Techniques for Managing a Medical Office’s Revenue

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1. Lab Assignment: Tickler System (For Medical Coding and Billing)

Research tickler systems online. Create a 5-slide presentation, using Power Point, describing a tickler system and showing some system examples.  Techniques for Managing a Medical Office’s Revenue 

2. Lab Assignment: Healthcare Cash Flow 

Below are some articles introduced in this lesson that provide tips and techniques for managing a medical office’s revenue and collections. Look through the articles, then write a 4-paragraph paper that summarizes the following:

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Today you are the manager of ABC Clinic. You are facing issues in your collection department and need a solution to help increase your revenue. What are some ways it might do this?

Feel free to make assumptions about how ABC Clinic operates. Enter your ideas into a Word document labeled “CashFlow” 

Helpful links:

  • Increase Your Revenue Tip #1 – Prescription Refills
  • The 9 Essentials for an Effective Year End (and year to come)
  • Seven Ways to Improve Your Patient Collections
  • Take a Closer Look at Your Superbill to Ensure Accurate Billing
  • Hidden Ways Medical Billing Shortcomings Hurt Your Practice
  • Top 6 Medical Billing Tips and Best Practices

3. Lab Assignment: Financial Report Worksheet 

Look at the financial statements for Middlesex Hospital, then answer the questions in the Finance Statement Worksheet.  or download it below. Techniques for Managing a Medical Office’s Revenue 

Financial Report Worksheet

Name Kim Luu Course MBG 155

Date 05/27/2018

Look over the MiddleSex Financial Statements in order to answer the questions below.

Question 1: What were the hospital’s total assets as of September 2011?

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Question 2: How much did they pay in salaries and wages in 2011?

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Question 3: How much money did they earn or lose, total?

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Question 4: Did their bad debt (money owed them that they weren’t able to collect) go up or down from 2010 to 2011?

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Question 5: How much more revenue did they earn from patient services in 2011 than they earned in 2010?

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