Question
A healthcare provider is applying Lean accounting in its billing processes. Calculate the Billing Cycle Time for processing patient invoices. The average processing time is
A healthcare provider is applying Lean accounting in its billing processes. Calculate the Billing Cycle Time for processing patient invoices. The average processing time is 2 days, and the total time from invoice creation to payment receipt is 5 days. Propose steps to shorten the Billing Cycle Time. Discuss the impact of reducing Billing Cycle Time on cash flow in healthcare settings.
Requirements:
- Calculate the Billing Cycle Time.
- Propose steps to shorten the Billing Cycle Time.
- Discuss the impact on cash flow in healthcare settings.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
