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 perks.
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.