Find Your Financial Groove
Many financial challenges face hospitals and healthcare organizations with the continuous changes in regulations, declining profit margins, changes in reimbursement and varying patient volume. Hospitals and healthcare facilities must optimize revenue and decrease costs while providing the highest quality care. They must develop innovative solutions to complex problems and bring value to every part of their operations.
NetworxHealth Finance Services can provide seasoned, financial professionals who have solved these problems. They can develop strategic pricing, implement new technology systems, improve revenue cycle, negotiate better loans and identify other strategies that will improve economic performance as quickly as possible. NetworxHealth consultants can mentor your financial team or provide direct assistance. We are flexible to serve your needs, so you can achieve your mission to better serve your community.
NetworxHealth Finance Services include:
- Provide interim or permanent CFOs or other finance staffing or consulting
- Operating and capital budget — review, assess and recommend operating budgets or work with staff to create successful budgets. Short- to long-term budget projections.
- Special projects — develop feasibility (return on investment) analyses for special projects, new construction or services.
- Financing and investments – review financing options and suggest options to maximize investment strategies
- Physician or clinical services – measure productivity and profitability. Identify provider staffing needs.
- Financial planning during period of patient/payor shifts to lower reimbursement.
- Develop and implement point-of-care strategies and strategic pricing to enhance net revenues and collections.
- Strategic planning — work with board, CEO, physician groups, leadership and managers to set financial goals, identify tasks, assign accountabilities and achieve them.
- Revenue cycle– assess and improve from admitting through collection
- Supply chain assessment—reduce costs, improve efficiencies
- Using information technology experts, provide oversite of conversion to electronic medical record security and other projects.
- Resource optimization – through performance improvement techniques, optimize staffing, equipment, space or technologies to enhance productivity and reduce costs. Reduce variation in service delivery while maintaining quality and compliance.