Ways of Discouraging Embezzlement of Funds.
There are several ways a facility discourages the embezzlement of facility funds. Employees should know their employees and identify the warning signs of involvement in funds fraud. They strictly monitor employees who object to financial inventory changes and live beyond their means. Contacting the employees’ referees and running background checks on the employees is an excellent way to know employees better. A facility numbers its purchase orders serially. It also uses different people to handle and verify incoming requests. A facility’s stakeholders control the auditing and label the cash receipts and bank slips serially to prevent fraud. Also, they ensure that several departments handle these documents for easy detection of errors. A facility can plan for several random internal audits and also hire external auditors annually to ensure that there is transparency in the monetary transactions. A facility should ensure computer security. It employs computer software that detects a flaw in the inventory to ensure accuracy of transactions.
Variation of Billing and Payments Among Third Party Payers.
Third-party payers reimburse partial or the full cost of health care on behalf of the patients. Medicare is a public option that pays deductibles for aged people exceeding sixty-four years. Medicaid is a public option that is funded by the federal government and the States to pay deductibles for low-income families. Indemnity policies ally patients to select their preferred doctors and health care providers. Preferred Provider Organizations give an outline of preferred contracted providers for a patient to choose. A patient gets more substantial benefits for selecting a contracted provider. Members of Health Maintenance Organizations’ insurance policy receive health care from hospitals affiliated with the procedure. They have a primary doctor who refers them to specialists and controls the decision-making process. There are self-insurance health plans. These include labor unions, large employers, and some schools. They collect pools of money from which they pay for the employees’ health.