JPM was approached by a private ambulance business owner who was struggling to make payroll and was way behind in paying its vendors. He asked if we could help dig into their business determine what was happening and where the money was going. JPM welcomed the opportunity to learn about their business and spent approximately 10-15 hours per week, over a 6 month period learning about their business.
During this time, JPM spent a significant amount of time with each of the owners and key managers in each department of their operations. We learned about their processes on call in take, insurance verification, billing/collection, dispatching runs, having crews fix incomplete run sheets, having doctors sign PCS forms, repair and maintenance, etc.
By learning their current processes, we were able to work together to find areas for improvement. For example, prior to working with JPM, the business was able to bill less than 50% of its runs the same day. Through process and training improvements, the client is now able to bill over 90% of its runs the same day it was completed.
JPM also helped the business transition from using an outside third party billing service to bringing the billing group in house. This project helped improve overall controls to the business and ultimately resulted in lower costs and significantly improved and predictable cash flow.
In 2019 the client is having its most profitable year since the business started. The conversation has changed from struggling to make payroll to minimizing taxes, which is a much more enjoyable conversation for the owners and JPM.