Do You Lack The Resources to Manage Major Changes in Financial Reporting and Reimbursement?
Many human service organizations struggle to manage the complexities of changing regulations, reimbursement models, and reporting requirements. Your staff has daily tasks in supporting and operating the ongoing services to consumers – leaving your team without the resources needed to properly manage these financial requirements.
To help navigate the changing environment, the OPEN MINDS team can assist your management team to understand the many changes and establish processes or take over financial functions — such as end-of-month financial reporting, billing and collections, and cash flow management.
Our financial management support allows your team to focus their time and energy on the activities they do best and leverages the finance and industry expertise of the OPEN MINDS team — allowing for improved quality of both services and organizational financial management.
OPEN MINDS financial management support offers the opportunity for improvement in your organization’s financial management, as well as improved risk management from the industry knowledge of changing regulations and reporting requirements. This support may include:
- Billing and collections maximization, including fee-for-service billing, Medicare billing, and coordination of benefits
- Cash management review and consultation on projections
- Cost reporting and financial reporting assistance
- Budgeting funds for uncompensated care
- Documentation and support for tax-exempt statusl including calculation of “community benefit”
- Development of key financial performance indicators and a management dashboard
Depending on your organization, this financial management assistance can supplement your current financial team or can function as an interim or part-time Chief Financial Officer. Whatever your unique needs, the team OPEN MINDS is prepared assist.