Growth Phase: Getting Traction
Title: Accelerating Patient Care and Cash Flow
Headline: 30% Increase in Patient Registrations and 20% Faster Revenue Cycle
Short Description: MediLink Clinic adopted FYNANCE’s billing and analytics tools to streamline invoicing, boosting patient numbers and accelerating payments.
SME Background:
MediLink Clinic is a community health center offering primary care and diagnostics. As a clinic entering its growth phase, MediLink faced increasing patient demand but struggled with billing delays and limited marketing budget. The management sought tools to manage finances better and reinvest savings into outreach programs.
Challenges:
- Slow billing cycle: Manual invoicing and insurance claims processing led to revenue delays of up to 60 days.
- Patient acquisition: Limited funds for marketing restricted outreach, slowing patient registration growth.
- Resource allocation: Without clear cost tracking, it was hard to allocate funds efficiently for staff, equipment, or outreach.
FYNANCE Implementation:
- Automated billing: Integrated FYNANCE’s billing system to generate invoices and insurance claims automatically, reducing errors and days sales outstanding.
- Analytics dashboard: Used FYNANCE’s patient and revenue analytics to identify peak service times and profitable treatments, optimizing staff schedules.
- Targeted budgeting: Redirected savings into community health initiatives by setting aside a portion of budget via FYNANCE, funding health camps and local advertising.
Outcome:
- Revenue cycle improvement: Days sales outstanding decreased by 20%, improving monthly cash flow.
- Increased patient base: Patient registrations grew by 30% year-on-year due to reinvested funds in outreach.
- Operational efficiency: Better insights cut administrative overhead by 15%, freeing resources for patient care.
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