The Insurance Provider - 984 Words

The monies lost through the rejected claims will be recovered by collaborating with the insurance providers to generate a platform that will host their insurance provisions. The data will be stored in the hospital and will be used to check the validity of the patient`s claims against the insurance provider before the hospital can accept the insurance provider as the payer. The money lost through the self-pay patient will be minimized by offering discounts to the patients that paid in cash immediately or after three days. The discount will attract prompt cash payments and eliminate the charges of hiring the debt collectors. The hospital will increase the payment rate by directly chatting with the patients and arranging their payment plans Implementation Plan The plan will be implemented immediately as the situation at hand demands so. The CFO will contact the lenders immediately and arrange for the sideline loan for a repayment of five months in the next five working days. The CFO will give the feedback about the response of the lender`s position to the board of directors and the CEO in two working days. The CFO has the mandate and the responsibility to evaluate the possible lenders that suit the hospital needs considering the urgency of the need, the repayment time, and the interest charged on the loans. He will give a detailed report of about these considerations for three different lenders; give his choice and the reasons for his choice within the next working day for theShow MoreRelatedA Report On The Consumer, Insurance Providers, And Government946 Words   |  4 PagesWe do not have their story. The most recent recommendations to fix this collaboration between the consumer, insurance providers, and government was provided in 2015; this article at least makes better sense than the most recent recommendations---not worth mentioning. First, allow employees an access to better markets and plans; allow employers a flexibility to offer or deny health insurance coverage (Pollack, 2015). Second, hire 10,000 full-time federal enrollment representatives to help AmericansRead MoreWorking As A Manager Of A For Profit Insurance Provider1127 Words   |  5 Pages This reflective journal entry will describe working as a manager in a for profit insurance provider. The author will attempt to provide insight into the leadership style of both his self and the organization. The Vision and Plan Being the group manager for a six physician practice and implementing the first Medicare replacement product in Massachusetts proved exciting. The product employed a capitated reimbursement model for patient care, in this instance capitation refers to a set monetary amountRead MoreTips For Choosing Your Auto Insurance Provider1277 Words   |  6 PagesChoosing Your Auto Insurance Provider Knowing that you are dealing with a great auto insurance company can give you some real peace of mind. The problem is one of determining which company offers the â€Å"best† car insurance, preferably at the best price. Let’s be honest, we are all different; we have different needs and expectations. We decide which company offers the best car insurance as viewed from our own paradigm. 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Because we live in a digital age, finding providers can be effortlesslyRead MoreBeing An Americ an Guarantees The Right And Responsibility1370 Words   |  6 Pagesresponsibility of having Health Insurance. Whether you have Health Insurance coverage through your job, spouse, serving in the military, it is very critical in this day in age, a person to have some kind of coverage. There are many types of Insurance you may receive and different types of organizations, such as a Preferred Plan Organization, or Health Maintenance Organization. They type of Insurance you receive is your decision as well. The history of Health Insurance beings with its revolution inRead MoreDefinition of Health Insurance887 Words   |  4 PagesDefinition Health insurance is insurance against the risk of incurring health care related expenses. It indemnifies the insured for the related financial loss. It is important to note that health insurance is a form of short term insurance. Disability, critical illness and long-term care insurance are all subclasses of health insurance. When an individual buys health insurance, he/she enters into a contract (policy) with the insurance company so that for a monthly premium, the insurance company willRead Morehealth insurance matrix HCS/235 Essay637 Words   |  3 Pagesï » ¿University of Phoenix Material Health Insurance Matrix As you learn about health care delivery in the United States, it is important to understand the various models of health insurance to develop a working knowledge as you progress through the course. The following matrix is designed to help you develop that knowledge and assist you in understanding how health care is financed and how health insurance influences patients and providers as important foundational information for your role asRead MoreFinancing and Structuring Health Care1115 Words   |  4 PagesHealth Care (1) Three main types of Health Insurance: The three major types of health insurance available in the US are Health Maintenance Organizations--HMOs, Point of Service plans--POS, Preferred Provider Organizations --PPOs. (Health Insurance Coverage, 2010) All the three coverage options come under managed care plans wherein the health insurers collaborate with healthcare providers to build networks. HMOs offer the most economical health insurance coverage, however their plans are not always