Is Your Accounts Receivable Getting the Quality of Care It Deserves?
Cash flow is the life blood of your managed care facility, and in the current complex healthcare business and regulatory environment the challenges can be enormous. It takes specialty knowledge to strategically manage short-term and long-term accounts receivables and keep your facilities financially healthy.
It’s easy to fall behind. Too many Medicaid pendings or improper patient admissions or delays in submitting paperwork to the state can tie up accounts receivables for six months or more, and that can put a real crimp on a facility’s finances.
If you have a small staff struggling to keep up with complex accounts receivable backlogs, or are holding on to uncollectible receivables far beyond a reasonable expectation of collection because you don’t have a process for timely transitioning them into write-offs, you may be putting your facility at risk. But why continue to worry about something that’s not your core business function? You can outsource this to GCHMO, in whole or in part, and relax. We’ve got it covered.
Paying Bills on Time is Not as Easy as it Sounds.
HMO accounts payables don’t always get the attention they deserve, and there’s a lot more to managing A/P than just tracking bills and expenses. Properly aging invoices, tracking payment histories, reducing fraud risk, maintaining positive vendor relationships, and meeting all your accounts payable obligations takes a dedicated, experienced team.
GCHMO is prepared to support your current accounts payable team or completely assume that function. Offering a full suite of services, GCHMO can initiate the processing of purchase orders, prevent duplicate payments, and ensure proper amounts are paid and correct accounts are coded. Paper invoices are digitized for processing within your medical business suite such as Meditech. And after approval by your Comptroller, GCHMO can distribute and mail payments.
In a complete outsourcing function, GCHMO will manage all aspects of accounts payable, including responsibility for managing recurring payments and the operating and leasing agreements that support such payments. We can investigate any issues that arise, evaluate and validate invoices that lack purchase order documentation, directly communicate with department managers for authorizations, and interface with your general ledger and/or Meditech system.
Whether you choose a partial support role or a full takeover of the accounts payable system, you can be sure that your obligations will be handled quickly, professionally, accurately, and with full transparency and accountability.