Improving your performance

Understanding Your Opportunity

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Establishing Your Process

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Maximizing Your Payments

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Improving Your Performance

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You’ve heard the saying, “You can’t manage what you don’t measure.”  It’s true. Unless you are tracking your costs or calculating your ratios, you don’t know if your organization’s performance is getting better or worse. You can’t manage your process to improve your collection rates.

So where do you start?

Here are a few important numbers you should be able to calculate and track:

  You can use the following formula:     

(Accounts receivable / Total credit sales) x Number of days = Days Sales Outstanding

 Compare it to the healthy A/R ranges listed below.

If you see room to improve your collection results, give us a call at 913-338-4790, x205.

COLLECTPlus can help remove the burden of collections. Our four-phase, automated billing and collection system includes an integrated payment portal and call center. Using COLLECTPlus to capture your remaining debt gives you confidence that you are providing your clients every opportunity to pay.

Let technology help you make the profits you need and deserve!

 

Source: BSM Consulting’s Maureen Waddle and Derek Preece

The Allegiance Group (AG) has assisted in streamlining and improving our patient collections process, from both a customer experience and cash recovery perspective. Our account management and support team from AG have been very responsive and flexible in understanding our business drivers and making adjustments to our collections process specific to our business needs. We have been very pleased with our partnership with the Allegiance Group.”

Abby - Revenue Cycle Manager