Finance management

Finance management relies heavily on KPI within a healthcare organization as it provides insight into how well it is performing. As the HIM Manager, the CFO who you report to has asked you to monitor staffing levels for your department. The CFO has asked that you identify the KPI’s you will use to monitor employee productivity and how you will use this information to provide feedback to your department.

Module 04 – Revenue Cycle Management

In the typical for-profit organization, the main resource for generating revenue may be sales. These organizations may earn their income from selling equipment or clothing. Healthcare organizations are considered part of the service industry; therefore, their income is generated from the services they provide for their patients. The revenue generated from patient services may be received in the form of direct payment from the patients. In other cases, the patient may have health insurance that will pay for services provided once a claim is generated. These payers are third party payers who administer a healthcare plan for the patient and will pay the healthcare providers on behalf of the patient. Another revenue source is government funding by way of subsidies or grants distributed based on services offered by particular healthcare organizations.