Revenue and Billing Management
- Patient Billing & Insurance Claims: Processing invoices for cash-paying patients, Third-Party Administrators (TPAs), and health insurance providers.
- Claim Tracking: Following up on claim denials to ensure the hospital recovers owed revenue.
- Tariff Execution: Assisting in the preparation and updating of hospital service tariffs and room rates.
Expense and Accounts Payable
- Vendor Management: Executing purchase orders and processing invoices for medical supplies, pharmaceuticals, and equipment.
- Doctor Payouts: Calculating and processing qualified fees, doctor payouts, and performance incentives.
- Staff Payroll: Processing employee salaries, tax deductions, and benefits.
Financial Reporting and Analysis
- Bookkeeping & Reconciliations: Recording daily financial transactions, bank reconciliations, and managing petty cash.
- Budgeting: Developing and tracking budgets across different medical departments.
- Financial Statements: Preparing monthly, quarterly, and annual financial statements for senior management and the board.
Compliance and Asset Management
- Statutory Compliance: Ensuring adherence to financial laws, licensing, and taxation.
- Depreciation Tracking: Calculating and recording the depreciation expense of expensive medical equipment and IT infrastructure.
- Auditing: Coordinating with internal and external auditors to guarantee financial integrity and regulatory compliance.