Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Revenue cycle management. Malvern Hospital generated net patient revenues of $150 million for 20X1, and its cash collections were $125 million. The revenue cycle management
Revenue cycle management. Malvern Hospital generated net patient revenues of $150 million for 20X1, and its cash collections were $125 million. The revenue cycle management costs to collect these revenues were $9 million B. Compute Malvern's cost to collect for the year if 55 percent of the cash collections during the year required human intervention and its EDI costs were $500,000. Provide an assessment of how this cost compares with the hospital industry benchmark of 3 percent.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started