Lucy and Sherri have been working through the accounts receiveable for unpaid debt owed to the facility. While reviewing the report Lucy notices there are several patient balances over 120 past due which could account for the decrease in revenue. Lucy and Sherrie begin the collections processfor the outstanding balances owed. by the patient. Describe the first step Lucy and Sheri should take to collect the debt owed by the patients. Explain how the patient debt could have been collected sooner than 120 days. Discuss why it is important to review the accounts receivable report regularly.
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Lucy and Sherri have been working through the accounts receiveable for unpaid debt owed to the facility. While reviewing the report Lucy notices there are several patient balances over 120 past due which could account for the decrease in revenue. Lucy and Sherrie begin the collections processfor the outstanding balances owed. by the patient.
Describe the first step Lucy and Sheri should take to collect the debt owed by the patients.
Explain how the patient debt could have been collected sooner than 120 days.
Discuss why it is important to review the accounts receivable report regularly.
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