Identify your mistakes, maintain a process to increase cash flow
In the healthcare industry, physicians run tests and analyze results to help diagnose a patient.
An A/R analysis can work the same way by offering ways to identify and ultimately repair the billing processes in your practice.
“The fundamental problem starts with bad management,” says Chris Zaenger, practice management consultant at Z Management Group Ltd. in Barrington, IL. “Practices are disorganized. They don’t have copies of their contracts. All they know is that they’re getting paid less and they don’t have enough staff to monitor it.”