Business Situation:
The client is a not-for-profit integrated health care system consisting of four hospitals, multi-specialty medical group practice, and other health care services organizations. Recent turnover in their accounting function has resulted in the need for coverage in the reimbursement and revenue cycle area until a replacement has been identified.
ProNexus Solution:
ProNexus was engaged by the client to provide Interim Accounting Support Services to assist management in maintaining productivity while the client focuses on filling the vacancy. ProNexus assigned a consultant with extensive experience in hospital finance to work closely with management to serve as a subject matter expert, offering support to enhance the depth of hospital reimbursement expertise. This included preparing and reviewing supporting materials for the most recent fiscal year’s Medicare Cost Report; as well as developing a clear documentation trail so the hospital finance staff could readily follow when preparing subsequent years' cost reports and related materials in the future.
Last but not least ProNexus evaluated the model used for accounts receivable and related reserves valuation in the monthly financial statements and was able to recommend changes where appropriate. Now that the accounting function is up-to-date, ProNexus will be able to provide knowledge transfer to a new hire.
