Understanding your AR (Accounts Receivable).
“Why aren’t we collecting more of our accounts receivable? And why can’t I get straight answers from my current billing provider?”
These are common questions we get from potential clients. Unfortunately, straight answers are often hard to come by, because billing team members and their managers don’t always have the appropriate benchmarks to accurately measure performance. Instead, they fall back on generalizations or dollar amounts with no context. It’s no wonder physicians are frustrated and mystified by the big-box billing companies. We were, too.
But the truth is, it’s actually fairly easy to monitor the performance of your accounts receivable. Looking at billing metrics each month can provide you with an early warning of potential collection problems—and the effect it has on your cash flow.
Even if your cash flow seems adequate right now, understanding your AR is part of best practices. We’d love to help. Contact us at firstname.lastname@example.org for a complimentary practice assessment.