Accounts Receivable Mistakes to AVOID (Feat. Kaitlin Herzog)
On this episode of Strata Stories, we talk with Kaitlin Herzog PT and Account Executive at Red Rock Diagnostics
We dive into:
1. Accounts Receivable Mistakes to AVOID
2. When to outsource AR vs bring in-house
3. Diversifying revenue streams
4. The importance of knowing your financial numbers as a clinic owner
Kaitlin starts the show off by explaining how RedRock helps PT clinics!
Episode Highlight: “It’s really important to know on average, how much are you collecting at the end of the case? And then how long on average are you waiting to collect? Because that can be anywhere from six months to five years. And a lot of clinic owners don’t know that each year you hold that paper, the value is decreasing anywhere from seven to 10 percent. So they might think, I collected 70 percent. Okay, that’s great. But if that took you two years, well, you got to subtract 20 % right there.”
Connect with Kaitlin on LinkedIn here!
Strata Stories are conversations between Strata’s CEO, Paul Singh, and leaders in the OT & PT world. We interview practice owners, therapists, consultants, and coaches disrupting healthcare to make a positive change!
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