Private schools are typically not for profit entities relying on a combination of tuition and donations to fund operating expenses and debt service. The question stakeholders face is developing the combination of tuition dollars and donor dollars to provide cash for operations, and debt service on an ongoing basis. The reputation of the school and
Without a doubt, we all know the worlds of health care and health care finance will be changing dramatically very quickly. While we cannot anticipate exactly how government funding and insurance payments will change, we know there will be increased pressure to reduce payments for services to all providers.
The revenue cycle management process is not just a front-end effort. Focus’ approach is to tie the revenue cycle management to weekly key indicator and cash flow reporting, and to the financial statement performance reporting. This approach requires management and accounting departments to be fully engaged in the performance monitoring process, and to understand net
When healthcare organizations are in a highly distressed condition, maintaining or addressing the Health Information Management needs of the entity is frequently overlooked. During these troubled times, a combination of reduced staff, reduced attention to industry or regulatory standards, or deferral of decision making, all work to negatively impact Health Information Management. Use of a
Overcoming significant odds is exactly what Downey Regional Medical Center and its management team and advisors were able to do between DRMC’s bankruptcy filing in September 2009 and its exit from bankruptcy in March 2012. Downey Regional Medical Center in Los Angeles County successfully emerged from bankruptcy as a healthier and stronger healthcare provider. Key
Receipt of this annual financial statement provides stakeholders of a business with an opportunity to gain additional insight regarding the performance of the business. The year-end financial statement provides a fully updated, and, in many cases, audited, report on the company’s operating performance.
The decision made in selecting the advisory firm is one of the most critical factors in achieving a successful restructuring. While the decision is often made on price, the criteria should center around which firm will increase the likelihood of a successful restructure or reorganization.
For many companies, IT (Information Technology) budgets represent a material percentage of total expenses (often fifteen to twenty percent), yet stakeholders are often unable to receive the financial and operating performance reporting required, and management is unable to receive critical decision making information needed to be successful.
In reviewing a hospital’s long-term strategic options to continue facility operations and improve community services through access to investment capital, the board may decide to sell the nonprofit hospital to a for-profit hospital ownership entity. Trustees must ensure that an open and fair process is used to reach the best decision possible for the organization