OAKDALE, N.Y., January 10, 2018 (Newswire.com) - While medical practices, hospitals, and other health services systems provide care to patients, there are behind the scenes employees handling other essential aspects. Bonnie Cappello has a long resume working with the financial sector of medical businesses, helping these institutions improve areas of coding, billing, and accounts receivable.
Cappello has noticed trends in the mistakes these practices can make with their financial information. But while Cappello has corrected these errors, she also has helped turn around the economic well-being of these physician groups.
Cappello has been an intelligent problem solver with the ability to work for multiple companies with financial problems. She then performs a quick economic turnaround, focusing on particular aspects. Those aspects are team building, financial controls, and policy construction.
Some of her professional highlights in the financial division of these companies are leading growth of a public accounting firm and obtained a position as Partner before selling the CPA business. Also, Cappello restored a billing department, dramatically improving collections and profits all while reducing expenses. Finally, she has earned extensive expertise in all phases of Medicare, Medicaid, and Commercial Insurance.
There are three ranges of her services that have provided support for chief financial officers, comprehensive physician group systems, portable surgical centers, and other healthcare institutions. These areas of importance, according to Cappello, are physician compensation issues, financial reporting issues, and revenue cycle management.
Physician Compensation Issues
Cappello provides monthly conditional variance reports for physicians and their respective practices. These prepared statements include collections, charges, procedure costs, net income, and expenses of the business.
She supports with physician compensation concerns and bonus estimates. These areas of billing and accounts could get tricky if done in-house by regular full-time employees. Sometimes an external set of eyes can catch common mistakes or miscalculations.
Finally, Cappello also helps with physicians on buying or selling agreements and maintains a plan for physician retirement.
These are all fundamental aspects of a medical business that can take hours of compiling and computing. Cappello takes the responsibility away from workers doing these tasks by providing expert interpretation.
Financial Reporting Issues
Cappello considers having the capability to forecast budgets for a medical practice is critical to any successful business. She prepares journal entries and financial statements for medical practices periodically, so staff does not have to perform hours of calculations.
She also studies accounts payable procedures performed by the staff to ensure given on time bills, and expenses become covered. Capello's assistance even makes sure invoices do not become duplicated.
Also, Cappello assists with new software implementations in the office. She oversees implementation of accounting software programs, payroll software programs, practice management programs, and EHR programs. These essential programs maintain that the numbers and financial well-being of the medical practice stay intact.
Revenue Cycle Management
There many features of Cappello's aids when providing revenue cycle management. When conducting a forecast for a medical practice or business, Cappello examines vital signs to highlight areas of concern. These symptoms of interest become taken of first by Cappello.
Also, she will review the overall effectiveness of procedures used by Charge Entry, and Collections and Payment Posting.
Charge Entry is one of the crucial components in medical billing. Most of the companies Cappello works with uses Charge Entry for financial tracking of invoices and debts.
She also makes sure all charges and payments become noted and logged throughout the business. Through these important checks and balances, she makes sure monthly data becomes reported on a regular basis.
These revenue cycle management assistance by Cappello are becoming more significant given growing inclinations in healthcare.
Because of Cappello's expertise in many fields of the financial well-being of companies, she has turned around medical practices in profits.
Source: Web Presence, LLC