Accounting for Accrued Expenses – Accrued expenses are the recognition of a charge and the related liability for rendering services or carrying out other activities that constitute THA Group’s clinical, administrative and management activities without the explicit outlay or payment of cash.
Annual Budget – The annual budget should be designed and prepared to direct the most efficient and prudent use of the organization’s financial and human resources.
Accounts Payable and Purchasing – A purchasing system and/or approval process should be in place to help facilitate the purchasing of supplies and equipment at the lowest reasonable cost.
Bad Debt – This policy standardizes the process for recognition and approval of uncollectable revenue.
Bank Reconciliation – Bank reconciliations are a key control factor. Each cash account must be reconciled on a monthly basis by the Controller and reviewed by the CFO.
Capitalization and Depreciation of Property – It is THA Group’s policy to maintain accurate and complete records of property, plant, and equipment held and to capitalize and depreciate them according to appropriate accounting, tax, and regulatory requirements.
Cash Management – Cash management centers around those who have control of funds and the types of vehicles and methods used for managing cash reserves and debt levels. Cash management consists of several elements including timely collection of receivables and strategic timing of payments of bills.
Claim Submission and Denial – It is THA Group’s policy to submit all claims promptly according to guidelines established by each carrier.
Expense Reimbursement – THA Group reimburses employees and contractors for ordinary, necessary and reasonable expenses that are pre-approved by management.
Financial Guidelines – Commercial and Self Pay Patients – After verifying benefits and eligibility, Finance Intake staff will request a credit card to cover co-pays, co-insurance or deductible.
Fixed Asset Management – THA Group’s policy is to capitalize all physical assets with a cost in excess of $1,000 and a useful life of more than two years.
Mileage Reimbursement – This document establishes policies governing the reimbursement of mileage expenses while conducting business for THA Group. All employees driving their personal vehicle while conducting business for THA Group shall maintain proper car insurance and registration in accordance with State regulations.
Mileage Reimbursement ILAH – This document establishes policies governing the reimbursement of mileage expenses while conducting business for THA Group. All employees driving their personal vehicle while conducting business for THA Group shall maintain proper car insurance and registration in accordance with State regulations.
Patient-Client Collections – THA Group collects all balances due from patients covered by private insurance carriers fairly and equitably and in a manner consistent with applicable laws and rules.
Patient/Client Collections – ILAH – THA Group collects all balances due from Independent Life at Home (ILAH) clients in a manner consistent with applicable laws and rules.
Patient/Payer Refund of Overpayment – THA Group reviews all credit balances for resolution on a timely basis to comply with applicable federal, state and local laws and to ensure sound ethical business practices.
Productivity Adjustments – Establishes guidelines for adjusting the productivity of per-visit employees under circumstances requiring extended travel to provide patient care. The purpose of the policy is to ensure that employees are compensated when extended travel requirements may negatively impact productivity. Download the Payroll Productivity Adjustment Form.
Vendor Selection Process and Capital Assets Acquisition – To ensure that THA Group gets the best service, price and quality, vendor selection and relations for all companies will be centrally managed at THA Services. No individual branch office shall enter into a contract or purchase goods or services from a vendor that hasn’t been approved by THA Services.