The proper management of the healthcare practice's accounts receivable is the key to the maximization of the cash flow available to operate the practice. Aspen Consulting Group, Ltd.'s extensive experience in this critical area has allowed us to develop successful methods to assist and enhance your healthcare practice's efforts. The following key issues are faced by every practice and are the foundation of our efforts in assisting you in the proper management of the accounts receivable system:

• Establishment of internal controls
• Staff training and accountability
• Establishment of patient financial classes
• Cyclical collection follow-up
• Minimizing controllable losses

  Internal Controls - The establishment of a system of internal controls is essential to safeguard the practice's largest asset, the accounts receivable. We will review your existing controls and make recommendations to enhance the effectiveness and use by your staff.

  Staff Training - Aspen's ability to work well with your staff members is the foundation of our success in instituting training programs designed to raise the level of competence in dealing with accounts receivable issues. We establish job descriptions for the staff that define their responsibilities and accountability for the functions they perform within the accounts receivable system.

  Financial Classes - The use of financial classes to segregate types of patients and insurance carriers' issues has in our experience been an excellent method to address common problems associated with the collection of patient accounts receivable. Examples of these financial classes are personal balances, commercial insurance, payment agreements, and Medicare.

  Collection Follow-up - The formation of a written cyclical follow-up program to progressively deal with the collection issues is an essential requirement to ensure the highest probability of collecting all amounts due to your practice.

  Controllable Losses - Controllable losses are losses from collectible patient accounts receivable that are caused by inefficiencies and/or ineffectiveness in staff performance.

Aspen's clients using our Accounts Receivable Management services have experienced success in increasing the cash flow to their practice with our proven methods and team approach to managing the accounts receivable system. The policies, procedures, and operational management we establish to monitor your practice often become the cornerstone of its ongoing financial success.