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Accounts receivable: $11M+ collections achieved within six months

Client Background and Context

  • Largest independent provider of home care management solutions with 2,100 workforce across 70+ locations. Client was – 
    • Facing billing issues resulting in denials / partial payments including accumulating aged AR
    • Facing branch specific issues in terms of cash collection  & delayed follow up on denials
    • Looking for partners to manage AR portfolio with focus on improving process, clearing backlog and meet stringent SLAs

Solution

  • Implemented proprietary tools (iAR, SAAG and resolution strategy) to understand baseline & design execution plan
  • Deployed 110 in-house FTEs including subject matter experts
  • Targeted SWAT teams for addressing high dollar accounts & Aged AR nearing TFL/AFL Timelines

Impact delivered – Performance

  • 90% Net collections rate
  • 5 days TAT by referred date vs. baseline 90 days from denial post date
  • 90%+ reduction of client onshore assistance required (35% -> 2.5%)

Impact delivered – Financial

  • $11+ M collections achieved within 6 months (30%+ of total AR actuals)

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