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$ FINANCE & ACCOUNT DEPT. OF
HOSPITAL $ Dr. Mahesh
Hospital Management -Overview
FINANCE & ACCOUNT DEPT. OF HOSPITAL 2
Hospital Management
NEED OF FINANCIAL MANAGEMENT1. Era of voluntary, missionary hospital is gone.
2. Public opinion about hospital is changing.
3. When hospital is financially sound it can meet the need of community any way.
4. Quality of hospital services can be improved by financial management.
FINANCE & ACCOUNT DEPT. OF HOSPITAL 3
FUNCTIONS (1/2)
1. Maintains extensive accounting records.
2. A unique number is assigned and file opened for each patient.
3. Charges for each utilised hospital services are maintained in pts account.
4. Compiles all charges and issues bills; also collects cash and unpaid bills.
5. Records all financial transactions including control of cash, purchases and cost of free services.
FINANCE & ACCOUNT DEPT. OF HOSPITAL 4
FUNCTIONS (2/2)
6. Pay-roll records managing and maintaining time cards, absenteeism, leaves on loss of pay, salaries, benefits at termination of service etc.
7. Assists in preparing the hospitals budget, estimating the need of various departments, pts load and income
8. Costing of dept. And services, dept. Income and expenses, cost of service helps for setting of fees.
9. Handles accounts payable on purchases of equipments and supplies.
FINANCE & ACCOUNT DEPT. OF HOSPITAL 5
Accounts Management(1/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 6
Sr .no. Requirement
1 Employee database
2 Patient database
3 Daily OPD registration
4 Daily IPD registration
5 Daily investigation
6 Daily cash receipt from OPD
7 Daily cash receipt from IPD
8 Daily cash receipt from Lab/Investigation
9 Daily admit report
10 Multiple payment mode report (Cash/Cards)
11 Insurance card payment report
Accounts Management(2/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 7
Sr .no. Requirement
12 Daily discharge report
13 Service invoice with service Tax
14 Payroll
15 Balance sheet
16 Profit and loss account
17 Bank reconciliation
18 Outstanding receivable and payment
REVENUE GENERATION (1/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 8
REVENUE GENERATION (2/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 9
LIABILITIES (1/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 10
LIABILITIES (2/2)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 11
SAMPLE BALANCE SHEET
FINANCE & ACCOUNT DEPT. OF HOSPITAL 12
PATIENT – REGISTRATION TO CHECK OUT
FINANCE & ACCOUNT DEPT. OF HOSPITAL 14
CASUALTY PATIENT BILLING Pt approaches casualty
Treatment is given as required if pt doesn't require admission
billing and discharge
Further plan of care
Admission pt is transferred in case of
non availability of bed/services/
Pts relatives are asked to make payment
Pt shifted to allocated bed
FINANCE & ACCOUNT DEPT. OF HOSPITAL 15
CASH FLOW
FINANCE & ACCOUNT DEPT. OF HOSPITAL 16
LOCATION (1/2)
1. Must be located on the administrative corridor adjacent to the entrance from the main lobby
2. Must have privacy and freedom from frequent interruptions as it delivers functions like billing and cashing
3. Space requirement1. Office for director of financial services2. Space for chief account officer3. Clerical area
FINANCE & ACCOUNT DEPT. OF HOSPITAL 17
LOCATION (2/2)
4. Cashiers must located in separate cabin in all major depts. where cash/card transactions occur.
5. Billing section near to cashier booth
6. Waiting area for pts/relatives
7. Separate room for pay roll section
8. Storage room for supplies , pts records and other records
9. Cashier must have safe for keeping cash until it sent to bank
10. A fireproof cabinet for storing valuable records
FINANCE & ACCOUNT DEPT. OF HOSPITAL 18
ORGANIZATION
1. Head of financial management unit
2. Controller/director of financial services who reports directly to the CEO.
3. Actual configuration will vary depending on the size of dept.
FINANCE & ACCOUNT DEPT. OF HOSPITAL 19
PROBLEM SITUATIONS
1. Manual bills leads to excessive delays
2. Late charges from supportive service departments like x-ray, laboratory and dietary.
3. Good percentage of missing bills and lost charges .
4. Incorrect information from pts such as wrong address leads to follow-ups and recovery of unpaid bills almost impossible.
5. Fraud and theft in various operations of unit
FINANCE & ACCOUNT DEPT. OF HOSPITAL 20
INTERNAL CONTROL
1. It is impossible for the CEO to direct supervise over all employees
2. It is mechanism by which the work of one employee acts as a check on the work of other .
3. Ex. store keeper doesn't have control over inventory records, cashier don't have access to accounting records.
4. It has been estimates that one in every ten employee steals habitual in hospital so internal control is necessary.
FINANCE & ACCOUNT DEPT. OF HOSPITAL 21
SAMPLE BILL(1/3)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 22
SAMPLE BILL(2/3)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 23
SAMPLE BILL(3/3)
FINANCE & ACCOUNT DEPT. OF HOSPITAL 24
Dr. Mahesh
FINANCE & ACCOUNT DEPT. OF HOSPITAL 25
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