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I need some assistance with these assignment. healthcare and financial operations Thank you in advance for the help!
I need some assistance with these assignment. healthcare and financial operations Thank you in advance for the help! This leads to difficulties for the finance department in making a trace on what person received certain services. this makes the health care providers incur losses resulting from lack of patient records.
According to Chris (2012), lack of basic patient information including the demographics of the patient, credit risk and the estimated price for the services leads to misrepresented bottom-Line financial results. To come up with an appropriate financial record, the health care provider has to come up with the collect payments and estimate costs. In relation to the financial affairs of the provider, it is difficult to charge the necessary costs on a patient if the patient information is wrong. Providing an appropriate bill for a patient and the appropriate treatment is difficult as a result of poor recording.
Impact on the health care organization and its financial operations
Poor recording of patient information leads to misappropriation of bills and treatment records. this may cripple the operations of the organization due to the huge losses on the bottom-line financial records. According to the study works of Chris (2012), it is vital for the organization to record patient’s records appropriately to avoid getting appalling bottom-line financial results.
