“Do you have an Accounts Receivable that is too large and out of control? Are you frustrated waiting to collect the money that you earned months ago? Do you have a “good practice” except for the billings and collections department? Are you completely frustrated being effect of the insurance industry and not being able to collect the money you have worked hard to earn?
If you have answered yes to any of the above questions you need to read on. I, as a private practice owner, would like to share with you the “wins” my employees and my corporation have experienced upon completing the Effective Reimbursement Program
I decided to work with Survival Strategies on the Effective Reimbursement Program as I had an Accounts Receivable which was huge and out of control. At the time I signed on to do the program the production in our offices was steadily increasing. I knew if I didn’t do something about increasing our collections that I would have a monster Accounts Receivable. After 8 years in business, I was finally able to confront the fact that our billing and collections needed help. We needed a system.
We signed up for the Effective Reimbursement Program at the end of June 1998 and my billing and collections staff were trained in early July of 1998. Our collections in July, after implementing the program for only one month, resulted in an increase in our collections of $30,000.00. This was $30,000.00 higher than we had ever collected in our “best month” in business. Since that time we have collected from $10,000.00 to $40,000.00 more per month than we ever had collected in our “best month”.
Not only have the financial gains been significant since implementing this program, our organization is saner and runs more smoothly. The morale of my billings and collections staff has improved tenfold as they now have a “system” and the tools to do their jobs. Prior to doing the program, they had to guess or perform trial and error as to what would work with insurance companies and what wouldn’t. They now have a technology and system, which is proven to be successful.
To date, in the past year, with the finance system in place we have collected over $350,000.00 more than we did over the last year at this time. Better yet, our accounts receivable is now under control . In retrospect, I can only say I should have done this program immediately when it was offered. Why would a business owner wait to implement a system that brings in a significant amount of money which has already been earned? My advice to any practice owner that is frustrated in not collecting money that he or she has earned is to do this program immediately. If your situation was like mine you have nothing to lose and a lot of money to gain!”