Alliant Consulting Aligning people, processes and metrics to meet your business goals.

The client has a subsidiary HME company that has a backlog of over 1300 patient accounts representing approximately $4 million of unresolved, aged accounts receivable and have no viable way to rationalize estimates of recoverability, write offs or reserve requirements.  They wish to assess the situation and collect maximum possible revenue while implementing “high impact” operational changes to stop the continuing build-up of aging accounts receivable

Project Focus

Alliant Consulting provided expertise and management for a special collections team to analyze aged accounts receivable (>180 days), determine causes for nonpayment, procure required documentation and work aged accounts, acquire necessary documentation and recover as much revenue as possible.

Financial and Operating Benefits

Implementation of this program over the course of 13 weeks provided the following results:

  • Recovery of more than 17% aged accounts receivable
  • 93% reduction in errors on intake documents
  • 100% current on orders in document procurement/billing each day
  • All orders resolved within 30 days
  • Above accomplished without increasing staff

In conjunction with concurrent revenue management initiatives lead by Alliant, provided the client with a 6.5 to 1 return on its consulting investment 6 months after the engagement began

Key Changes and Benefits

  • Identified and trained 6 internal team members to research and collect the assigned outstanding accounts receivable
  • Assigned daily workloads driven by the largest dollar amount and file availability
  • Developed and implemented new standards of performance and metrics to measure and report status and attainments
  • Developed and implemented quality assurance procedures on all work performed
  • Redefined management and staff roles and responsibilities related to generating qualified and billable revenue
  • Trained and implemented standards of performance, work flows, tools and roles/responsibilities

 

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