Today, uncertainty for hospitals and other healthcare providers is a state of being. With operating expenses increasing and revenue decreasing, financial leaders are faced with prioritizing cost reduction initiatives. Enter cost recovery audit, a value-based service offering that is used to verify the accuracy of supplier transactions and recover funds that slip through the cracks. Larger [...]
Data mining has become an increasingly important driver of decision-making for finance leaders. While larger organizations have been investing in analytics for many years, others remain in the early stages. Perhaps the most important success factor is to create a strategic plan that includes goals and objectives for the different areas of the organization. Identifying stakeholders representing [...]
Commitment to learning and willingness to take risk would be the best way to describe career aspirations upon beginning a journey in accounts payable audit thirty years ago. There was little awareness of how important flexibility was and how helpful practicing “blind faith” would become. A career requiring travel from city to city - was not very glamourous. [...]
Healthcare providers face unprecedented margin pressure due to lower reimbursements. Many leaders are targeting non-labor spend to drive future savings. Meanwhile, process improvement continues to be a priority. Yes, we’ve all accepted that “doing more, with less” is the norm and cost reduction decisions often create internal challenges. This is particularly true in the Procure-to-Pay (P2P) [...]
