Managers Finance Resources

Financial Responsibilities of Managers

What is my responsibility as a manager to understanding the finance function of my department? 

 As the manager of a department you must understand and follow the basic business practices of the organization. If you do not understand how they relate to your department ask your Director or a finance representative for assistance.  A basic business practice within a department would include reviewing and understanding all of your monthly financial reports.  Other business practices include timely charging for all services rendered and reconciling your charges daily.  Additionally, completing purchase orders timely and managing to your volume adjusted expense budgets are required business practices.

What is my responsibility as a revenue center manager specifically as it relates to charge capture? 

As a manager, you should do the following:

• Work closely with your department to improve business processes, specifically as those practices relate to patient flow (admitting and registration), charge capture, charge reconciliation and patient discharge.
• Ensure adherence to the Mandatory Charge Reconciliation Policy. 
• Keep the Volume & Revenue Capture Department informed of any new, changed or discontinued services (including supplies and drugs) that are/were provided by your department.
• Review volume and revenue reports on a routine basis.
• Call us if you have concerns or need help.

As a revenue center manager, what volume and revenue reports should I be reviewing on a routine basis?

You should be reviewing the Daily, Weekly and Monthly volume and revenue reports on a routine basis. If you have questions about the reports or need assistance with interpreting the information contained in these reports, you should contact the Director of Volume and Revenue Capture.

• Daily: Daily Revenue Report
• Weekly: Daily Volume and Revenue Report
• Monthly: Late Charge Report, Revenue Stats by Financial Group, Service Item Master and Volume of Service.

For More Information

• Account Management FAQs
• Buying and Paying for Supplies and Services
• Chart of Accounts
• Clinical Decision Support Contacts
• Cost Center Support
• How Maryland Hospitals Get Paid
• Managing Capital Projects
• Payroll
• Training to Use Financial Systems