The 12 Days of Critical Factors: The 3rd Day - Accounts Receivable

The 3rd Day of Critical Factors:  Accounts Receivable

3.   Accounts Receivable.  Right along with production and collection is the "critical factor" of accounts receivable.  I encourage you to get out of the banking business.  Instead of carrying accounts of your own books-which means that you are "loaning" money to your patients, consider getting involved with and effectively using patient financing programs. 

Your accounts receivables should be no more than one times your average monthly production-and that is only if you are accepting assignment of benefits of insurance.  If you are not accepting assignment of benefits, then you should have no accounts receivable.

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