Have you ever felt like you just need to squeeze a little more time out of your day or week? Many hospice finance teams find they need to grow in a step-wise fashion. However, many aren’t yet ready to add a full FTE (full-time equivalent). Consequently, we have developed a scalable “bolt-on” solution for outsourcing your hospice accounts payable.
Busy Accounting Team: Meet Hospice Accounts Payable Outsourcing
You’ve probably looked at outsourcing some or all of your billing and collections? Most hospices have. But few think to look at the savings of time and energy they can accomplish by outsourcing their hospice accounts payable.
Blackmor CPA offers many services à-la-carte, like our Financial Statement or Hospice Business Intelligence services. However, we’ve found A/P is one of the least disruptive and quickest returns-on-investment offerings. Therefore, if you want to add instant bandwidth to your existing hospice accounting team, then look no further than outsourcing your hospice accounts payable.
What it Looks Like in Practice
Firstly, we lay the groundwork of expectations, deadlines and communication. Then, our bolt-on hospice accounts payable service basically looks much the same as an in-house A/P department:
- Set up schedules and deadlines according to your check processing date
- Receive incoming invoices electronically
- Ensure proper classification and month-end timing
- Oversee payment disbursement with proper approval and internal controls. This way, nothing gets paid without proper authorization.
Most importantly, for a quick visual aide, here is a process flow diagram of the high points of outsourcing your hospice accounts payable. This shows where our team would intersect with your existing staff.
Testimonial From Hospice of Northwest Alabama
Your team is Amazing! I honestly don’t know what we would have done without them! Denise [Our A/P Specialist] is hardworking, dependable and dedicated to help our agency. We feel she is a part of our team. Thank you for helping us out of a difficult time.
Dianna Cantrell, E.D.
Hospice of Northwest Alabama
Get in Touch…
…to Discuss Outsourcing Hospice Accounts Payable
In summary, consider taking some of the load off your existing staff with our “bolt-on” hospice accounts payable solution. We compliment your existing team by extending the resources of your hospice agency, but at a fraction of an FTE. Give us a call, and we’ll put you in touch with an AP specialist right away.