Understanding financial management principles as a healthcare administrator is utterly important. In fact, each term is used to evaluate operational performance effectively. For example, these terms consist of financial performance of revenue reimbursement, benchmarking of industry standards, payer-mix breakdown of payers, and case rate/utilization data. Below is a chart that discusses each term pros and cons in terms of use in operational performance.
Understanding financial management principles as a healthcare administrator is utterly important. In fact, each term is used to evaluate operational performance effectively. For example, these terms consist of financial performance of revenue reimbursement, benchmarking of industry standards, payer-mix breakdown of payers, and case rate/utilization data. Below is a chart that discusses each term pros and cons in terms of use in operational performance.