The economic system of Nigeria is a center revenue, a combined economic system rising market with well-developed monetary, authorized, communications, transport, and leisure sectors. It’s ranked 31st on this planet in phrases of GDP (PPP) as of 2009, and its emergence, although at the moment, the underperforming manufacturing sector is the second-largest on the continent, producing a big proportion of items and companies for the West African area. Beforehand hindered by years of mismanagement, financial reforms of the previous decade have put Nigeria again on monitor in direction of reaching its full financial potential. Nigerian GDP at buying energy parity greater than doubled from $170.7 billion in 2005 to $374.three billion in 2010, though estimates of the scale of the casual sector (which isn’t included in official figures) put the precise numbers nearer to $520 billion.
Correspondingly, the GDP per capita doubled from $1200 per individual in 2005 to an estimated $2,500 per individual in 2009 (once more, with the inclusion of the casual sector, it’s estimated that GDP per capita hovers round $three,500 per individual). It’s the largest economic system within the West Africa Area, third largest economic system in Africa (behind South Africa and Egypt), and on monitor to changing into one of the highest 30 economies on this planet within the early half of 2011. Though a lot has been made of its standing as a serious exporter of oil, Nigeria produces solely about three.three% of the world’s provide, and although it’s ranked as 15th in manufacturing at 2.2 million barrels per day (mbd), the highest three producers Saudi Arabia, Russia, and the USA produce 10.7mbpd (16.eight%), 9.8mbpd (15.four%), and eight.5mbpd (13.four%) respectively, collectively accounting for 63.6mpd (45.four%) of the world’s complete manufacturing. [2]
To place oil revenues in perspective: at an estimated export charge of 1.9mbd, with a projected gross sales worth of $65 per barrel in 2011, Nigeria’s anticipated income from petroleum is about $52.2 billion. This accounts for lower than 14% of official GDP figures (and drops to 10% when the casual economic system is included in these calculations). Subsequently, although the petroleum sector is essential, it stays actually a small half of the nation’s general vibrant and diversified economic system.
Best practices for revenue cycle management and claims processing
Best practices for revenue cycle management and claims processing Revenue cycle management (RCM) and claims processing are essential aspects of healthcare delivery. RCM is the process of managing the financial transactions between healthcare providers and patients, from registration to payment. Claims processing is the process of submitting, verifying, and reimbursing medical claims from insurance companies. […]
