CPSI
6600 Wall St.
Mobile, AL 36695
(800) 711-CPSI
Fax: (251) 639-8214

 
 
Business Management Services

Boone Memorial Hospital

Boone Memorial Hospital
 
   
Location: Madison, WV
Number of Beds: 25
Installation Date: 2003
 

2003 (Gross) Revenues $23,465,655

Goals:

  • Reduce Accounts Receivable Days from 130 to low 60's
  • Exceed $800,000 in cash collections on a monthly basis
  • Reduce Bad Debt write-off percentage of Gross revenues by 30%

Progress:

  • Gross Accounts Receivable Days of 63 as of June 2004
  • Cash flow has exceeded goals each month since July 2003
  • Bad Debt write-off percentage of Gross Revenues has decreased by 44.3%

"Although our set goal was to collect $800,000 per month, we had an unwritten goal monthly collections exceeding a million dollars. CPSI met the set goal within four months and beat it by $325,000 in six months. We had never had that much collected in one month and for the first time in months, we were ablet o close our books with money in the bank."

-Tom Mullins, Administrator
 

 
 

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