When tackling hospital finance efficiency, one of the most important metrics to focus on is the number of days a bill remains in accounts receivable. This determines the life cycle of billing and collections, and provides a good standard turnaround on debts patients owe.
By averaging the total number of days it requires for payments to be settled, organizations can see where they have room to grow and improve.
One of the best ways to improve finance efficiency is to outsource receivables management. Contact us today to learn more about how our solutions can support better revenue cycle management at your health care organization.