Right before the Pandemic struck Michigan in 2020, one Home Healthcare practice began losing credit due to a reduction in cash flow. We were quickly able to identify accounts receivable as one of the main culprits, ultimately focusing on incorrect coding and tardy claim submissions to resolve the issue.
Primary outcomes of this study:
- Over 60 successful resubmissions
- A 40% reduction in accounts receivables
- The majority of claims were resolved within 365 days
- Doubled the practice’s financial liquidity within a year