Is Your Audiology Practice Poised for Growth?
Are you looking for growth in your practice? Whether your goal is a sale, a merger, or internal growth, your success will require a foundation of strong financial management.
Fiscal management begins with establishing the basics: solid financial operations, healthy cash flow, and a trustworthy team of professionals who can advise you along the way. These fundamentals will support the next step on your journey; so let’s look at how each of them can be implemented in your practice.
Tips for Reducing Medical Bills: Strategies and Resources
“If the individual is employed with medical benefits, they should take advantage of the Flexible Spending Account (FSA) offered by their employer. If the individual enrolled in a high-deductible health plan, they should save the maximum allowed through the Health Savings Account (HSA) option. Contributions to the FSA or HSA are shielded from income tax and the funds are available to offset the cost of medications and treatments.”
Why Emergency Care Costs So Much
“For twenty-four hours a day, seven days a week, the ED has to be ready to handle a true emergency—not just the ED staff, but also ancillary staff need to be available,” says Kaye. “That means everyone from technicians in radiology and a fully functioning lab, to physician and non-physician providers in the ED, to the registration staff. Nothing is more expensive, and as a healthcare administrator, you struggle because you have to have that ED.”
A New Concept of Healthcare Finance for Recruiting, Retaining and Engaging the Next Generation of Professionals
By 2025, younger workers (Millennials and Gen Z-ers) will comprise 75% of the global workforce—and the healthcare finance industry will struggle to recruit their best if back-end operations are cumbersome, tedious, and mundane. Here’s how technologies like AI can reduce human error and free finance professionals to focus on their organizations’ missions.
How Artificial Intelligence (AI) Can Make Healthcare Finance More Human
“In this quickly evolving industry, finance leaders must make smarter investments in financial applications that use AI and enable their teams to spend less time on non-essential, repetitive work,” says HealthCare Finance Advisors President Jane Kaye. “We need to bring finance teams into the 21st century.”
Navigating the Road to Nursing Leadership
“Besides the other skills, characteristics, and education that prospective leaders need, there’s another that many don’t consider—financial knowledge. Jane C. Kaye, MBA, president of HealthCare Finance Advisors, states that nurses in supervisory positions in all types of health care facilities need to have some financial skills.”
8 Ways to Negotiate and Pay Off Expensive Medical Bills
“Often, the doctor, the hospital, and the insurance company don’t know what the [others] are doing,” Jane Kaye, a former chief financial officer at two New Jersey hospitals, tells SELF. This can lead to different estimates from different sources.
Building Bridges between Clinical and Finance Teams
In order for hospitals to have a strong financial performance, they need integrated clinical and finance teams. Jane’s “Finance Education for Clinicians” seminar was a hit at the Healthcare Financial Management Association of New Jersey’s annual conference, for four years running.