One of the first questions a prospective client asks is, “How do I know when to Outsource?”

Knowing When To Outsource Your Business Office Functions

Change is not always easy. Fear of change may keep providers at “status quo.” What are the signals that it may be time to consider outsourcing the Business Office functions of your Skilled
Nursing Facility (SNF)?

• Your DSO (Days Sales Outstanding) is greater than 45 days
• Bad Debt Write Off is greater than 1% of net revenue
  
• The amount of AR in the 60-90-120 day buckets is growing
• There has been a resignation or termination of the Business Office Manager
• You are concerned that your Business Office staff may be struggling to keep up with the latest regulatory and billing updates, impacting your collection of revenue
• There has been or will be a Change of Ownership (CHOW)

These signals indicate that the time may be right to consider outsourcing. At Richter Healthcare Consultants, our team of Revenue Cycle Management professionals are experts at working with SNF providers across the country to manage the day-to-day functions of the Business Office. We work with providers, large and small, across the United States.

Revenue Cycle Management Experts

Inefficiency in the SNF Business Office can lead to more than a frustrating work environment.  Failure to capture all appropriate revenue, to bill properly and to collect all revenue will most certainly have a detrimental impact on the bottom line. It may negatively impact cash flow which in turn may pose challenges in areas related to operations; paying vendors and making payroll.  Administrators keep their focus on care, quality and survey readiness. That’s their expertise. Let the Revenue Cycle Management experts collect the revenue that will help to ensure that the mission of the organization will continue.

“How do I know when to Outsource?” If you are ready to have that conversation, I can help you find the solution that works for you. Call me today at 216.593.7146. I’m here for you.