Today, clinical laboratories are facing growing challenges in the reduction of bad-debt, claim-error, staff and budgets along with the need for compliance updates, rigorous accounting discipline and more. Labs have a crucial need to optimize their business processes, therefore an efficient and effective billing operation is required.
One effective way to come up with successful financial management is to establish BUDGET MANAGEMENT OR FINANCIAL PLANNING. By stimulate the plans, helping others to coordinate the use of lab resources, encourage realism so that plans are achievable within available resources, help improve the quality of plans, as staff are helped to focus on and discuss service priorities, and improve clarity of vision and staff motivation.
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