The Six Million Dollar Question: A Guide for Health Care Organizations Struggling with Cash Flow

By John Cook

Medical providers are among the best trained to talk about uncomfortable problems. Yet when it comes to money, many health organizations fall short. Financial challenges rank No. 1 on the list of hospital CEOs’ top concerns. Studies show 60 percent of hospitals lose money providing patient care. For many hospitals, denial rates for billing claims continue to rise, and managers struggle with cash flow. But while money is an uncomfortable part of doing business, any business, medicine included, needs to be compensated.

Find out how to transform your hospital or healthcare group from having cash flow problems to getting paid on time without complaint — all thanks to a simple idea: What’s the Six Million Dollar Question?

In this book, we look at the steps your organization can take to turn things around. In six short lessons with “bottom line” takeaways, find out how this approach worked for many other hospitals and how you can apply it to yours.

• Language: English
• Publisher: John Cook
• Release date: Apr 9, 2018
• ISBN: 9781370619399

John Cook

John Cook’s career in healthcare has spanned over 35 years in revenue cycle management, client relations, writing, and speaking. He continues to reach healthcare workers through presenting “Taking the Cuss Out of Customer Service,” teaching the essentials of an exceptional patient experience. A graduate of Appalachian State University’s Walker College of Business, he served 22 years as Director of Revenue Cycle at Watauga Medical Center (Appalachian Regional Healthcare System) in Boone. He currently works as Chief Client Officer for Professional Recovery Consultants, Inc. John remains active in his community and the healthcare arena. He may be reached at jcook[at]prorecoveryinc.com.

Book preview

The Six Million Dollar Question

By John Cook

Professional Recovery Consultants, Inc.

Medicine really is a strange, strange business.

Think about it. We provide a service to protect what is most important to each one of us – our life and the lives of others. Without argument, this is the most valuable service any business or organization can provide.

We have some of the most sophisticated technology and procedures known to humankind to help people suffering from just about any ailment. Heart disease, cancer, trauma victims — it doesn’t seem to matter. We can help. We are even among the best trained at talking with people about the one thing no one wants to talk about: life and death.

Yet, when it comes to money we don’t seem to have an answer.

We try to avoid even having the conversation with patients. We will be sending you additional information in the mail or Someone from billing services will contact you about making payments.

Please don’t misunderstand me. Medicine is in the business of saving and protecting lives – as it should be. But just about any business, medicine included, needs to be compensated. And this is also where many medical providers fall woefully short.