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Accounts receivable wind down: 35%+ reduction in AR days

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Client Background and Context

  • Leading supplier of Health Information Technology (HIT) Solutions & Services. Client was – 
    • Working on an AR and adjustment clean-up project for AR > 360 days for a provider client
    • Looking for partners to support clean up of outstanding AR through deployment of proprietary workflow engines, processes and people

Solution

  • Implemented proprietary tool Know Your Inventory (KYI) to strategize AR focused actions on weekly basis
  • Robust planning methodology through inventory quartiling, plan of attack and clear WFM plan
  • Deployed 300 in-house FTEs including subject matter experts

Impact delivered – Performance

  • 35%+ reduction in AR from 90 to 56 days
  • 5 days TAT achieved for all denials
  • 100% allocated inventory wind down completed within 12 months

Impact delivered – Financial

  • 20% increase in client collections to reach $6 Mn

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