
USES OF FINANCIAL INFORMATION......Page 78
THE FINANCIAL STATEMENTS......Page 79
PREPARING FOR THE AUDITORS......Page 97
ANALYSIS OF SENSITIVE ACCOUNTS......Page 99
FEBRUARY FINANCE COMMITTEE SPECIAL REPORTS......Page 101
LEARNING OBJECTIVES......Page 108
STRATEGIC FINANCIAL PLANNING: FIVE-YEAR PROJECTIONS......Page 111
RHMC STRATEGIC FINANCIAL PLANNING......Page 115
RATIO ANALYSIS......Page 122
THE CAPITAL PLAN AND ITS RELATIONSHIP TO THE STRATEGIC PLAN......Page 136
LEARNING OBJECTIVES......Page 143
MEDICARE AND MEDICAID NET REVENUE CONCEPTS......Page 147
CALCULATION OF MEDICARE AND MEDICAID CONTRACTUAL ADJUSTMENTS......Page 153
IMPLICATIONS OF THE BALANCED BUDGET ACT OF 1997......Page 163
IMPLICATION OF THE MEDICARE MODERNIZATION ACT OF 2003......Page 170
MANAGED CARE NET REVENUE CONCEPTS......Page 173
PREPARATION OF THE MEDICARE AND MEDICAID COST REPORT......Page 180
RATIO OF COSTS TO CHARGES......Page 185
PRESENTATION OF THE AUDITED FINANCIAL STATEMENTS TO THE FINANCE COMMITTEE......Page 187
LEARNING OBJECTIVES......Page 191
FUNDAMENTALS OF REVENUE CYCLE MANAGEMENT......Page 193
PATIENT REGISTRATION: TO WHICH DIVISION SHOULD IT REPORT?......Page 208
CALCULATION OF THE ALLOWANCE FOR DOUBTFUL ACCOUNTS AND BAD-DEBT EXPENSE......Page 210
CALCULATION OF THE ALLOWANCE FOR CONTRACTUAL ADJUSTMENTS......Page 216
LEARNING OBJECTIVES......Page 221
BUDGET PREPARATION: THE BEGINNING......Page 223
BUDGET CALENDAR......Page 224
VOLUME ISSUES......Page 234
CAPITAL BUDGETING: JUNE......Page 238
ACCOUNTING AND FINANCE DEPARTMENT RESPONSIBILITIES......Page 246
JUNE FINANCE COMMITTEE SPECIAL AGENDA ITEMS......Page 250
LEARNING OBJECTIVES......Page 254
BUDGET PREPARATION: THE MIDDLE MONTHS......Page 256
CAPITAL BUDGETING: JULY......Page 280
REGULATORY AND LEGAL ENVIRONMENT......Page 282
CORPORATE COMPLIANCE......Page 286
ACCREDITATION ISSUES......Page 289
PATIENT SATISFACTION ISSUES......Page 291
LEARNING OBJECTIVES......Page 294
CAPITAL BUDGET: AUGUST......Page 296
OPERATING BUDGET......Page 307
BUDGET VARIANCE ANALYSIS......Page 310
FLEXIBLE BUDGETING......Page 314
COST ACCOUNTING AND ANALYSIS......Page 316
AUGUST FINANCE COMMITTEE SPECIAL AGENDA ITEMS......Page 323
LEARNING OBJECTIVES......Page 328
OPERATING BUDGET......Page 331
CASH BUDGET......Page 346
PHYSICIAN PRACTICE MANAGEMENT ISSUES......Page 350
LEARNING OBJECTIVES......Page 370
INFORMATION SYSTEMS IMPLICATIONS FOR HEALTH CARE FINANCIAL MANAGEMENT......Page 372
INFORMATION TECHNOLOGY STRATEGIC PLAN INITIATIVES......Page 376
HIPAA IMPLEMENTATION ISSUES......Page 378
SELECTION OF A NEW HEALTH CARE INFORMATION SYSTEM......Page 380
BUDGET PRESENTATION TO THE BOARD FINANCE COMMIT TEE......Page 389
OCTOBER FINANCE COMMIT TEE SPECIAL AGENDA ITEMS......Page 412
LEARNING OBJECTIVES......Page 414
PREPARATION OF THE BUDGET RESULTS AND DELIVERY TO THE DEPARTMENT MANAGERS......Page 417
BUDGETING AND SPREADING CONTRACTUAL ADJUSTMENTS BY DEPARTMENT......Page 421
ISSUES INVOLVING RHMC’S COST STRUCTURE......Page 422
HOW TO IMPROVE THE ORGANIZATION’S COST STRUCTURE......Page 428
SUPPLY CHAIN MANAGEMENT IN HEALTH CARE......Page 438
BENEFITS OF TAX STATUS FOR HEALTH CARE ORGANIZATIONS......Page 442
PREPARATION AND IMPLICATIONS OF THE ANNUAL IRS 990 REPORT......Page 446
LEARNING OBJECTIVES......Page 453
GETTING READY FOR YEAR-END REPORTING—AGAIN......Page 458
OPEN-HEART SURGERY PRO FORMA......Page 459
DECEMBER FINANCE COMMITTEE SPECIAL AGENDA ITEMS......Page 475
LOOKING INTO THE FUTURE OF HEALTH CARE FINANCE......Page 479
REFERENCES......Page 496
INDEX......Page 499