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Regulatory and legislative requirements for covering Ramsay healthcare business

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Added on  2020-02-03

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Assignment INTRODUCTION 3 TASK 13 Question 1 3 Regulatory and legislative requirements for covering Ramsay healthcare business 3 Requirement of regulatory and legislative for billing in Ramsay healthcare company 3 Question 2 4 Payment options in Ramsay healthcare company 4 Equipments required to invoice and payment for service rendered 4 Question 3 4 Three barriers related to financial matters 4 Question 4 5 Importance of clearly stated policy regarding cash flow 5 Practice Incentive Program and support from Australian government and special payment scheme 5 Name of two billing and accounting system 5 Question 5

Regulatory and legislative requirements for covering Ramsay healthcare business

   Added on 2020-02-03

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Assignment
Regulatory and legislative requirements for covering Ramsay healthcare business_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Question 1...............................................................................................................................3Regulatory and legislative requirements for covering Ramsay healthcare business..............3Requirement of regulatory and legislative for billing in Ramsay healthcare company.........3Question 2...............................................................................................................................4Payment options in Ramsay healthcare company..................................................................4Equipments required to invoice and payment for service rendered......................................4Question 3...............................................................................................................................4Three barriers related to financial matters .............................................................................4Question 4...............................................................................................................................5Importance of clearly stated policy regarding cash flow........................................................5Practice Incentive Program and support from Australian government and special paymentscheme....................................................................................................................................5Name of two billing and accounting system..........................................................................5Question 5...............................................................................................................................5Debt tolerance levels that Ramsay healthcare accepts...........................................................5Debt recovery strategy for Ramsay healthcare company.......................................................5Practise of debt recovery strategy...........................................................................................6TASK 2............................................................................................................................................6(A) Analysis of established billing and accounting system ,processes or guidelines............6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONManage health billing and accounting system helps in streamlined the organisation's process. It helps in improving efficiency of the entire organisation and reduces the efforts of employees and redundant data entry (Raleigh, Headwater Partners, 2014). This project is based on Ramsay healthcare that deals in health care sector. this report will explain the regulatory and legislative requirement for billing , list of the payments options in a medical practise and equipments that are used healthcare sectors for rendering the services and barriers related to financial matters which prevents patient from accessing practises services.TASK 1Question 1Regulatory and legislative requirements for covering Ramsay healthcare businessThere are many laws related to billing that are apply in Ramsay healthcare company. There are many laws ,regulation and legislation that increases the security andaccountability when it comes to patient medical information specifically. It is used by mostlycompany for securing the information of patient. It is used in collecting, gathering andtransferring of any or all patients. Some of them legislation are as follows-Australian Accounting Standards Boards that provides information related to theaccounting requirements for the business (Singh and Chana, 2013).Commonwealth Consumer And Competition Act Of 2011 that protect the rights ofconsumers and helpful in providing the justice to them.Medicare has website for billing and accounting through patient can take information.Contract Regulation Act NSW that deals with contract related matter.Fair Trading NSW that regulates the company and ensures that it is dealing fairly andwith-transparency.All above act made by the government of Australia that every company have to follow itfor running the business activities with out any interuption. Requirement of regulatory and legislative for billing in Ramsay healthcare companyThe main legislative requirement is assignment of brief. If service provider selects tobulk-bill, the patient assigns to the practitioner as full payment for the medical services that theyreceived.
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