Aquina Blog

The Washington Post reports, The American economy is starting to get the election jitters.

According to Modern Healthcare, Brad Reiner spent two years and more than $200,000 to get a home health agency up and running in the southern Florida community of Vero Beach.

The JP Morgan Institute released a report detailing the behavior of over 600,000 small businesses in their bank network.  Their conclusion is that “cash is king” and that “cash reserves are a critical tool for meeting liquidity needs”.  JP Morgan reported that businesses held average daily bank balances equal to 27 days’ worth of expenses.

One of the biggest challenges facing every healthcare business owners is improving their payments on outstanding claims to government and insurance payers.  Whether it is Medicare or Medicaid or a private insurer, claims can take weeks or even months to process.  Even small errors in submission can lead to longer delays.  Fortunately there are a number of key strategies that can improve your experience and speed up your payments.

The CMS has begun a trial of a new pre-claim review process in Illinois on August 1st.  This new program requires home health care providers to submit claims to CMS contractors much earlier in the care process, to be audited before the claim is actually submitted for payment. The CMS has pitched this to home health agencies as a simple change to the revenue cycle, putting the pre-claim review authorization in as an added step before claim submission. However we are hearing that this is not the case.

Medical small business owners are plagued by slow payment from insurance companies and government payers.  Delays in processing claims can reach weeks or even months in today's healthcare environment.  Even when a provider reaches the last phase of the process and receives the Explanations of Benefits (EOB) advice form, also known as 835 form, it still often takes 1-3 business days before the cash appears in your bank account.

Please click play below to hear from one of our customers.  The speaker is the CFO of a mental health group in Maryland.  His business was founded over 15 years ago, and the team assists troubled teens with a focus on the family unit.  

Fortune Magazine recently wrote on Square Capital's partnership with Upserve, "a startup that offers software and its own point of sale service to help restaurants."  Through this partnership, "Upserve will provide anonymous sales and cashflow data to Square," and Square will "analyze this data to see which restaurants qualify for loans. Eligible Upserve customers will receive personalized loan offers directly within the Upserve software."  Fortune reports that customers accepting the offer can be funded within 24 hours.

For healthcare companies, cash flow issues can cause major headaches.

We are pleased to announce that Jack Daly, Provider Web Capital’s Chief Revenue Officer, was selected to be a contributing columnist for HomeCare magazine. With nearly four decades of publications under its belt, HomeCare magazine has established itself as a place where home health business owners go not only for industry news but for industry-leading content that is focused solely on helping business owners succeed.  When HomeCare magazine invited us to spotlight our unique financial expertise for small healthcare businesses to its 20,000 + monthly subscribers, Mr. Daly was more than happy to oblige!