The Fairview Accounting department is responsible for recording, classifying and maintaining Fairview’s financial information and sharing that information as appropriate with stakeholders, managers and employees.
Accounting Services:
General accounting and controls
Cost accounting
Accounts payable processing
Operations Finance is a business partner to operations and acts as a liaison between Operations and Finance and brings valuable insights to help leaders across the organization make informed decisions to improve the organization.
Services Provided:
Financial liaison support to leadership
Month-end reporting and analysis
Dialogue and offer suggestions about how to improve financial performance
Provide ad-hoc analysis to support decisions
Support operations in completing financial planning
Revenue Management team is dedicated to improving the organization’s financial performance and exceeding our customers’ payer and pricing needs.
Services provided:
Charges codes & pricing
Government reimbursement
Managed care/contracting
Revenue recovery
Managed Care is a complex system of plans and organizations that integrate the financing and delivery of health care services.
Fairview Pricing assists with establishing the fees for services and supplies that are provided throughout our facilities to meet our strategic and tactical pricing plans.
Corporate Finance is in charge of the following for the System:
Strategic analysis
Capital planning
Financial planning and analysis
Operational finance for shared services
Revenue analysis and decision support
The Tax Department is responsible for tax planning, compliance, and tax related aspects of mergers and acquisitions for the organization.
Treasury is responsible for cash/bank management, capital structure and debt compliance, short and long-term investment portfolio management, oversight of retirement plan assets, insurance/financial risk management, cash applications and overall balance sheet management. They focus on capital expenditure policies, investment policies, loan policies. Debt and equity is evaluated to determine how to use it for funding in capital investments.
Revenue Cycle – Wide range of processes to ensure our organization is paid appropriately for the services provided to the patients.
Revenue Cycle includes:
Scheduling and registration
Financial securitization
Documentation
Health Information Management and Coding
Billing and Collections
Revenue Cycle
Revenue Cycle is the financial process that relates to creating, submitting, analyzing and receiving reimbursement for clinical encounters. Revenue cycles processes flow into and affect one another. When process are correctly executed, the cycle performs quite predictably. Errors within the cycle can cause delays or negative effects.
