What’s hiding in your vendor inventories?
Today, most hospital business offices rely on third-party vendors, such as collection agencies, extended business-office partners and eligibility firms, to augment their internal collection efforts. Every day, accounts and financial updates flow back and forth between a hospital and its vendors. "Despite everyone's best intentions, the current operating routines and processes often result in inconsistencies between the inventory records of a hospital and its vendors," says Steven Levin, CEO of Connance, a provider of back-office, self-pay collection and scoring solutions.
Tags: Industry Watch