Medical Practice Management
Jan 07

Healthcare entity risk area

Business processes such as accounts payable, accounts receivable, payroll, and financial statement close are a standard part of day-to-day operations for healthcare organizations and generally are well-controlled. However, when significant changes occur in the organization or environment – such as leadership changes, regulatory changes, mergers, or acquisitions – or when new technologies supporting these processes are introduced, financial, fraud, and legal risks may increase. To minimize these risks, healthcare organizations must proactively plan for and manage change through additional process guidance as well as through increased management oversight and timely and regular monitoring processes.

 

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →