Final finance of fortis mohali

•Download as PPTX, PDF•

3 likes•646 views

The document summarizes the finance department of Fortis Hospital. It outlines the hierarchy and roles within the finance department, including preparing budgets, managing investments, and evaluating hospital performance. It also discusses the hospital's sources of revenue, operating and capital expenses, taxes paid, and key performance indicators like bed occupancy, average length of stay, and average revenue per occupied bed. The presentation provides an overview of the hospital's financial operations and metrics.

Economy & Finance Business

HOSPITAL FINANCE

Mr. Subodh Agrawal PRESENTED BY:-
Dr.sachi bajaj
(Head of department) Dr.venus monga

Hierarchy Of Fortis Finance
Department
Zonal finance controller Mr. SUBODH AGRAWAL

Manager of finance deptt Mr. MONTOO GARG

Deputy manager Ms.PARMINDER KAUR

Assistant manager Mr. PANKAJ TONDON AND
Mr. VINOD KUMAR

Executives and staff level-9

What Does Finance Department
Do??

Management of
Preparation of
Allocation of funds Investments of
budget
Company

Management of Control of Administration of
Financial Risks expenditure Taxes

Financial
Resource Revenue
concurrence and
mobilisation enhancement
advice

Evaluating individual hospital
performance through followings
Cash in hand (days)

Accounts receivable (days)

Average payment period (days)

Inpatient gross revenue (percentage)

Outpatient gross revenue (percentage)

Evaluating individual hospital
performance through followings contd…
Maintained bed occupancy
(percentage)

Average length of stay (days)

Operating margin (percentage)

Personnel expense (percentage of
operating revenue

Highlights Of The Department
 Cash flow statements prepared by finance deptt
on weekly basis.
 Profitability made on monthly basis
 Yearly budgeting is done based on occupancy rate
and ALOS.
 Standard 85% should be occupancy rate.
 Finance department estimate the revenue.
generation by looking at occupancy rate and
ALOS.
 To look at availability of manpower.

Contd’
• High Quantum of work + High pressure + High
workload

Still We Meet Our Deadlines
(99% efficiency)

SOURCES OF REVENUES

• IPD- Rs 18 crore per month.*
FROM • OPD- Rs 2 crore per month.*
OPERATIONS • Pharmacy- Rs 1 crore per month.*

• FORTIS INN
• IDBI bank
FROM NON • CCD
OPERATIONS • Nescafe
• Connection booster
• Fortis city centre

Hospital Expenses: How Hospital Spend
Money
Purchases

F&B Salaries

Operation and
Transport
capital expenses

Outsource
Maintenance Department

Electricity

Finance Core Areas

DOCTOR SHARE

SALARIED CONFIDENTIAL
EMPANELLED
DOCTOR SALARIED CELL

Finance Core Areas

RECIEVABLE

ECHS TPA’s CGHS

OPEX
An operating expense, operating expenditure, operational expense,
operational expenditure or OPEX is an ongoing cost for running a system.

OPERATING EXPENSES 2011( in lacs) 2010(in lacs)
Material consumed 10802 9081
Employee cost 7756 6232
Legal & professional fee 347 763
Professional charge to 4934 4047
doctors
Other expenditure 12456 8135

CAPEX
Capital expenditure (CAPEX), is the cost of developing or
providing non-consumable parts for the system.

CAPITAL EXPENDITURE 2011(in lacs) 2010(lacs)
Fixed assets 191020 166492
Goodwill on consolidation 43986 41638
Goodwill on acquisition 44448 44624
Interest 2271 3225

TAXES PAID BY FORTIS
Fortis inn and cosmetics

Service
tax

Income Wealth
tax TAX tax

VAT

Pharmaceuticals and food & beverages

Public shareholding
• In 2010-Rs. 74,674,964 lacs
• In 2011-Rs. 74,949,526 lacs

• Percentage of shareholding
– 18.5% for 2010
– 23.5% for 2011

System use for accounting and finance

MEDTREK PRODIGIOUS

Trial balance

P&L

Gross margin

Balance sheet

BUSINESS RUNS

70% on
cash

30% on
credit

Debtor collection period is 180 days

References
• www.fortishealthcare.com/mohali
• www.forbes.com
• Mr Pankaj Tandon- Assistant Manager Of
Fortis Mohali.

The document discusses key aspects of budget planning and financial reporting for hospital administrators. It explains the importance of creating an operating budget, cash flow budget, and capital budget. The operating budget includes a statistical budget to estimate department activity, an expense budget, and revenue budget. Financial reports discussed include the balance sheet, which lists assets, liabilities, and fund balance; the profit and loss statement, which shows revenue and expenses; and the cash flow statement. Understanding these tools is important for evaluating financial performance and controlling costs.

Budget for hospital and nursing college

Devangi Sharma

The document discusses the importance of budget planning for hospitals and healthcare organizations, noting that a budget serves as a guide for allocating resources and activities to effectively meet organizational objectives. It provides details on the various steps in the budget planning process, from identifying needs and setting objectives to preparing expense reports and evaluating budgets. The document also outlines common categories for healthcare budgets such as salaries, supplies, utilities, and capital expenditures, as well as recurring vs. non-recurring expenses.

Utilization management

Mahmoud Shaqria

This document defines and outlines utilization management (UM). UM is the process of assessing healthcare services to determine if care is medically necessary, appropriate, efficient, and meets quality standards. The purposes of UM include ensuring effective and efficient use of resources, continually assessing access and quality of care, and complying with regulations. Goals are promoting high quality, cost-effective care and making decisions based on medical necessity. Types of UM include prospective review before care, concurrent review during care, and retrospective review after care. The structure involves UM committees and councils. Nurses' duties in UM include concurrent review, precertification, monitoring staff, discharge planning, and maintaining accurate records.

Nabh entry level slides

MANISH PATGIRI

The National Accreditation Board for Hospitals and Healthcare Providers (NABH) was established to operate an accreditation program for healthcare organizations in India. The NABH has developed entry level certification standards that healthcare organizations can work towards, with the goals of improving patient safety, quality of care, and respect for patient rights. The entry level certification involves meeting standards in 10 areas, including access to care, patient rights, infection control, and management responsibilities. Organizations work with NABH on a stepwise assessment and improvement process towards gaining pre-accreditation certification.

Budget control and budget making techniques in a hospital

meghadevgan3

The document discusses various techniques for budget control and budget making. It begins by defining what a budget is and then discusses the differences between budgets, budgeting, and budget control. It outlines the key things a budget needs to do including projecting revenue, determining expenses, and predicting profits. The document then discusses various types of budgets such as time-based budgets, function-based budgets, and flexibility-based budgets. It also outlines the steps in the budgetary process including assessment, development, implementation, and evaluation. Finally, it discusses techniques for budgeting such as conventional budgeting, zero-based budgeting, and performance-based budgeting.

Nursing Quality Indicators

DeepakSen25

Material management in hospital and community services

KULDEEP VYAS

Material management is a methodical technique that includes planning strategies, systemizing and regulating the flow of material from procurement till the point of disembarkation. It is the process of coordination and controlling the activities in an organization. It includes the responsibility of purchasing the materials, their scheduling from supply or from other internal sources, their handling, storage and movement through the organization, and their delivery.

Hospital committees

DrSiddharthSingh5

Hospital committees are groups appointed to perform specific functions related to delivering quality healthcare. The document outlines various standing committees in a hospital like the executive committee, management committee, committee on medical services, and others. It describes the area of responsibility, reporting structure, and expected output of sample committees like the executive committee, which is responsible for quality services and organizational direction and reports to the board of directors, and the quality council, which is responsible for the quality management system and reports to hospital management. The purpose of hospital committees is to establish quality management systems to ensure functions like medical services, ethics, drug therapy, infection control and others meet quality standards.

The document provides guidelines for effectively handling patient complaints at a hospital reception desk. It emphasizes the importance of listening to patients, resolving their issues, following up with them, and treating all patients with respect. Key recommendations include allowing patients to fully explain their complaints without interruption, empathizing with their perspective, apologizing even if the staff is not at fault, and ensuring complaints are properly addressed and resolved to improve the overall patient experience.

Cost effectiveness and cost efficiency

AHMED ZINHOM

This document discusses cost effectiveness and efficiency in nursing services. It defines key terms like cost, direct and indirect nursing costs, cost effectiveness, cost efficiency, and cost containment. It outlines the levels of cost hierarchy and stages of cost effectiveness/containment. Methods to measure and improve cost efficiency in nursing include costing out nursing services using per diem rates, diagnostic related groups, time/motion studies, and patient classification systems. The overall goal is to contain costs while maintaining quality of care.

Role of medical audit

Dr. Dharmendra Gahwai

Medical audit is a systematic evaluation of medical care to improve patient outcomes. It involves reviewing medical records against criteria to identify areas for improvement. The key aspects that can be audited include structure, processes, and outcomes of care. Medical audit aims to ensure best possible care, evidence-based practice, and implementation of initiatives. It benefits patients through reduced suffering and ensures safety. Hospitals should establish medical audit committees and collect data to facilitate the audit process. Audits help practitioners identify weaknesses and make corrections to enhance quality of care.

Organizational structure of_a_hospital

krish_3

The document summarizes the typical organizational structure of a hospital. Hospitals group departments into five main categories - administrative services, informational services, therapeutic services, diagnostic services, and support services. Within each category are specific departments like nursing, pharmacy, medical records, and housekeeping. Larger hospitals tend to have more complex structures with multiple levels of management, while smaller hospitals have simpler structures. The organizational structure can vary between hospitals.

Manpower planning

Supa Buoy

Revenue cycle management presentation

fernan716

Physician Billing Services (PBS) provides revenue cycle management services such as medical billing, coding, and collections to healthcare providers. It aims to partner with consulting groups to expand its client base. As a partner, a consulting group would refer clients to PBS for revenue cycle services, earn commissions, and have PBS support its sales efforts. To partner with PBS, a group would need to promote PBS's services and provide client referrals.

Financial Management In Healthcare PowerPoint Presentation Slides

SlideTeam

This document discusses various topics related to financial management in healthcare, including: - Key financial trends in the healthcare industry such as value-based payments and data analytics. - A comparison of healthcare expenditures as a percentage of GDP across different countries. - An overview of different healthcare financing models. - Metrics and analysis used for healthcare system financial analysis including profitability ratios. - A comparison of hypothetical healthcare organization financial statements under two alternatives. - Calculations of direct and indirect healthcare costs. - Various statistics related to healthcare spending, quality, and the size of the global healthcare market.

Ward mangement

ABHIJIT BHOYAR

LEGAL ASPECTS OF MEDICAL RECORDS

R. MAHENDIRAN RATHINAM

This document discusses legal aspects of medical records, including: 1) What constitutes a medico-legal case (MLC) and examples of incidents that would be considered MLCs. 2) Guidelines for preserving medico-legal evidence and documents related to MLCs. 3) The process for notifying police about MLCs and guidelines for preserving related records. 4) What a subpoena is and how one may be issued, served, and should be responded to.

Dutties and responsibilities of various categories of Nursing Personnel

Jafsi Rafeeq

This document outlines the duties and responsibilities of various categories of nursing personnel. It discusses roles such as administrators, managers, counselors, change agents, researchers, case managers, collaborators, health educators, advisors, advocates, implementers, and evaluators. It also describes the duties of nursing superintendents, assistant nursing superintendents, ward sisters, principals of nursing schools, vice-principals, professors, senior tutors, tutors, clinical instructors, and community health nurses. The roles involve responsibilities such as administration, supervision, education, counseling, research, and clinical work.

AUDIT.pptx

beminaja

The document provides an overview of the audit process. It defines an audit and describes the various types including financial, operational, compliance, information systems, and specialized audits. It then outlines the key steps in the audit process, including planning, fieldwork, reporting, and follow-up. Planning involves notifying the client, reviewing controls and processes, and developing an audit program. Fieldwork consists of transaction testing, documentation, and communication with the client. Reporting includes draft reports, an exit conference, formal reports, and client responses. Follow-up ensures issues are resolved.

Introduction to NABH - Nursing Excellence

Mathew Varghese V

The document discusses the National Accreditation Board for Hospitals & Healthcare Providers (NABH) and its Nursing Excellence certification program. It provides an overview of NABH, including that it has 10 chapters, 100 standards, and 683 objective elements. It then describes NABH Nursing Excellence, which contains 7 chapters and 48 standards focused on evaluating nursing services. The chapters cover topics like nursing resource management, nursing care of patients, management of medication, and nursing quality indicators. Obtaining NABH Nursing Excellence certification provides benefits like ensuring quality nursing care and services as well as opportunities for professional growth.

Introduction to quality and OVR

Alaa Elbaraa

This document provides information about quality management and occurrence variance reporting (OVR) processes. It defines key terms like quality, adverse events, near misses and sentinel events. It outlines the OVR process which involves any staff member witnessing and reporting an event, investigation by relevant departments, and submission to the continuous quality improvement department for trend analysis. The purpose of OVR is to identify areas for improvement, implement corrective actions, and establish preventative measures through a non-blame approach.

Committes of hospital

osmansmd

The Credentials and Privileges Committee reviews the credentials of providers applying for initial appointment or reappointment to the medical staff at SHC. It makes recommendations for membership and delineation of privileges in compliance with bylaws and policies. It also reviews credentialing forms and processes. Additionally, it reviews reports from the Interdisciplinary Practice Committee regarding the appointment and evaluations of Advanced Practice Providers.

Utilization Management

Slehri

Utilization management is the evaluation of health care services, procedures, and facilities to determine their medical necessity, appropriateness, and efficiency according to established guidelines and health plan provisions. It aims to ensure effective and efficient use of health care resources and delivery of high quality, medically necessary care. Utilization management techniques include prospective review, concurrent review, retrospective review, and pre-certification of services. It utilizes clinical guidelines like McKesson's InterQual Criteria and Milliman Care Guidelines to standardize decision making. The goals of utilization management are to improve health outcomes, reduce over- and under-utilization of services, and lower health care costs.

Audit and nursing audit

Ekta Patel

The document discusses auditing in healthcare. It defines auditing as the process of evaluating or analyzing something to determine its accuracy or safety. Auditing in healthcare was introduced in the early 20th century to verify the quality of care by analyzing medical records. There are two main types of audits - external audits conducted by independent auditors to review financial documents, and internal audits which are independent reviews of an organization's operations, risks, controls and governance processes. Nursing audits specifically aim to assess and improve the quality of clinical nursing care.

NABH Extended

Vijay Raj Yanamala

This document discusses quality and accreditation in hospitals in India. It provides information on: 1) What NABH is and its organizational structure, including its technical committee, accreditation committee, appeals committee and secretariat. 2) NABH's accreditation standards, which have 10 chapters covering 102 standards and 636 objectives. 3) The NABH accreditation process, including self-assessment, pre-assessment, final assessment, and the criteria hospitals are assessed against. 4) Consequences for hospitals like inactive status, shifting renewal dates, abeyance, suspension and withdrawal of accreditation if they do not meet requirements.

A Study on Delay in Discharge Process, in One of Multispeciality Hospital in ...

ijtsrd

Discharge delays are one of those problems that spoil the overall pleasant experience inside the hospital. The study was conducted to identify the reasons and determinants of discharge delay in acute patients care. Delayed discharge is usually associated with a patient's medical conditions, delayed health care or medical advice, delayed diagnostic services, and delayed related health services. This paper deals with the discharge delay of inpatients in a selected hospital. An annexure was prepared to see the time taken by patients from the time of discharge till they actually leave the hospital premises. The outcome that is expected from this study was to identify the reasons for the delay of discharge and to come up with suggestions to reduce them. K. Revathi | Mrs. U. Suji "A Study on Delay in Discharge Process, in One of Multispeciality Hospital in Tanjore" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30919.pdf Paper Url :https://www.ijtsrd.com/management/other/30919/a-study-on-delay-in-discharge-process-in-one-of-multispeciality-hospital-in-tanjore/k-revathi

Fortis Escort-IILM

Abhi Mishra

Fortis Healthcare was established in 2005 with a focus on healthcare. It operates multi-specialty and super-specialty hospitals across India providing cardiac, orthopedic, and other specialty care. The vision is to create an integrated healthcare system with compassionate patient care. Key values include patient centricity, integrity, teamwork, ownership, and innovation. Fortis Escorts Hospital in Jaipur offers diagnostic services like angiography and stress tests, treatment services for cardiac and other conditions both surgically and non-surgically, and preventive programs. It also has opportunities for roles in HR, marketing, finance, and other areas for candidates with the appropriate education and experience in healthcare.

A Day in the Life As : Radiation Therapy Technologist in IndiA

Teekendra Singh Faujdar

What's hot

1. work load indicator staffing needs (WISN)

VENODEN DHARMARAJAN

Types of committees in a hospital by Dr.Mahboob Khan Phd

Healthcare consultant

Handle the complaints in hospital

shyjobin

Cost effectiveness and cost efficiency

AHMED ZINHOM

Role of medical audit

Dr. Dharmendra Gahwai

Organizational structure of_a_hospital

krish_3

Manpower planning

Supa Buoy

Revenue cycle management presentation

fernan716

Financial Management In Healthcare PowerPoint Presentation Slides

SlideTeam

Ward mangement

ABHIJIT BHOYAR

LEGAL ASPECTS OF MEDICAL RECORDS

R. MAHENDIRAN RATHINAM

Dutties and responsibilities of various categories of Nursing Personnel

Jafsi Rafeeq

AUDIT.pptx

beminaja

Introduction to NABH - Nursing Excellence

Mathew Varghese V

Introduction to quality and OVR

Alaa Elbaraa

Committes of hospital

osmansmd

Utilization Management

Slehri

Audit and nursing audit

Ekta Patel

NABH Extended

Vijay Raj Yanamala

A Study on Delay in Discharge Process, in One of Multispeciality Hospital in ...

ijtsrd

What's hot (20)

1. work load indicator staffing needs (WISN)

Types of committees in a hospital by Dr.Mahboob Khan Phd

Handle the complaints in hospital

Cost effectiveness and cost efficiency

Role of medical audit

Organizational structure of_a_hospital

Manpower planning

Revenue cycle management presentation

Financial Management In Healthcare PowerPoint Presentation Slides

Ward mangement

LEGAL ASPECTS OF MEDICAL RECORDS

Dutties and responsibilities of various categories of Nursing Personnel

AUDIT.pptx

Introduction to NABH - Nursing Excellence

Introduction to quality and OVR

Committes of hospital

Utilization Management

Audit and nursing audit

NABH Extended

A Study on Delay in Discharge Process, in One of Multispeciality Hospital in ...

Viewers also liked

Fortis Escort-IILM

Abhi Mishra

A Day in the Life As : Radiation Therapy Technologist in IndiA

Teekendra Singh Faujdar

Brand Presentation on Max Healthcare

Delhi School of Communication

The document provides an analysis for developing a brand identity for Max Healthcare. It includes: 1) An overview of Max Healthcare's vision, mission and values which focus on medical excellence, ethical practices, and being the principal choice for physicians. 2) An analysis of Max Healthcare's capabilities including its team of qualified doctors and nurses, modern equipment, and financial details like revenue growth and funding. 3) Insights about Max Healthcare's target consumers which are affluent individuals in Delhi seeking high quality private healthcare. 4) An examination of India's healthcare environment including factors like lower spending and health indicators compared to other countries, and competitors in the private healthcare sector.

Information Technology Department Of Fortis, Mohali

Being Td

The document discusses the changing role of IT professionals in hospitals. It describes how IT has transitioned from a secondary department focused on troubleshooting to playing a more strategic role in analyzing requirements, developing applications, and implementing and maintaining systems to make hospital work more efficient. Key systems discussed include the hospital information system (HIS), electronic medical record (EMR), and various clinical and administrative applications used across different hospital departments.

fortis vs apollo hospital

Point Breakfast Restaurant

The document discusses the wellness industry in India, focusing on hospitals. It provides statistics on the size of the wellness industry globally and in India. It then summarizes information about two major hospital chains in India - Fortis Healthcare and Apollo Hospitals - including their founding, locations, services offered, revenues, number of hospitals and beds. Charts show the revenue breakdown by sector and department for each hospital. The document also discusses the companies' pricing, promotion, people and processes. It analyzes the strengths, weaknesses, opportunities and threats for the two hospital chains using SWOT analysis.

Norms

Nabanika Kalita

Norms are standards that guide nursing staffing levels. The document discusses nursing staffing norms recommended by various committees in India, including the Staff Inspection Unit (SIU) in 1991-92. The SIU norms recommend nurse-patient ratios of 1:3 for non-teaching hospitals and 1:5 for teaching hospitals. The norms also provide ratios for different units like ICU, labor room, and operation theaters. Most hospitals in India follow the SIU norms for calculating nursing staff entitlement and defining nursing roles.

fortis healthcare

sanchitjain85

Fortis Healthcare has a vision to set up a network of world-class specialty hospitals linked to multi-specialty hospitals through a hub-and-spoke model. It currently operates 38 hospitals across India with over 5,200 beds. The company aims to be the premier healthcare provider in the region through quality and patient-centric care. Fortis plans to grow through new hospitals, acquisitions, and operating and management contracts with other healthcare providers.

Organizational Structure and Design - A case for a mid-sized Hospital

Sarang Bhutada

Hospital planning and designing

Dr. Priyanka Srivastava

The document discusses the key steps and considerations for planning and designing a hospital building. It begins by outlining emerging issues like changing patient expectations and advancements in medicine. Some strategic essentials for planning include assessing needs, designing for flexibility, and creating a healing environment. The planning process involves steps like conducting a feasibility study, developing an architects' brief, and creating a detailed project report. Key aspects of design include following the function of each department and developing a master plan addressing site layout, access points, and future expansion. Thorough space programming and consideration of impacting factors like regulations and financing are also important.

Shouldice Hospital

tarunkdl

This document provides a case study on Shouldice Hospital, a specialized hospital for abdominal wall hernia repairs located in Ontario, Canada. It discusses the hospital's history, operations, unique service concept, and financial performance. While Shouldice Hospital has been very successful with its specialized focus on hernia repairs, it is now facing capacity constraints and limited ability to meet growing demand due to its specialized workforce and operating model. Some alternatives proposed to address this include adding Saturday operations, expanding the facility, or establishing a new hernia-focused facility.

Hospital waste management

Dr.Sharad H. Gajuryal

The document provides information on hospital waste management. It defines hospital waste and classifies it according to the WHO into 10 categories including general, pathological, sharps, infectious, chemical, radioactive, pharmaceutical, pressurized containers, genotoxic, and anatomical waste. It describes the sources of healthcare waste and the magnitude of the problem globally and in Nepal. The key aspects of healthcare waste management covered are segregation, collection, storage, transportation, treatment and disposal. Common treatment techniques discussed are incineration, chemical disinfection, thermal treatments, and land disposal. The document emphasizes the importance of proper waste management to prevent contamination and disease transmission.

Planning for New Hospital

Nc Das

The document outlines the process for planning a new hospital, including forming a planning team, conducting feasibility studies, and implementing the project. Key steps involve assessing community health needs, selecting an appropriate site, developing construction plans, procuring equipment and staff, and commissioning the new facility once built. The planning process aims to establish adequate healthcare services through strategic planning and consideration of factors like infrastructure, resources, and community demographics.

Viewers also liked (12)

Fortis Escort-IILM

A Day in the Life As : Radiation Therapy Technologist in IndiA

Brand Presentation on Max Healthcare

Information Technology Department Of Fortis, Mohali

fortis vs apollo hospital

Norms

fortis healthcare

Organizational Structure and Design - A case for a mid-sized Hospital

Hospital planning and designing

Shouldice Hospital

Hospital waste management

Planning for New Hospital

Similar to Final finance of fortis mohali

Engage Your Bottom Line: Understanding the Financial Implications of ICD-10

PYA, P.C.

ICD-10, the new, complex and expansive international healthcare coding system, goes into effect in less than two years. Denise and June shared with the audience of approximately 300 viewing the HIMSS telecast that organizations should now be engaged in staff training, budget and cash reserve preparation, and documentation improvement compliance efforts to meet the October. 1, 2013, deadline. CMS estimates that ICD-10 conversion costs could total $640 million in 2013, but Denise and June offered real-world numbers for providers: -Conversion costs alone for healthcare centers with more than 400 beds will range from $1.5 to $5 million -100 to 400-bed hospitals will pay $500,000 to $1.5 million -100- or fewer bed facilities can expect costs to range from $100,000 to $250,000 Denise and June also shared with HIMSS viewers that CMS and the American Health Information Management Association expect denial rates will increase 100 to 200 percent during the first two years of ICD-10 implementation. Claim error rates are expected to increase to 6 -10 percent from the current average rate of 3 percent.

Health Tech Eligibility Services

derekmorkel

Shape your ICD-10 Technology Strategy: Be Ready for Change and Protect Revenue

optum

This document discusses strategies for hospitals to prepare for the transition to ICD-10 coding. It provides an overview of ICD-10, highlights key impact areas for hospitals, and risks around productivity and reimbursement. It then presents a three-phase model project plan for hospitals to investigate impacts, innovate processes, and implement changes. New technologies like computer-assisted coding are spotlighted as ways to support the transition by helping coders and improving documentation. The document concludes with a case study showing benefits some hospitals achieved through implementing computer-assisted coding, including increased coder productivity, accuracy, and cost savings.

Accretive Health - Revenue Cycle - Revenue Cycle Management

AccretiveHealth

This document provides an overview and summary of Accretive Health's business for investors attending the Credit Suisse 2012 Healthcare Conference. It includes a safe harbor statement, descriptions of Accretive Health's three main offerings (revenue cycle management, quality and total cost of care management, and physician advisory services), highlights of the company's mission and value proposition. It also provides financial performance summaries and outlook, growth priorities, and defines how the company uses non-GAAP measures like adjusted EBITDA in evaluating performance.

Financial statements analysis of Infosys annual report 2007-08

Rahul Kejriwal

Infosys is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It has over 52 global development centers and received close to 1 million job applications in a year, selecting only 2.3% of applicants. Key factors for Infosys's growth include its global delivery model, superior quality, innovation and leadership. Factors critical for continued growth are effective integration of onsite and offshore work, increasing the depth and breadth of services offered, and making strategic investments in human resources and infrastructure.

Market Research Report : Catheterization laboratory market in india 2014 - Sa...

Netscribes, Inc.

For the complete report, get in touch with us at: info@netscribes.com Abstract: Netscribes’ latest market research report titled Catheterization Laboratory Market in India 2014 states that the Indian market for catheterization laboratories is growing steadily as a result of the advancements in technology and the resultant increase in demand from hospitals, nursing homes and other medical centers. Different segments are available in the market which includes the premium, performance and value segments. The rising incidence of cardiac diseases in the country and the increasing need for various medical procedures conducted in cath labs is however the most important growth factor for the market. Due to the growing target base, that is, healthcare centers, the market has huge potential for growth, thereby bringing immense benefit to players. Several technological trends are visible in the market. With the rapid advancement and development of newer technologies, the market will get a further boost. Both domestic and foreign companies operate in the market and high competitive rivalry exists between them. However, Philips, GE and Siemens cumulatively hold the highest share in the market. The expansion of hospitals in tier II and tier III cities will help the Indian companies as these centers generally have a budget constraint and would prefer to buy the products of domestic manufacturers who generally sell their products at a lower price than those of foreign manufacturers. Table of Contrnts:

asx_20220223_2345299.pdf

MOHAMMED YASER HUSSAIN

- Healius reported record underlying results for 1H 2022 underpinned by Pathology's role in COVID testing and good cost control. - The company is positioned for growth as routine healthcare demand rebounds from underdiagnosis during the pandemic. COVID testing volumes are also expected to remain at baseline levels. - A strong interim dividend was declared and the company has a robust balance sheet to fund further growth opportunities like the Agilex Biolabs acquisition and Murdoch Day Hospital development.

Pathology Valuation

Curtis Bernstein

The document outlines key aspects of valuing medical laboratories, including: - What pathology is and the different types (clinical and anatomic) - How laboratories generate revenue through billing payors like Medicare and insurance companies for procedures coded using CPT codes - Details of the Medicare reimbursement process and fee schedules that determine payment amounts for laboratory services - Sources of revenue for laboratories including referrals from physician offices and hospitals - Factors that influence laboratory revenues such as Medicare spending trends and reimbursement rates

Ui health frequent visitors

sbrown9924

This document provides an overview and recommendations for a project to address frequent users of the emergency department at University of Illinois Hospital (UIH) in Chicago. It finds that establishing a short-stay observational unit could be financially feasible based on projected revenues from direct services and shared savings, and help meet unmet needs through improved care coordination and reducing returns. The recommendations were made after assessing UIH's frequent users, service areas, target populations, health statuses, a proposed workforce model, and financial analysis projecting net profits starting in year two.

cardinal health Conference Call Presentation

finance2

This document contains the key details from Cardinal Health's Q1 FY2009 investor call on October 29, 2008. It discusses Cardinal's financial results for Q1, including revenue of $24.3 billion (up 11% year-over-year) and operating earnings of $426 million (down 13% year-over-year). It also provides updates on Cardinal's Healthcare Supply Chain Services and Clinical and Medical Products segments. The document outlines Cardinal's financial goals for FY2009 and assumptions, and addresses questions from analysts on the call.

Webinar on "Delivering on the Promise of Microinsurance: Putting Clients First"

Impact Insurance Facility

Despite massive growth of microinsurance coverage, millions of poor households lack access to good value products. What can we learn from the pioneers about their struggle to offer quality products in a viable way? What product types and designs provide the best value for the poor? How does client-orientation contribute to the insurer’s bottom line? This webinar focused on the performance of microinsurance providers from India, South Africa, Kenya and Peru, and examined drivers of profitability as well as strategies that contributed to providing value for customers.

Details and Dollars: Using Data and Analytics to Optimize Revenue Cycle Perfo...

Health Catalyst

Most hospitals and healthcare systems leave millions of dollars on the table every year because they lack the knowledge, experience, and discipline necessary to register, bill, and collect correctly. These unclaimed earnings have become more critical in the face of COVID-19 as healthcare organizations face unprecedented negative financial impacts and recognize the need to optimize existing revenue streams most efficiently. Furthermore, the continuously rising cost and demand for healthcare places more pressure on enhancing revenue as a solution to improving financial performance. Financial managers and administrators must rapidly identify opportunities that increase revenue, maximize reimbursement, and decrease write-offs to ensure long-term profitability and improved results. Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment. During this webinar, attendees learn the following: - How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections. - How to use data and best practices to challenge current processes and effect change. - How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes. - How to leverage appropriate staffing models and productivity tools to maximize efficiency. Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment. During this webinar, attendees will learn the following: How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections. How to use data and best practices to challenge current processes and effect change. How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes. How to leverage appropriate staffing models and productivity tools to maximize efficiency.

A Look Under the Hood: 5 Critical Questions You Should be Asking about ACOs

Sheri Litchford

The document discusses 5 critical questions about Accountable Care Organizations (ACOs): 1) what an ACO is, 2) whether ACOs are failing, 3) if there is money to be made through ACOs, 4) examples of successful ACOs, and 5) the information technology costs of ACOs. It provides details on these topics, including definitions of ACOs, perspectives on their viability, examples of ACOs that have generated savings, and the types of IT systems needed to support ACO operations and goals such as quality reporting, cost control and care management.

IV Fluid (Intravenous Fluid) and Dialysis Solution - Manufacturing Plant, Det...

Ajjay Kumar Gupta

This document provides an overview of establishing an IV fluid and dialysis solution manufacturing plant. It discusses the market potential and outlines the various sections that would be included in a detailed project report for this business, such as introduction, types of IV fluids, manufacturing process, machinery details, financial projections, and more. The project report would help entrepreneurs evaluate the feasibility, costs, and expected financials of investing in this type of manufacturing plant.

Novartis and IPCA Financial Analysis

Shahzad Khan

The document provides an analysis of the Indian pharmaceutical market and the performance of Novartis and IPCA, two pharmaceutical companies operating in India. It summarizes that the Indian pharmaceutical market is growing at 15.4% annually and is poised to reach $25 billion by 2010. However, factors like low public healthcare spending and currency appreciation are challenges. The analysis finds that Novartis has stronger leverage, profitability, liquidity and asset utilization compared to IPCA, making Novartis a more attractive investment option for shareholders.

Hdfc

sunnymotwani76

- HDFC Bank reported total income of Rs. 24,263.4 crore and net profit of Rs. 3,926.4 crore for the financial year ended March 31, 2011. - The directors recommended a dividend of Rs. 16.50 per share for the financial year ended March 31, 2011. - During the year, 74.8 lac shares were allotted to employees pursuant to exercise of options under employee stock option schemes. The board approved a stock split of one share with a face value of Rs. 10 each into five shares of Rs. 2 each face value.

WQD2011 - INNOVATION - NMC - Evaluation & Management Coding Documentation by ...

Dubai Quality Group

Why rcm performance is more important than ever

MaggieLewis

Profarma 2Q12

Profarma

Hvantage RCM Capabilities

HVantage Technologies Inc. USA.

HVantage Technologies provides revenue cycle management services and is a subsidiary of DCNPL Pvt. Ltd. HVantage was founded by members from premier institutes with experience at Fortune 500 companies. HVantage offers end-to-end revenue cycle management services including medical transcription, coding, billing, and accounts receivables management. The company aims to become the preferred partner for healthcare business process transformation and technology-driven solutions by maximizing revenue for clients.

Similar to Final finance of fortis mohali (20)

Engage Your Bottom Line: Understanding the Financial Implications of ICD-10

Health Tech Eligibility Services

Shape your ICD-10 Technology Strategy: Be Ready for Change and Protect Revenue

Accretive Health - Revenue Cycle - Revenue Cycle Management

Financial statements analysis of Infosys annual report 2007-08

Market Research Report : Catheterization laboratory market in india 2014 - Sa...

asx_20220223_2345299.pdf

Pathology Valuation

Ui health frequent visitors

cardinal health Conference Call Presentation

Webinar on "Delivering on the Promise of Microinsurance: Putting Clients First"

Details and Dollars: Using Data and Analytics to Optimize Revenue Cycle Perfo...

A Look Under the Hood: 5 Critical Questions You Should be Asking about ACOs

IV Fluid (Intravenous Fluid) and Dialysis Solution - Manufacturing Plant, Det...

Novartis and IPCA Financial Analysis

Hdfc

WQD2011 - INNOVATION - NMC - Evaluation & Management Coding Documentation by ...

Why rcm performance is more important than ever

Profarma 2Q12

Hvantage RCM Capabilities

Recently uploaded

Singapore 2024 Sustainability Slides.pdf

International Federation of Accountants

Tdasx: Interpreting the 2024 Cryptocurrency Market Funding Trends and Technol...

nimaruinazawa258

Economic trends from a business point of view (May 2024)

Інститут економічних досліджень та політичних консультацій

“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”. During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented. The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed. The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022). ✅ More survey results in the presentation. ✅ Video presentation: https://youtu.be/4ZvsSKd1MzE

Budgeting as a Control Tool in Govt Accounting in Nigeria Prof Oyedokun.pptx

Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR

Dr. Alyce Su Cover Story - China's Investment Leader

msthrill

In World Expo 2010 Shanghai – the most visited Expo in the World History https://www.britannica.com/event/Expo-Shanghai-2010 China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.

Tiểu luận: PURPOSE OF BUDGETING IN SME.docx

lamluanvan.net Viết thuê luận văn

China's Investment Leader - Dr. Alyce SU

msthrill

PM pre reads for the product manager framework

KishoreKatta6

Exploring-Madhya-Pradesh-Culture-Heritage-and-Land-Records.pptx

cosmo-soil

Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...

Suomen Pankki

1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样

28xo7hf

原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。【业务选择办理准则】一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。留信网认证的作用: 1:该专业认证可证明留学生真实身份 2:同时对留学生所学专业登记给予评定 3:国家专业人才认证中心颁发入库证书 4:这个认证书并且可以归档倒地方 5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息 6:个人职称评审加20分 7:个人信誉贷款加10分 8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才【关于价格问题（保证一手价格）】我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子我给客户的都是第一手的代理价格，因为我想坦诚对待大家不想跟大家在价格方面浪费时间对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。

Discovering Delhi - India's Cultural Capital.pptx

cosmo-soil

The various stages, after the initial invitation has been made to the public ...

Yashwanth Rm

Enhanced metrics to measure the Regulatory impact

Alexander Belyaev

Pension Playpen - TAS300 v2 maths and governance resets pension strategies (3...

Henry Tapper

Chapter 25: Economic Growth Summary from Samuelson and Nordhaus

iraangeles4

Singapore 2024 Sustainability Reporting and Accountancy Education Slides

International Federation of Accountants

GUIA_LEGAL_CHAPTER_2_FOREIGN EXCHANGE.pdf

ProexportColombia1

How to Invest in Cryptocurrency for Beginners: A Complete Guide

Daniel

Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security. Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.

Calculation of compliance cost: Veterinary and sanitary control of aquatic bi...

Alexander Belyaev

Recently uploaded (20)

Singapore 2024 Sustainability Slides.pdf

Tdasx: Interpreting the 2024 Cryptocurrency Market Funding Trends and Technol...

Economic trends from a business point of view (May 2024)

Budgeting as a Control Tool in Govt Accounting in Nigeria Prof Oyedokun.pptx

Dr. Alyce Su Cover Story - China's Investment Leader

Tiểu luận: PURPOSE OF BUDGETING IN SME.docx

China's Investment Leader - Dr. Alyce SU

PM pre reads for the product manager framework

Exploring-Madhya-Pradesh-Culture-Heritage-and-Land-Records.pptx

Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...

1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样

Discovering Delhi - India's Cultural Capital.pptx

The various stages, after the initial invitation has been made to the public ...

Enhanced metrics to measure the Regulatory impact

Pension Playpen - TAS300 v2 maths and governance resets pension strategies (3...

Chapter 25: Economic Growth Summary from Samuelson and Nordhaus

Singapore 2024 Sustainability Reporting and Accountancy Education Slides

GUIA_LEGAL_CHAPTER_2_FOREIGN EXCHANGE.pdf

How to Invest in Cryptocurrency for Beginners: A Complete Guide

Calculation of compliance cost: Veterinary and sanitary control of aquatic bi...

Final finance of fortis mohali

1. HOSPITAL FINANCE Mr. Subodh Agrawal PRESENTED BY:- Dr.sachi bajaj (Head of department) Dr.venus monga

3. Hierarchy Of Fortis Finance Department Zonal finance controller Mr. SUBODH AGRAWAL Manager of finance deptt Mr. MONTOO GARG Deputy manager Ms.PARMINDER KAUR Assistant manager Mr. PANKAJ TONDON AND Mr. VINOD KUMAR Executives and staff level-9

4. What Does Finance Department Do?? Management of Preparation of Allocation of funds Investments of budget Company Management of Control of Administration of Financial Risks expenditure Taxes Financial Resource Revenue concurrence and mobilisation enhancement advice

5. Evaluating individual hospital performance through followings Cash in hand (days) Accounts receivable (days) Average payment period (days) Inpatient gross revenue (percentage) Outpatient gross revenue (percentage)

6. Evaluating individual hospital performance through followings contd… Maintained bed occupancy (percentage) Average length of stay (days) Operating margin (percentage) Personnel expense (percentage of operating revenue

7. Highlights Of The Department  Cash flow statements prepared by finance deptt on weekly basis.  Profitability made on monthly basis  Yearly budgeting is done based on occupancy rate and ALOS.  Standard 85% should be occupancy rate.  Finance department estimate the revenue. generation by looking at occupancy rate and ALOS.  To look at availability of manpower.

8. Contd’ • High Quantum of work + High pressure + High workload Still We Meet Our Deadlines (99% efficiency)

9. SOURCES OF REVENUES • IPD- Rs 18 crore per month.* FROM • OPD- Rs 2 crore per month.* OPERATIONS • Pharmacy- Rs 1 crore per month.* • FORTIS INN • IDBI bank FROM NON • CCD OPERATIONS • Nescafe • Connection booster • Fortis city centre

10. Hospital Expenses: How Hospital Spend Money Purchases F&B Salaries Operation and Transport capital expenses Outsource Maintenance Department Electricity

11. Finance Core Areas DOCTOR SHARE SALARIED CONFIDENTIAL EMPANELLED DOCTOR SALARIED CELL

12. Finance Core Areas RECIEVABLE ECHS TPA’s CGHS

13. OPEX An operating expense, operating expenditure, operational expense, operational expenditure or OPEX is an ongoing cost for running a system. OPERATING EXPENSES 2011( in lacs) 2010(in lacs) Material consumed 10802 9081 Employee cost 7756 6232 Legal & professional fee 347 763 Professional charge to 4934 4047 doctors Other expenditure 12456 8135

14. CAPEX Capital expenditure (CAPEX), is the cost of developing or providing non-consumable parts for the system. CAPITAL EXPENDITURE 2011(in lacs) 2010(lacs) Fixed assets 191020 166492 Goodwill on consolidation 43986 41638 Goodwill on acquisition 44448 44624 Interest 2271 3225

15. Purchases Two ways of spending:-

16. Modes of Payments Cash Demand Draft

17. TAXES PAID BY FORTIS Fortis inn and cosmetics Service tax Income Wealth tax TAX tax VAT Pharmaceuticals and food & beverages

18. Public shareholding • In 2010-Rs. 74,674,964 lacs • In 2011-Rs. 74,949,526 lacs • Percentage of shareholding – 18.5% for 2010 – 23.5% for 2011

19. System use for accounting and finance MEDTREK PRODIGIOUS Trial balance P&L Gross margin Balance sheet

20. BED OCCUPANCY

21. AVERAGE LENGTH OF STAY

22. AVERAGE REVENUE PER OCCUPIED BED

23.

24. BUSINESS RUNS 70% on cash 30% on credit Debtor collection period is 180 days

25. SUGGESTIONS

26. References • www.fortishealthcare.com/mohali • www.forbes.com • Mr Pankaj Tandon- Assistant Manager Of Fortis Mohali.

27. THANK YOU

Final finance of fortis mohali

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (12)

Similar to Final finance of fortis mohali

Similar to Final finance of fortis mohali (20)

Recently uploaded

Recently uploaded (20)

Final finance of fortis mohali