Question

what could happen to a medical office if the accounting practices are not accurate

Answer 1

Through the accurate accounting practices, the medical officer would able to assess the accurate revenue generated and the expenses incurred to get the net margin of the medical services provided. The management of the “Revenue cycle” is important to know under the medical services to keep the services go on uninterrupted. The medical officer have to ascertain the payments received from the various patients and payments made to the various supplies and for services provided. These information could not be available to the officer in the absence of the good accounting practices.

The in-accurate accounting practices would disturbs the working of the medical officer as he or she would not have the assessment of complete process of revenue cycle of the health center. The revenue cycle includes maintenance of patients data ie. its eligibility and corresponding payments under different heads. The officer’s duty is also to track the claims and keeping the records of all confirmed and denied claims. All the duties of the medical office get struck on non-availability of the proper accounting practices and records.

===============================