On a daily basis, healthcare entities face a significant number of operational challenges that can lead to cash flow shortfalls and declining profit margins. A weakness in the Revenue Cycle System of any organization can lead to negative operating results. Cash is King! The quicker an entity can bill for services rendered and collect on outstanding net patient revenue, the better positioned the organization is to pay all forms of expenses/capital improvements timely.
Consistent with the emphasis of our consulting practice on operational finance, we understand, at a fundamental level, the mechanics of how revenue-specific processes ideally work, and our firm has experienced firsthand most of the potential shortfalls which can arise from system, procedural, or staffing deficiencies. We are equipped to assess the range of patient-specific processes and their respective linkages which build out your organizational revenue platform.
An improvement in the Revenue Cycle for a healthcare entities business is typically a great step to improving cash flow and improving profit margins.