Improving Collections Has No Blueprint

Rene Letourneau, for HealthLeaders Media , May 13, 2013

"We have aggressively attacked the onboarding process. The overriding, prevalent problem was with getting accurate, complete information. We developed a checklist to make sure when the bills are submitted to the billing office, they are clean," Gold says.

All told, Promise has improved its collections by nearly $14 million in less than two years. Accounts receivable remains an "ongoing priority," Gold says. "It is a work in progress for us."

"It's been a consistent evolution of improvement to the metrics, to the measurements, to the assessments, to the whole organizational dynamic of healthcare management," he says.

Gold will share his success story during a session at the Healthcare Financial Management Association's ANI conference in Orlando on June 18.

"What I am looking to do for the group [at HFMA] is to tell a story to assist other healthcare entities that may have a similar issue with their accounts receivables," he says. "Everyone wants to accelerate their cash collections. … Mine is an anecdotal story where I say, 'We had a huge problem, and here is how we addressed it, and if it can work for us, it can work for you.'"

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1 comments on "Improving Collections Has No Blueprint"

Ian R. Lazarus (5/13/2013 at 5:19 PM)
Our firm trained an inner city hospital to dramatically improve collections. This hospital operates near the Mexican border, where undocumented immigrants were given driving directions on crossing! The hospital aimed to improve collections in their ED in particular, where patients were leaving before reconciling their financial obligations. Our firm trains in Lean Six Sigma principles, and by applying them in the ED, we more than doubled collections. The hospital gains the knowledge of how to apply Lean Six Sigma in other areas as well. In other words, we did not just fish for them, we taught them how to fish on their own!




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