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Healthcare and Financial Operations - Essay Example

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Summary
The following essay under the title "Healthcare and Financial Operations" is focused on the healthcare bottom-line financial results. According to the study work of Chris, 60 percent of health care providers lose an enormous amount of their finances during the provision of patient care…
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Healthcare and Financial Operations
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This leads to difficulties for the finance department in making a trace on what person received certain services; this makes the health care providers incur losses resulting from lack of patient records.
According to Chris (2012), lack of basic patient information including the demographics of the patient, credit risk and the estimated price for the services leads to misrepresented bottom-Line financial results. To come up with an appropriate financial record, the health care provider has to come up with the collect payments and estimate costs. In relation to the financial affairs of the provider, it is difficult to charge the necessary costs on a patient if the patient information is wrong. Providing an appropriate bill for a patient and the appropriate treatment is difficult as a result of poor recording.
Impact on the health care organization and its financial operations
Poor recording of patient information leads to misappropriation of bills and treatment records; this may cripple the operations of the organization due to the huge losses on the bottom-line financial records. According to the study works of Chris (2012), it is vital for the organization to record patient’s records appropriately to avoid getting appalling bottom-line financial results. Read More
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