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Health care financial management is not significantly different from financial management in other industries. The one area of financial management that is unique to health care, and thus requires additional expertise to be effective, is the accounts receivable and billing/collection function. With health care costs in the United States rising faster than inflation, there is considerable pressure on many fronts to reduce or at least contain costs. This pressure requires significant management expertise and attention focused on the accounts receivable (A/R) cycle of a for‐profit health care concern. To be effective, a financial manager must not only stay knowledgeable on the current reimbursement environment, but must anticipate and plan for continued significant changes in reimbursement rates, the method and timing of payment. In addition, the pressure on the volatility of the A/R cycle places significant importance on the other areas of financial management.