16.6 a. What is a metric? b. What role do metrics play in revenue cycle manageme
ID: 2796936 • Letter: 1
Question
16.6
a. What is a metric?
b. What role do metrics play in revenue cycle management?
16.9
a. What is the difference between free trade credit and costly trade credit?
b. Should businesses use all the free trade credit that they can get? Explain your answer.
c. Should businesses use all the costly trade credit they can get? Explain your answer.
16.10
Explain briefly how healthcare providers typically obtain secured short-term financing, if such financing is needed.
Answer all questions above pleasssss!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Explanation / Answer
As it includes a number of subquestions so i would be answering only first main part of the question i.e. 16.6.
16.6 a) Metric - A metric is a measurment of certain key factors which tracks the performance of an business in terms of certain Key performance indicators (KPIs). This is a quantifiable measure and hence make it easier to analyse.
16.6 b) With the help of Metric we can easily track if any expense is not going in tendem with revenue and we can focus to key expense categories to work upon and hence improve the margin ratios of the business.
These metrics can be compared with the industry benchmarks to help us formulate a performance improvement plan.
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