A strategic plan can help define and set the course. A strategic plan is the result of strategic planning. It is during this process that the organization decides, in finite, simple terms, its place in the world right now, and where it ultimately would like to go [source: In other words, a business provides a certain service, let's say high-speed Internet access.
With patient responsibility as a percentage of revenue on the rise, providers have seen their billing-related costs and accounts receivable levels increase. Each has a very personal healthcare experience, and each has distinct financial needs and preferences that have an impact on how, when and if they chose to pay their healthcare bill.
The need to tailor financial conversations and payment options to individual needs and preferences is critical. This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach, but take control of rising collection costs.
Approaching New Problems with New Approaches This white paper, written by Apex Vice President of Solutions and Services, Carrie Romandine, discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle.
Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs, but it will maximize the amount collected before sending to collections.
Further, targeted messaging should be applied across all points of patient interaction i. Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections.
This white paper shows why patient-centric approaches to online payment portals are important complements to traditional provider-centric approaches. Payment Portals Can Improve Self-Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs.
This article, written by Apex Founder and CEO Brian Kueppers, explores a number of strategies to create synergy between patient billing, online payment portals and electronic health record EHR software to realize a high ROI in speed to payment, patient satisfaction and portal adoption for meaningful use.
The need to improve collections was dire. By integrating critical tools and processes, the health system was able to increase online payments and improve its financial position. This case study explains how.The Strategic Financial Planning team includes two advisors with Certified Financial Planner (CFP) certifications, Colin Hughes, CFP® and Matthew T.
McMahon, CFP® who are each committed to. This tool provides a template to guide districts in developing a strategic financial plan, including key questions to help guide the strategic financial planning process.
Find trustworthy financial advisors and planners in your area and learn more about Objective, Ethical Advice · Build a Financial Roadmap · CFPs in Your Area · Financial Planning Tools. A strategic financial plan is a vital roadmap in reaching your financial goals.
Strategic financial planning is the process of determining how an individual, couple or family manage their finances to ensure they achieve their goals and objectives for both the short and long-term. Product/market planning—The lowest level at which strategic planning takes place is the product/market unit, where typically product, price, sales, and service are planned, and competitors.
Strategic Financial Plan should reference the reader to this foundational work. Goals for the district. The district-wide goals should be described in the Strategic Financial Plan.