GETTYSBURG, Pa., May 19, 2020 /PRNewswire/ -- On Thursday May 21 at 1:00pm EDT, OPEN MINDS will host the executive web briefing, How To Improve Your Cash Management Program – The Five Steps To Manage Cash More Aggressively. In the web briefing, OPEN MINDS Senior Associate Ray Wolfe, J.D., will map out a five-step approach for health and human service organizations to manage cashflow and revenue to recover from the economic disruption caused by the COVID-19 crisis.
"Cash strength is the single most important indicator of survival during periods of economic disruption—and cash management will likely be the number one reason organizations are unable to endure the current crisis," said OPEN MINDS Chief Executive Officer Monica E. Oss. Many smaller health care provider organizations will soon be forced to close their doors without an infusion of cash—and given that competition for scare external funding is severe, it is critical to strengthen from within, she said. The upcoming web briefing will provide a step-by-step guide to help your organization manage costs, streamline operations, and strategically improve financial strength for post-disruption resilience, offered as part of the new program, The OPEN MINDS Executive Blueprint For Crisis Management – Building Organizational Sustainability & Success In A Disrupted Health & Human Service Market.
In the web briefing, Mr. Wolfe will review the five key phases to enhance and optimize revenue—outlining how executive teams can build an effective cash management process and navigate to sustainability. Attendees will learn how to:
Secure additional sources of cash (and ensure that preparation and financial pitch are up to par)
Improve the complex revenue cycle process from the accuracy of billing to the speed of collection
Understand and reduce unit costs
Improve cost management by monitoring key performance indicators
Rebalance portfolios and determine when to close programs or start new ones
The executive web briefing also includes live technical assistance from the OPEN MINDS team of experts. Registration is free and limited to OPEN MINDS Circle members with Elite-level access. Contact us at 855-559-6827 or [email protected] to learn how you can get access.
For more information on the OPEN MINDS Executive Blueprint For Crisis Management, or media inquiries, please contact Meena Dayak, Executive Vice President, Market Intelligence, OPEN MINDS, at 717-334-1329 or [email protected].
About OPEN MINDS OPEN MINDS is an award-winning information source, executive education provider, and business solutions firm specializing in health and human services for people with chronic conditions and complex support needs. For thirty years, we've helped organizations implement the transformational business practices they need to succeed in an evolving market with new reimbursement, competition, policies, and regulations. Learn more at www.openminds.com.