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In 1991, Robert M. Shelton, FHFMA, CAE, wrote a history of HFMA, which HFMA published to honor its 45th anniversary. That history, From Acorn to Oak, [ 4 ] captured the energy and vision of HFMA's founders, as well as its growth from, as Shelton stated, "a small company of hospital accountants" to a leader in the complex and crucial field of ...
The revenue cycle can be defined as, "all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue." [ 1 ] It is a cycle that describes and explains the life cycle of a patient (and subsequent revenue and payments) through a typical healthcare encounter from admission ...
The Certified Financial Planner (CFP) designation is a certification mark for financial planners conferred by the CFP Board of Standards. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee.
R1 RCM Inc. is an American 'revenue cycle management' company servicing hospitals, health systems and physician groups across the United States.In November 2024, TowerBrook Capital Partners and Clayton, Dubilier & Rice completed the purchase of R1, in a deal that valued the company at $8.9 billion.
The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investment services industry.
The VITA tax returns are prepared by IRS tax law certified volunteers. The volunteers are taught how to use tax software and specific tax law each year. They must pass a tax law exam to receive basic or advanced certification. The passing score is 80%. Certificates expire at the end of the tax year and must be renewed.
In accounting, the revenue recognition principle states that revenues are earned and recognized when they are realized or realizable, no matter when cash is received. It is a cornerstone of accrual accounting together with the matching principle .
Contract lifecycle management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency. [1]