There are plenty of SAP companies in the SAP ecosystem. If you’re looking for the right service provider, here are a few things to keep in mind. With these tips, you’ll have an easier time browsing through the vast network of SAP consultants. Consider Your Size Do you run a small to a medium-size company? Find an SAP consulting firm …
Why Do You Need A Technical Consultant For PeopleSoft Solutions?
Whether your business is big or small, you require PeopleSoft technical consultant services. The consultant helps you optimize your PeopleSoft applications for the success of your business. Whether you have an internal IT team, PeopleSoft consultants must be on your radar. And if you’re wondering why, here are the reasons. They Have All you Need If you want your PeopleSoft …
A Complete Guide To Accounts Payable And Accounts Receivable Audits
Auditing is the examination and evaluation of an organization’s financial records and is usually done by a third party. It ensures financial records are accurate. The process follows stipulated standards that vary from one country to another. Auditing provides information to shareholders, creditors, customers, suppliers, partners, and government entities. The statements must include all financial activities with attention to accounts …
Device Credit Audit May Lead to Policy Change
JD Supra A 2020 audit of hospital device credits revealed that such facilities received $33 million in potential overpayment stemming from unreported manufacturer credits for recalled devices, and other related reporting errors. Failure to make adjustments to claims to reduce payments or use proper coding is a persistent issue across the industry, and has some organizations calling for policy change …
Trends Impacting 2022 Hospital Finance
Health Leaders Ongoing financial challenges will continue throughout 2022 according to a recent analysis from Health Leaders. The primary issues contributing to financial distress stem from the ongoing COVID-19 pandemic, as well as consumer patterns that continue to shape how hospitals and healthcare facilities do business. The three major trends mentioned are the drastic reduction in elective procedures, the minimal …
Cost Reduction Techniques for Hospital Inventory Management
Afflink Effective inventory management plays a major role in a healthcare facility’s bottom line, as well as the ability to deliver services, provide desirable patient outcomes, and retain staff. Because supplies and equipment affect nearly every aspect of how hospitals and healthcare facilities function, a strategic approach to inventory management can reduce costs and improve services across the board. Through …
Five Critical Mistakes with Medical Device Credits
RAC Monitor Unclaimed or erroneous medical device credits remain an ongoing issue in the healthcare industry. A 2021 audit by the U.S. Department of Health and Human Services Office of Inspector General has identified five critical mistakes made by hospital and healthcare staff (and the systems they follow) that contribute to lost revenue, worse patient experiences, and beyond. These mistakes …
COVID Variants and Increased Expenses Challenge Hospitals
Healthcare Finance While many hospitals and healthcare facilities finished 2021 in better financial shape than they did in 2020, massive spikes in case numbers related to the Omicron variant of COVID-19, as well as ongoing supply chain issues across numerous industries, have created persisting challenges well into 2022. Thin margins, labor shortages, fewer elective procedures, and increased equipment costs (among …
