Mark each statement as true, somewhat true or not true for your organization today. Each answer scores 0, 1 or 2, for a maximum of 20 points.
1. Every month, we track days in accounts receivable, the denial rate and the net collection rate.
2. We keep a cash forecast for the next 13 weeks and update it every week.
3. We know the profit each provider produces, in addition to total practice revenue.
4. Every month, we divide payroll by collections and track the result.
5. For each payer, we know the average amount we are paid per visit.
6. Each month, we compare actual income and spending with a budget.
7. The books close on a set date each month, and we use the figures to make decisions.
8. At least one person besides the owner can explain how the practice makes money.
9. Our finance role (bookkeeper, controller or CFO) fits the practice’s size and its number of providers.
10. A lender or buyer could review our financial records today without corrections.
Where to next
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What happens next
Reading about it and having it done are different things. Here is exactly what happens if you want the second one.
- The call takes thirty minutesYou describe the business and where the numbers are letting you down. We give you an expert view of your situation, and what we would start with. There is no pitch deck.
- We look at the fileYou give us read access to the books as they are. We come back with what is wrong, what it will take to fix, and whether the answer is bookkeeping, controller work, or something else.
- We send a written scope and a priceIt lists what we do each month, what you get, the date it lands and the fee. We agree it before anything starts, and it does not change unless you agree.
- We take over the books and close the first monthWe set up access and systems and enter the opening balances. The first close lands on the date in the scope, and every one after it does too.