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.
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
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:
Work smarter not harder and allow us to streamline your operations.
Empower your workforce to align with your private practice vision.
Unlock increased cash flow and reduce your day to day financial headaches.
Increase your pipeline of patients and optimize your brand impact.