A skilled nursing facility in Hamden, CT known for its caring, qualified staff and meticulous grounds, had earned a reputation as an ideal place to convalesce. But internally, they were going through difficult times; their books and records were disorganized, and as a result they had $1.7M in uncollected receivables and were on the brink of closing. At the same time, expenses were not paid properly, which turned certain accounts to disaster situations with penalties rising to the roof.
By leveraging AGS’s existing relationships with the bank, we were able to help the facility increase their line of credit and tide it over while improving cash flow. Receivables were also put on track, and AGS collected outstanding amounts. As a result of AGS’s efforts, the facility reduced the percentage of the Medicaid population that was pending to 20%, down from 50%. Cash flow was normalized, and we systemized their invoices for easy payment approvals. As a result, the facility turned into a profitable business within just a few months.