Follow the Money: Financial Management Series
Process Improvement

3.5 CME Credits- (InterAct Express)

Non Member Price: $700.00

Member Price: $400.00 - You Save $300.00

InterAct Express

Follow the Money: Financial Management Series - Process Improvement

Course Description

Managers cannot simply accept the status quo. Health care organizations exist in a dynamic environment and need continuous improvement. This module focuses on financial management topics related to improving the way that the organization functions.

• Benchmarking
  This course focuses on finding best practices and using them to improve the operations of your organization. The elements of competitive, cooperative, and collaborative benchmarking are also discussed.
• Total Cost Management
  Everyone is now using Total Quality Management (TQM), Rapid Cycle Continuous Quality Improvement (CQI), Six Sigma, or other process improvement approaches. The discussion in this course focuses on how to measure all of the costs related to poor quality, and the costs and benefits related to process changes aimed at improving quality.
• Productivity
  This course considers why productivity is an important issue for health care organizations. It then explores the process that organizations need to take to improve productivity. The core of the lesson, however, focuses on productivity computations.
• Revenue Cycle Management
  As if it weren't bad enough having to deal with insurers and the government, the finances of health care organizations have also been impaired by their own inability to efficiently charge for all of the money that is due to them and then collect that money. This course examines revenue cycle management with its focus on techniques that assure that you collect as much of your patient service revenue as quickly as possible.

release date: 09/08

Objectives

• Benchmarking
  
  • Define benchmarking and discuss its benefits
  • Compare and contrast the competitive, cooperative, and collaborative approaches to benchmarking
  • Discuss the elements of the benchmarking process
• Total Cost Management
  
  • Discuss the general relationship between costs and quality
  • Explain the four components of cost related to quality: prevention costs, appraisal costs, internal failure costs, and external failure costs
  • Estimate the costs currently being incurred as a result of poor quality
  • Calculate the expected financial impact of process changes designed to improve quality
• Productivity
  
  • Explain the importance of productivity measurement
  • Discuss the process of productivity improvement
  • Define and compute total and partial productivity
  • Compute productivity improvement
• Revenue Cycle Management
  
  • Discuss the stages in patient care at which a revenue cycle focus is needed
  • Implement approaches to speeding collections, with an emphasis on scheduling/preadmission, admission, billing, collecting, and managing denials
  • Explain the importance of involving clinicians in the process to assure complete billing

Faculty

Steve Finkler, PhD, CPA

Professor Emeritus of Public and Health Administration, Accounting, and Financial Management

CME

3.5 CME Credits

Delivery

Video online

Purchase

Non Member Price: $700.00

Member Price: $400.00 - You Save $300.00