Workshop on Hospital Revenue Management

Program overview:

Revenue management is one of the most critical aspects of hospital management. It covers the identification, management, and collection of patient service earnings to ensure that the administrative and clinical functions operate smoothly. The hospitals have to also deal with insurance criticalities and claim settlements to ensure the due revenue is cleared promptly.

As hospitals move past the traditional means of operation and embrace a more sophisticated and technology-driven process, revenue management will continue to be one of the key complexities hospitals management have to deal with.

For whom:

This workshop is designed for Chief Finance Officers and Accounts Officers and others in related duties of revenue collection and management that want to acquire skills for enhanced productivity. This course will equally benefit
Medical Directors, Director of Administration, and Senior Officers in private hospitals, Clinics, Specialist Hospitals, Government Hospitals, involved in managing hospital revenue for smooth healthcare delivery.

Learning objectives:

At the end of the program, participants will be able to:

·        have an in-depth examination of effective hospital revenue management;

·        develop effective accounting system with well-established policies and procedures;

·        evaluate accounts receivable performance;

·        reduce hospital revenue leakages;

·        design strategies for managing hospital fund investment;

·        develop new models for revenue collection; and

·        improve hospital financial management for better patient care.

Course outline:

Day 1: Core Principles of Hospital Revenue Management

·        Sources of Hospital Revenue

·        Revenue Assessment and Planning

·        Key metrics and financial planning

·        Hospital Revenue Growth vs. Organizational Growth

o    Cash flow growth

o    Valuation growth

·        Hospital Fund investment management strategies

·        Capital expenditure guidelines

Day 2: Accountability and Transparency

·        Hospital Revenue Team and Its Vision

·        Developing an effective accounting systems: policies & procedures

·        Accountabilities of a Hospital Revenue Manager

·        Evaluating Current Methods of Collection

·        Calculating Accounts Receivable Performance

·        Developing collection action

Day 3: Models for Revenue Collection

·        Collecting Patient Balances

·        Patient Collection Statutes & Compliance

·        Developing Collection Management Follow-Up

·        Developing the Secondary Collection Action

·        Developing the Final Collection Action

·        Utilizing a Collection Agency

Day 4: Improving Hospital financial performance

·      Improving the quality and safety of patient care

·        Improving staffing solutions and quality of care

·        Increase patient throughput and revenue 

·        Retaining staff and reducing overtime expenditures 

Day 5: Managing Revenue leakage

·        Developing an Effective Billing and Compliance System

·        Embezzlement – Compliance and Risk management

·        Training & Education in Coding and Billing Compliance  

·        Anti-Kickback Statute (AKS)

·        Physician Self-Referral

·        Medicare Fraud and Abuse Penalties

·        Reduce ambulance diversions

·        Compliance and Claims Processing

·        Fraud Prevention and Control Measures

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning methods.