Financial

Healthcare Revenue Cycle Management For Optimizing Financial Gains

Financial blogger

Nowadays, healthcare providers like every other industry need to consider long-term financial stability. In order to ensure this, they need to implement the right procedures and measures to get expected results. One of the best ways to achieve this for the industry is optimal use of healthcare, revenue cycle management. Implementation of proper management procedures makes it possible to gain positive short term and long term financial results.
Long-term financial results occur through better patient engagement and short-term benefits may involve something as simple as knowing about receivable claim accounts. So what is management of revenue cycle related to the healthcare industry? This involves the use of proper techniques, methodologies, tools, and strategies for gauging financial situations. For example, proper management strategies will help an provider review the financial situation of a patient, collect co payments, and submit accurate claims.

Successful payment collections from various payers including; insurance companies, government, and various agencies are possible through successful revenue cycle management. One cannot emphasize enough the benefits associated with such management techniques. For the healthcare provider, it signifies financial stability on a long-term basis. Different institutes use such measures for different reasons. For example, some may use it in preparation of accounting reports or recording of transactions.

This kind of recording and reporting may occur on a quarterly, monthly, or even annual basis. However, most prefer quarterly and monthly reporting for remaining abreast of their financial situation and planning further strategies in this regard. As the situation lies nowadays, healthcare establishments that do not use proper management techniques fail miserably to keep track of the financial sides of transactions and become bankrupt. A sound management strategy in place with successful electronic remittance advice prevents financial distress and this way an establishment can ensure long-term gains.

Revenue management is a critical subject that involves the wider arena related to patient engagements in financial transactions. This includes revenue control processes, analysis of income statement, and successful sales management. Besides this, it also deals with problems related to the health care establishment, which may be hindering its capabilities to generate revenues. Use of practices related to successful profit management may help clinics and hospitals to generate higher revenues and get better results from patient dealings.

Software is available these days that can make revenue management for healthcare industry seamless. These work in close association with electronic remittance devices used in these establishments for managing data, generating reports, and keeping track of financial transactions. With competition is increasing hospitals and clinics have to think of better and more successful ways to ensure financial stability and optimizing their profits. Proper management of revenue cycle surely helps in this regard.

Bankruptcy Attorney Saves You from Overwhelming Financial Challenges

Financial blogger

Bankruptcy Attorney Saves You from Overwhelming Financial Challenges

When you can no longer pay off significant debt, it becomes necessary to obtain the services of a bankruptcy attorney. You need to know bankruptcy is not the end. Your lawyer can help you legally declare your incapacity to pay current and outstanding debts.

Creditors are in the market for serious business and they are out to recover their money through all means. The intimidating collection tactic such as phone calls and letters will not stop until you have successfully paid every last penny. While declaring bankruptcy can safeguard you from menacing creditors, filing for bankruptcy is not an easy task. Aside from the tedious paperwork, filing for bankruptcy on your own can only make the situation worse for you in the courts. There is a maze of proceedings you might not be aware of, which a bankruptcy lawyer can help you navigate.

When you find yourself a skilled bankruptcy attorney, all the necessary negotiations are tackled professionally and according to the law, sparing you from the burden of dealing with unforgiving creditors. Once collections are preserved, you will see that your daily financial situation will improve significantly.

Bankruptcy law can be quite confusing for those unfamiliar with the law such as you. For this reason, representing yourself case may not be your best interest. Expert lawyers possess and provide the necessary skills and knowledge to represent your bankruptcy case most effectively. In addition, your bankruptcy attorney can prevent distressing home foreclosure, wage garnishment and repossession. The lawyer can help you wipe out your debts either by suggesting a payment scheme or by liquidating your assets, whatever fits your situation. Either way, these options will have a huge impact on your financial status. You can sit down with your lawyer to discuss the nature and Chapters of bankruptcy in order to find out the best option to cover your financial affairs.

Undeniably, when you feel the pressure of paying huge debt, you tend to lose your mental composure and focus. Your bankruptcy attorney can help relieve the unnecessary physical, mental and emotional tensions caused by your overwhelming financial challenges. By opting to find a bankruptcy lawyer, you can once again sleep easy at night without the worries of being hounded again and again by your creditors.

Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcy laws are designed to protect and help people who can no longer pay their creditors in order to get a fresh start. This is accomplished by liquidating assets to pay their debts (Chapter 7) or by creating a repayment plan (Chapter 13). Bankruptcy laws also protect troubled businesses and provide for orderly distributions to business creditors through reorganization or liquidation (Chapter 11)

Lex Van Dam And Anton Kreil Breaking The Myths Of The Financial Markets

Financial blogger

Is it possible for a complete newbie trader, with only two weeks of training, to make money trading the financial markets? If the lessons learned from the BBC reality show Million Dollar Traders are anything to go by, then its highly probable that anyone can create wealth by trading the financial markets. The show broke many long held myths about the financial world of trading, and how difficult trading actually is. It also highlighted valuable lessons that every wannabe trader should learn in order to survive and succeed in the world of trading.

Million Dollar Traders was in effect a project that explored the hidden potentials of ordinary men and women and how effective they were in playing the market. The project was conceptualized by Lex Van Dam and Anton Kreil, both former Goldman Sachs traders. The concept was simple. A group of eight ordinary people belonging to different age groups, employment history, educational background and demographic were given one million dollars capital to finance their trading activities over an eight week period. The money was provided by Van Dam. Anton Kreil was the supervisor and mentor to the group. The participants underwent two weeks of intensive training and were then unleashed with the one million dollars, to trade as they wanted too for the two months. The only goal was to make money by building their portfolios and successfully trading them in the markets.

The format of the series combined the popular elements of typical modern day reality shows and informational documentaries. Refreshingly, there wasnt much of the normal overacting that you would associate with most reality shows. It was presented in a very straightforward manner and in my opinion was edited very well by the production company Century Films. The complexities and intricacies of the financial world of trading were for once explained really well to the mass audience, especially by Kreil. The production team seemed to strike a perfect balance between giving enough information to the audience so they understood what was happening, and at the same time managing to steer away from dumbing down the show too much. Of particular interest was how the show demonstrated that everyone can become their own trader.

The first episode introduced the wannabe traders and followed them closely as they began building their stock portfolios. The second episode tested the mettle of each participant in trading and managing their risks, and the final episode turned dramatic when four of the underperforming traders resigned and walked out of the office in protest. This was in reaction to when Van Dam and Kreil fired one of the traders for chronic underperformance. At the end, only a soldier, a student and a single mum had survived the eight week ordeal. The three of them together then had two weeks to trade one million dollars between themselves in an attempt to claw back the losses of the original group.

Incidentally, Million Dollar Traders was filmed when the global financial meltdown occurred in the summer of 2008. The context provided much stress, excitement, anxiety, and confusion for the novice traders. As U.S. Mortgage giants Fannie Mae and Freddie Mac were blowing up, Kreil summed up how difficult the markets were perfectly

If this happens the U.S. could be over for a generation, for anyone that has been in the markets for a long time, this is proper scary stuff.

Even as a viewer watching you could feel the pressure of the moment. One contestant broke down in tears for almost ninety minutes. Another one totally blew his investments, which made Van Dam furious. However, some of the contestants did show exceptional skills beyond their experience in managing risks and handling the stresses of trading.

At the end of the show, the entire team had lost two point four percent of their investments. But this figure was far better than the performance of most professional traders who lost more than five point five percent on their investments. Van Dam and Kreil showed that a novice trader can perform well in any market versus the professionals. I was certainly a fan of the show and Im eagerly awaiting the second installment.

Alleghany Corporation (Y) – Financial and Strategic SWOT Analysis Review

Financial blogger

Alleghany Corporation (Y) – Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.

The profile contains critical company information including:

– Business description – A detailed description of the company’s operations and business divisions. – Corporate strategy – Analyst’s summarization of the company’s business strategy. – SWOT Analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats. – Company history – Progression of key events associated with the company. – Major products and services – A list of major products, services and brands of the company. – Key competitors – A list of key competitors to the company. – Key employees – A list of the key executives of the company. – Executive biographies – A brief summary of the executives’ employment history. – Key operational heads – A list of personnel heading key departments/functions. – Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company. – Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 5 years history. – Interim ratios for the last five interim periods – The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history. For more information kindly visit : http://www.companyprofilesandconferences.com/researchindex/Banking-Finance-c2/Alleghany-Corporation-Y-Financial-and-Strategic-SWOT-Analysis-Review1.html

Financial Service Technology A Panacea To Solve The Major Challenges Of The Finance Industry

Financial blogger

While the financial institutions like banks, insurance providers and capital markets firms are still facing old challenges of security, compliance, efficiency and cost control, new challenges like how to deal with the increased customer expectations, extreme competition and new rules and difficulties in implementing new technology are raising concerns amidst the financial crisis. These trends are driving change at a speeding rate, as companies endeavor to meet new business requirements using the latest technological innovation, mobile devices.

Nowadays, however, a number of new trends are emerging that guarantee to guide in an entirely new arena. But technological innovations have to be much more than simply an add on and must be greatly included in its core. Due to its deep penetration, mobile technology can play a key role in the financial services industry. Those organizations that are able to take benefits of the abilities and possibilities that mobile technology can provide will be well positioned to enjoy the competitive advantage.

In todays industry, financial services organizations have to be a lot more agile than they used to be. Customers and companies are demanding a new level of comfort and visibility, and a company cant sit idle only relying on a multi-year IT solutions provide them what they want.

In fact, mobile technology has the range and versatility to considerably decrease the cost and offers predictive abilities, among other extremely useful features. Plus, it will decrease the risk, and encourage end customers to achieve business goals quickly and cost-effectively.

Financial service technology, leveraging the power of mobility automates the data collection, loan disbursement and payment collection, eliminating the process of capturing the information on paper. Now all the information can be captured through the mobile devices. It not only reduces the cost but increase the customer satisfaction by fast approval loan and other transactions. Field agents can forward the captured data to the head office without any error for further processing in real time, cutting down the number of trips a field worker had to make between the data processing and after approval again approaching the customer.

Furthermore, people with low financial awareness are needed to be educated about their financial decisions, but its not possible in one meeting alone, they need a program that can educate them on a regular basis. As it is not possible for the financial institutions to train every customer personally, therefore mobile phones can play an extremely important part. Companies can send customized messages and alerts to the customers based on their type of loan, policies etc. Moreover, quiz questions can be asked to the customers to know the financial literacy that can be further used to educate the customers.

Financial Services Technology allows financial service companies to confirm high valuable information as it is obtained rather than awaiting back-office handling. Organizations must also add a layer of intelligence along with the safely and effectively exchanging data; to add business value and quickly react to new market or regulating specifications. It also gives workers and clients easy access to information and transactions anywhere, at any time via the mobile devices of their choice.