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Revenue

Unlock increased cash flow

profit and loss, expenses, and cash flow.

Understanding Your Key Financial Metrics

Cash Flow Analysis

Let’s say you are running a healthcare practice. You bill a thousand units for the month to insurance providers and you get paid 50 percent of your fees in 30 days. As for the remaining 50 percent, you may get paid over the next 180 days. In addition, there may be claims that get denied and paid. That reality can make it tough to provide an accurate analysis of the profit and loss for that particular month. It can sometimes take as long as six months or a year to really determine what the financial picture looks like

A challenging aspect of running a profit and loss statement in a healthcare environment is that you often are doing it on a quarterly,  biannual, or even on annual basis. It will be very important to gain a thorough understanding of cash flow through a cash flow analysis.

Our services include, but are not limited to:

  • Revenue Cycle Management
  • Financial Analysis
  • Competitive Analysis
  • Outsourced Financial Functions
  • Payor Mix Analytics
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Developing Your Optimum Payer Mix

The reason we want to diversify your payer mix is simple—you don’t want to put all your apples in one basket. Each of the different payers have different pros and cons; the key is to diversify your income based on cash flow, margin, and client retention. 

The key principle to developing your optimum payer mix is that you want 60 percent of the payer mix paying you 100 percent within 30 days or less. billing departmentb

Building Your Billing Department

Whether you outsource your billing department or you keep these services in-house, you need to identify what your needs are. The decision to outsource these functions is generally dependent on such factors as:

  • Scalability
  • Complexity of Payer Mix
  • Fixed Overhead Vs. Variable Overhead
  • Liability & Control
  • Ability to Manage and Ensure Accountability

Wellness Works Management Partners

Our Team's Expertise

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Efficiency

Work smarter not harder and allow us to streamline your operations.

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People

Empower your workforce to align with your private practice vision.

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Revenue

Unlock increased cash flow and reduce your day to day financial headaches.

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Patient Growth

Increase your pipeline of patients and optimize your brand impact.

Looking to Grow Your Healthcare Business?

drop us a line to see how we can help

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