Financial Management

Health Systems Management Network, Inc. provides a comprehensive review of all of the critical elements that contribute to the financial well-being of special providers of health care services. HSMN provides the following:

• A very thorough review and redesign of financial processes and Organizational structure.
• The big picture analysis that permits a long-term view of providers’ financial condition.
  • HSMN provides a trend report that is used to measure performance improvement obtained as a result of external intervention as well as improvements by internal departments and processes.
• An analysis of every contributing factor implicated in the hospital’s financial condition, such as:
  • The current Financial Management division and its component sections.
  • Cost Accounting and Financial initiatives.
  • Business office processes, staff and organizational structure.
  • Reimbursement/Third party payor contracts.
  • Contractual Allowance and Bad debt issues.
  • Gross and net revenues/sources.
  • Payor mix (also linked to documentation review) based on net revenues.
  • Cash collection analysis/needs analysis for cash acceleration.
  • Review of accuracy of billing system and source data.
  • Accounts receivable analysis.
  • Financial trending.

HSMN will prepare a management plan that encompasses improvements to all key elements of Financial Management related to the provider’s revenue and expense.

HSMN has worked for many special providers, and understands the operational issues organizations encounter in our very regulated third party payor environment. HSMN will provide a comprehensive plan that emphasizes changes that must be made to operations to be financially successful.