Introduction:
In the challenging landscape of non-emergency medical transportation (NEMT), managing finances and ensuring timely payments can be a daunting task. For Lisa Hogan, the owner of All Care Medical Transport, a NEMT company, the mounting burden of overdue invoices was jeopardizing the company's financial stability. In desperate need of a solution, Lisa turned to Gen's Books as her last resort. This case study explores how Gen's Books, a NEMT billing company owned and operated by Genesis, helped All Care Medical Transport successfully collect over $300K in overdue invoices, turning their financial situation around.
The Challenge:
All Care Medical Transport, located in the beautiful state of Florida, had been struggling to receive payments for their services, resulting in a significant backlog of overdue invoices. Lisa Hogan had exhausted various efforts to collect payments, but traditional methods were proving ineffective. The company's financial stability was at risk, and Lisa needed a solution that could help her regain control of their money.
Discovering Gen's Books:
Lisa Hogan came across Gen's Books, a NEMT financial management solution, through a professional Facebook group in this industry. Lisa reached out to Genesis with a quick question. Intrigued by its claims of streamlining billing processes and improving cash flow, Lisa decided to give it a chance. With limited options left, she saw Gen's Books as a potential lifeline for her business.
Beginning Phase:
After a thorough evaluation and consultation with the Genesis, they established key performance indicators to be clear on what expectations Lisa had. They included dollar amounts to be collected per month, bi-weekly meetings with updates, and a google sheet report so Lisa could see everything Genesis was doing in real-time. Here it included; invoice amounts, dates new invoices were sent, notes on the communication between accounts payable departments, and full aging report that was easy to understand.
Streamlining Invoicing and Collections:
Gen's Books revolutionized All Care Medical Transport's invoicing and collections process. Genesis controlled the creation and distribution of professional invoices, ensuring accuracy and timeliness. With Gen's Books, Lisa and her team could easily track invoice status, send automated payment reminders, and monitor collection efforts. This streamlined approach saved time, minimized errors, and improved the efficiency of their accounts receivable process.
Improved Cash Flow and Overdue Collections:
As Lisa Hogan and her team started working with Gen's Books, they quickly began to witness the positive impact on their cash flow. All Care Medical Transport experienced a significant increase in on-time payments and successful collections on invoices that were over an year old!
The Results:
Thanks to Gen's Books, All Care Medical Transport successfully collected over $300K in overdue invoices that had been languishing for months. Lisa was thrilled with the results, as the improved cash flow provided the company with much-needed financial stability. It allowed them to meet their operational expenses, invest in essential resources, and even provided a cushion for when hurricane Ian came in late 2022.
Beyond the financial success, Lisa also appreciated the ongoing support and customer service provided by the Genesis. Her responsiveness and commitment to ensuring All Care Medical Transport's success further solidified Lisa's confidence and its positive impact on her business.
Conclusion:
Gen's Books proved to be the ultimate solution for All Care Medical Transport. Through streamlined invoicing, improved collections efforts, and comprehensive financial management capabilities, Gen's Books enabled All Care Medical Transport to collect over $300K in overdue invoices, ensuring their financial stability and future growth. Lisa Hogan's decision to turn to Gen's Books as her last resort before considering collections turned out to be the best decision she could have made for the success of her NEMT company.
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