Future Trends Health Care 2013 - Page 15

9. Financial Management The efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It includes raising and allocating capital, long term budgeting and allocating short term resources like current assets. Skills and Knowledge for Financial Management: Analytical skills Medical audit Billing Coding Training - ICD10 Medical terminology Billing/Insurance pre-authorization Medicico legal audit (research Patient Care advocate author (textbook) Business communication Business Metrics Computer Assisted Coding Contract skills Cost & Funding knowledge Donations Event planning Negotiation skills New models of care delivery aligned with financial reimbursement models Patient advocate Patient education Quality Forecasting medical culture and cultural change Regulatory Fundraising Reimbursement maximization - in network/out of network Grant funds - Writing/Managing Grants management ICD 10 - basic coding updates Information Technology Systems Insurance Marketing Revenue Cycle Management understanding Safety Statistics Value based purchasing Written communication Written skills Medical anatomy & physiology ┬ęCopyright North Central Texas InterLink, Inc. All rights reserved 12