Accounts Receivable Management Strategies to Ensure Timely Payments in Rural Clinics
Healthcare business leaders in a rural clinic setting can enhance profitability by implementing strategies to ensure timely payments. The purpose of this multiple case study was to examine strategies applied by healthcare leaders in rural clinics to improve profitability. The population included 10 rural clinic managers and billing staff from 5 rural clinics in the southwestern region of the United States. The conceptual framework for this study was Wernerfelt's resource-based value theory. Implementing Yin's multiple-step data analysis process, data from semistructured interviews were transcribed, coded, and analyzed to identify strategies used by rural clinic managers and billing staff to enhance profitability. Four primary themes emerged regarding revenue cycle management that could increase profitability, including developing effective communication between medical providers and billing staff, implementing payment plan strategies, ensuring accuracy of billing claims, and consistently reviewing open receivable accounts. The implications of this study for positive social change include insights for clinic managers in the development of strategies to increase cash from accounts receivables, which may contribute to the financial stability of the clinic and improve the provision of healthcare for citizens of the southwestern region of the United States.