Change Management to Improve Cash Flows

Ruth Wallace and Rubi Gemmell, of CFORuth & Associates, joined Optimal Billing Solutions (OBS), to lead a complete restructure of their revenue cycle management company after a billing system failure, which caused accounts receivable balances to soar while cash dwindled to almost nothing. During this critical time for OBS, Ruth and Rubi employed their proven method of success: listening and analyzing, defining outcome goals, developing and installing technical solutions, and providing full training and documentation to enable the OBS team to continue to grow and improve their results:

The Results

As a result of these efforts, OBS was able to achieve the following:

• Growing revenues by over 12% through improved coding, optimizing price per visit, and increased consumer collections

• Cash flows increased by over $10 million with a 50% reduction in days sales outstanding

• Workforce reductions through improved automation and outsourcing generated annual cost savings of $5 million

• Operating metrics such as speed to answer customer calls, successful provider audits, client satisfaction and other, improved markedly.

How can CFO Ruth & Associates assist you?

Change and restructuring requires significant energy beyond your team’s daily efforts. Your team may also be reluctant to risk trying something “new and different” than the comfort associated with their regular routines. Do you find yourself contemplating any of the following?

• Where do we start?

• How do our metrics compare to our competition?

• How do we use our people best?

• Are their opportunities to improve efficiency, effectiveness and our bottom line?

Let CFORuth & Associates assist you. Working together we can produce significant “interaction effects”, achieving more, together. At the conclusion of our engagement, your team will be equipped with the tools, knowledge and experience to continue growing your positive results.