Business growth beyond sales and marketing - Accelerate Business Group

There are countless ways a businesses can spend several hundred dollars a month:

• A couple nights’ travel
• Offsite meeting
• Customer entertainment
• All-hands meeting
• Catered lunch
• …the list goes on

- Or-

You could spend several hundred dollars cutting your accounts receivable about 56%.

Here’s how one company did the latter.

Here’s how we can work together.

The impact of Danzey’s collection effort has been nothing short of miraculous. As of mid-July, 96 percent of patients paid their bills within 30 days of receiving their first billing statement. Only two percent were in the 31 to 60 day range, and 2 percent were 61 or more days past due.

More importantly, Danzey slashed total accounts receivable by more than half in just five months, from $790,000 in late March to less than $350,000 by late August. “As a result of our financial controls in place, we have leveled the peaks and valleys of our cash flow, thereby ensuring that our bills are paid in a timely manner, getting completely away from financing our debt with credit cards,” Danzey wrote in his AllBusiness.com blog.

Guardian’s success has been so dramatic, in fact, that Danzey is exploring the possibility of doing contract billing work for other physician practices to produce another revenue stream.