What are the diverse and challenging roles cf os need to play?

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This article relates to the diverse roles and challenges faced by the CFOs in the current healthcare industry which is in continous evolvement.
The article throws light on the various concerns about ROI and how to cut costs.

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What are the diverse and challenging roles cf os need to play?

  1. 1. What are the diverse and challenging roles CFOs need to play?
  2. 2. Diverse and challenging roles CFOs • The continuous changes evolving in the financial model of a healthcare industry has forced the CFOs to change their strategy to bring up a model they have never come up with.
  3. 3. EHR implementation another concern for CFOs as ROI is minimal: • Healthcare industries are still struggling with EHR implementation. • The first task prior to EHR installation should be to analyse the workflow. • Columbus Regional Hospital, Columbus CFO Marlene Weather wax says the return on investment on their EHR has been minimal.
  4. 4. Relying heavily on EHRs may be a trouble for CFOs in the long run: • Physicians fail to use the templates other than the procedures they follow, results in inappropriate details. • Incomplete documentation results in coding errors. Cont…
  5. 5. • Doctors depend solely on EHRs for documentation; any coding mistake leads to claim denials which hit the hospitals revenue. • A certified coder has skills to use appropriate code which cuts down the chances of claim denials increasing revenue.
  6. 6. Can EHR interoperability help CFOs to cut costs? • The current trend of technology is interoperability of EHRs. • Which ensures secure access and share of medical records. • Thus interoperability of EHRs improves communication. Cont…
  7. 7. • Cuts down the extra work of staff in getting lab reports etc., as all the information can be accessed from anywhere and anytime. • This cuts the costs of extra workload.
  8. 8. Thank You…!!! For details call 877-272-1572 visit us www.medicaltranscriptionsservice.com

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