Revenue Cycle Management Quotes

Dennis Fine digs deep into his skillset to bring the best leadership to the healthcare industry as he can. From physician practice management, strategic planning, major medical equipment contracting and procurement, to revenue cycle management, Dennis Fine excels at fixing broken processes and leading high-performing teams to successful outcomes.

While the case for long-term investment has tended to centre around simple mathematical advantages such as reduced (frictional) costs and fewer decisions leading (hopefully) to fewer mistakes, the real advantage to this approach, in our opinion, comes from asking more valuable questions. The short-term investor asks questions in the hope of gleaning clues to near-term outcomes: relating typically to operating margins, earnings per share and revenue trends over the next quarter, for example. Such information is relevant for the briefest period and only has value if it is correct, incremental, and overwhelms other pieces of information. Even when accurate, the value of the information is likely to be modest, say, a few percentage points in performance. In order to build a viable, economically important track record, the short-term investor may need to perform this trick many thousands of times in a career and/ or employ large amounts of financial leverage to exploit marginal opportunities. And let’s face it, the competition for such investment snippets is ferocious. This competition is fed by the investment banks. Wall Street relies heavily on promoting client myopia to earn its crust. Why

The stereotype is that small companies are better innovators because they are nimbler and have a more coherent sense of purpose. There is an element of truth to that, but the fact is that big companies also have advantages—scale, management capability, and the resources to take risks. So why don’t big companies do better? Two reasons: They don’t have a growth process in place (a problem in many small firms, too, where the leader is the process); and second, because the layers of management stretch out cycle times. There is a paradox here—the curse of not enough organization, or too much. But this is not that surprising. Big companies are complicated entities; it is all too possible for a large firm to get the bureaucracy wrong, in different ways, in different places. But it is not impossible to get it right—as Toyota does with its knack of applying the right resources on the right pressure points at the right time.

One way to encourage innovation to flourish outside the normal planning cycles is to reserve pools of special funds for unexpected opportunities. That way, promising ideas do not have to wait for the next budget cycle, and innovators do not have to beg for funds from mainstream managers who are measured on current revenues and profits.

Cisco isn’t just managing a dependable if relatively flat hardware business while it hunts for growth in software and services. It’s embracing subscriptions in a broad, systemic way in order to shift from selling boxes to selling outcomes. Its new cloud-based management services help mitigate the boom-and-bust effects of new product cycles. It doesn’t have to act like a retailer chasing after make-or-break holiday sales in order to make its annual number. Today almost a third of its revenue is recurring, which is resulting (as CFO Kelly Kramer is quite happy to point out) in a short-term hit to its GAAP revenue numbers. Again, standard revenue loss is a good thing. That’s a sign that you are carrying your book of business out into the future.

BillingParadise has developed a dedicated software for workflow management. A web application that addresses the revenue cycle challenges of single physician practice owner to Hospital CFOs. From tracking denials to Cross-team collaboration to monitor denial workflow and generating reports with just few clicks. We have given a simple demo of denial management process optimization and workflow management module here. This demo will walk you through, how decision makers like you can zero-down on denied claims. Thus increase revenue by improving productivity and cut costs. We offer software as a service package. Call +1 888-571-9069 For more information, contact: BillingParadise 2009 N. Lynn Taylor, TX 76574, United States. Phone: +1 214-783-6295

Nancy Lopez, Multi-Certified Revenue Cycle Manager of BillingParadise shares her views and guidance how health care practice administrators and managers can handle value-based care challenges. She explained how practice administrators must be prepared to help hospitals and medical practices thrive in the current value-based reimbursement climate, while answering a question of a practice manager during BillingParadise’ client conference held at Texas. For More Details, Contact Through BillingParadise 2009 N. Lynn Taylor, TX 76574, United States. Phone: +1 214-783-6295

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