Business Solutions: Considering the Actual Cost of Healthcare Services for Long-Term Success
Download MP3We welcome Tom Thornton, Practice Director, Net at Work to this episode of MGMA's Business Solutions podcast.
Tom is here to discuss one method of cost accounting that is gaining popularity in the healthcare industry Activity-Based Costing, or ABC. In the discussion, Tom discusses how ABC helps healthcare organizations improve cost management, enhance resource utilization, and increase efficiency and quality of care.
Resources:
Accounting Solutions: https://www.netatwork.com/services_1/bizsol_1/erp-accounting-solutions/erp-for-healthcare/?utm_source=MGMA&utm_medium=website&utm_campaign=MGMA+Podcast
Benefits of cloud-based software: https://www.netatwork.com/resource/benefits-of-cloud-based-nonprofit-accounting-software/?utm_source=MGMA&utm_medium=website&utm_campaign=MGMA+Podcast
Next Gen ERP: https://www.netatwork.com/wp-content/uploads/2023/01/sage-intacct-erp-HawaiiDentalService.pdf
ERP for Children First: https://www.netatwork.com/wp-content/uploads/2023/02/Sage-intacct-erp-ChildrenFirst-Ontario-naw.pdf
Business Health Assessment: https://www.netatwork.com/free-business-health-assessment/
Net at Work ABC Whitepaper: https://www.mgma.com/practice-resources/financial-management/activity-based-costing%E2%80%99s-time-has-come?utm_source=website&utm_medium=podcast&utm_campaign=bde-podcast-apr-2023-netatwork
Sponsor:
This episode is sponsored by MGMA Events.
Join us June 6-8, 2023, for a robust and convenient learning experience featuring education from industry leaders covering a wide variety of challenges facing medical practices today. MGMA Summit is a signature online event that allows you to take control of your journey by attending live or by accessing the sessions at your own pace until July 8.
Additionally, new networking opportunities will make it easy for you to meet industry peers and discuss solutions to your biggest challenges. Go to mgma.com/events/2023-mgma-summit to learn more and to register today!
If you would like additional tools and resources related to medical practice leadership email us at podcasts@mgma.com.
Thank you again for taking the time to listen to MGMA’s podcast network. If you have opportunities you’d like to share with the MGMA audience, go to www.mgma.com/marketing-with-mgma/advertise to find out how you can connect with the MGMA audience.
We welcome Tom Thornton, Practice Director, Net at Work to this episode of MGMA's Business Solutions podcast.
Tom is here to discuss one method of cost accounting that is gaining popularity in the healthcare industry Activity-Based Costing, or ABC. In the discussion, Tom discusses how ABC helps healthcare organizations improve cost management, enhance resource utilization, and increase efficiency and quality of care.
Resources:
Accounting Solutions: https://www.netatwork.com/services_1/bizsol_1/erp-accounting-solutions/erp-for-healthcare/?utm_source=MGMA&utm_medium=website&utm_campaign=MGMA+Podcast
Benefits of cloud-based software: https://www.netatwork.com/resource/benefits-of-cloud-based-nonprofit-accounting-software/?utm_source=MGMA&utm_medium=website&utm_campaign=MGMA+Podcast
Next Gen ERP: https://www.netatwork.com/wp-content/uploads/2023/01/sage-intacct-erp-HawaiiDentalService.pdf
ERP for Children First: https://www.netatwork.com/wp-content/uploads/2023/02/Sage-intacct-erp-ChildrenFirst-Ontario-naw.pdf
Business Health Assessment: https://www.netatwork.com/free-business-health-assessment/
Net at Work ABC Whitepaper: https://www.mgma.com/practice-resources/financial-management/activity-based-costing%E2%80%99s-time-has-come?utm_source=website&utm_medium=podcast&utm_campaign=bde-podcast-apr-2023-netatwork
Sponsor:
This episode is sponsored by MGMA Events.
Join us June 6-8, 2023, for a robust and convenient learning experience featuring education from industry leaders covering a wide variety of challenges facing medical practices today. MGMA Summit is a signature online event that allows you to take control of your journey by attending live or by accessing the sessions at your own pace until July 8.
Additionally, new networking opportunities will make it easy for you to meet industry peers and discuss solutions to your biggest challenges. Go to mgma.com/events/2023-mgma-summit to learn more and to register today!
If you would like additional tools and resources related to medical practice leadership email us at podcasts@mgma.com.
Thank you again for taking the time to listen to MGMA’s podcast network. If you have opportunities you’d like to share with the MGMA audience, go to www.mgma.com/marketing-with-mgma/advertise to find out how you can connect with the MGMA audience.
CareCredit
Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit www.carecredit.com/mgmapodcast.
NextGen
Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.
Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit www.carecredit.com/mgmapodcast.
NextGen
Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.
