Keys to Improving Your Revenue Cycle

Revenue cycle management (RCM) is one of the most complex medical office tasks. There are layers of steps involved in the process and roadblocks may be encountered throughout the entire process. Luckily, there are ways to apply the standard principles of professional RCM to improve your office’s ability to get paid in a timely manner. […]

Budgeting for COVID-19 Uncertainties  

There is always a degree of uncertainty when your organization is budgeting for the year. However, the COVID-19 pandemic has created a completely new sense of uncertainty. As revenues for many organizations have decreased in the past year and the demand for program services has not changed (or may have even increased), the budgeting process […]

Patient No-Shows? No Problem

Working around patients that do not show up for appointments is a constant battle that all medical practices face. This article dives into various strategies to help tackle this issue.

Roles of the Finance Committee

The finance committee is charged with overseeing and keeping the board of directors informed of an organization’s overall financial health. Ideally, this entails more than simply scanning financial reports. The most valuable finance committees take a strategic role when it comes to oversight and planning. Active involvement not only pays off with robust financial governance, […]

Employees’ Favorite Topic: Paid Time Off

Have you reviewed your practice’s paid time off plan lately? Whether your practice has implemented a strict plan or one that is more relaxed, it is a good idea to revisit the plan periodically.

Getting the Most Out of Your Audit

Whether you are currently working on closing the year or in the midst of your organization’s busy time, your annual financial statement audit will be here before you know it, regardless of fiscal year end.

Mastering Your Patient’s Appointment Scheduling

Good patient scheduling is both an art and a science. The goal is to determine the right amount of time to devote to each patient while limiting wait time. Obviously, efficiency is a goal, but not at the expense of caring for patients

Siloing Your Social Media Strategy

Your social media efforts should not exist as an island apart from your organization’s other strategies. Be sure to incorporate social media into your overall strategic planning and align your social media tactics with the organization’s mission and goals.

Measuring Fundraising Success

Donors continue to look for more accountability and transparency from non-profits, especially regarding fundraising. Not only is the sum of money raised in campaigns meaningful, but how efficiently you are able to raise it, is fundamental to the non-profits success. For instance, one activity may project higher revenues than another activity, but measuring the activities’ success requires more than just evaluating the gross revenues.

Donations: Evaluating what Works

The recession has been over for many years and the nation’s unemployment rate has returned to below 5%. So, can not-for-profit organizations expect to see the donation flood gates open back up? For some organizations, this may be the case. However, this may not be the case for all. Many variables factor into why donations may be up or down. This article stresses the point that there is never a bad time for organizations to review their struggles or successes with donations, as well determine ways to improve.

Cash Flows: Thinking Ahead

Capital is the lifeblood of any manufacturing business. Each week, your payroll must be met, overhead covered and suppliers paid. Meanwhile, your plant’s customers might not pay on time — or in full — and unanticipated expenses may come up, straining your cash flow. Cash flow forecasting can help eliminate much of the heartburn associated with managing a manufacturing facility’s day-to-day capital.

Health Care Group Newsletter – Winter 2021

Our Health Care Group Newsletter looks at the benefits and drawbacks of outsourcing billing, details key metrics that will help physicians better understand their revenue cycle to decide whether or not to outsource billing and explains how technology plays a significant role in a patient’s experience.

Health Care Group Newsletter – Fall 2020

Our Health Care Group Newsletter provides strategies for reducing the financial consequences from the COVID-19 pandemic and explains how nonphysician providers can provide high-quality services to patients while relieving pressure on physicians.

Not-For-Profit Group Newsletter – Summer 2020

Our Not-For-Profit Newsletter helps you evaluate your revenue streams to make sure they are sufficiently diverse as you head into the future and covers the findings of a new Fidelity Charitable study on charitable giving.

Health Care Group Newsletter – Summer 2020

Our Health Care Group Newsletter discusses the “new normal” for physician practices and provides burnout prevention and management strategies.

Not-For-Profit Group Newsletter – Winter 2020

Our Not-For-Profit Group’s Winter 2020 newsletter discusses trends in the not-for-profit industry and tax changes regarding transportation benefits.

Health Care Group Newsletter – Summer 2019

Our Health Care Group’s Summer 2019 Newsletter offers advice on how to protect your medical practice from a ransomware attack, plus tips for running the business side of your practice.

Manufacturing and Distribution Group Newsletter — Fall 2015

ORBA’s Manufacturing and Distribution Group Newsletter is a quarterly publication focused on effective manufacturing and distribution management. The Fall 2015 issue includes two articles, “Getting Employees to Join the Fight Against Fraud” and “Secure Disposal of IT Equipment: Proper IT Asset Disposal Merits the Same Attention as Acquisition.”

ORBA Announces New Hires

CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, announces that four new hires have recently joined the firm.