CLIENT PROJECTS
AFC Power Strategy Group has a diverse portfolio of clients including corporations, government institutions, and nonprofit organizations. Some of our client projects include:
Private Practice Physician/Surgeon:
Problem:
Loss of revenue from insurance payments for patient services rendered
Inadequate filing, no tracking system for accounts receivable, incorrect medical coding
Payments forfeited due to 90-day limit for corrections and resubmissions to be processed
Solutions:
Daily coding of patient treatments and electronic submission of invoices
Established filing system for the various insurance companies
Reconciliation of payments received daily
Phone log of inquiries to insurance companies of rejected and/or late payments, eliminating the backlog of payments due
Results:
200% increase in revenue
Partnered with the local technical college which provided a pool of qualified students who received direct work experience at an established medical practice, significantly saving labor costs over a period of time
In order to maintain the momentum achieved, a fulltime employee was hired to process medical coding/billing and the accounts receivable
Technology/Engineering Firm:
Problem:
A Department of Defense contractor repeatedly experienced rejected invoices
Identified two numbers contained in the line of accounting (funding mechanism) that were inadvertently transposed during the data entry process, which caused the non-availability of funds to process payments
The contract contained poorly written payment instructions
The non-receipt of payments quickly created a cash flow problem for the business
Solutions:
A contract modification was issued to revise the payment instructions to prevent possible expiration of funds
The data entry on the line of accounting was corrected in the payment system
Results
The contractor resubmitted proper invoices and received all outstanding payments in less than 30 days, totaling $125,637.00