Finance Office Hours for Health Centers: Strategies to Manage Operations During COVID-19 - Cash Flow Concerns
COVID-19 has created unprecedented challenges for the Community Health Center (CHC) industry. During times of crisis, it is important to evaluate a Health Center’s financial condition more frequently than normal as revenues may decline materially in a short period of time. During this crisis, remember that the fundamentals of managing the revenue cycle still apply. Every reasonable effort should be made to help ensure that payment is received for every service that is provided. Ultimately, expenses cannot exceed revenues for an extended period of time. Expenses may have to be adjusted (even personnel expenses) to help ensure the long-term financial viability of the Health Center. This video helps think through this process to provide tips on keeping community health centers financially healthy!