Cash Cycle Recovery Audit
The cash cycle recovery audit is the key to quickly recovering lost capital. Our proprietary algorithms, coupled with our in-depth healthcare industry experience, provides the valuable insight required when analyzing a hospital’s cash cycle. Our team of seasoned professionals recapture overpayments made to vendors while working to improve cash cycle operations.
AREAS OF COVERAGE
Misdirected Vendor Payments
Returned Goods Credits
Unapplied Cash Balances
How are we able to do what we do?
Archstone’s use of technology is unrivaled amongst the competition. Our founding belief was that there is a better way to conduct audits for hospitals, and we discovered those methods. Archstone’s audit methodology is centered around the client, we won’t conduct audits that interrupt client business operations. Our data driven audit is centered around our use of a proprietary cloud-based audit platform allows for our services to yield great results, while being nearly invisible to our clients. Exactly what customers want in an audit firm.
While all audit firms focus on the recovery, Archstone also wants to know how the overpayment occurred to begin with. Our team has in-depth practical knowledge of hospital operations and internal controls. On every overpayment, Archstone provides a thorough report on how to curtail the issue from occurring in the future. Our team doesn’t just want to recover the money, we want to prevent the problem from arising again in the future.
Archstone’s data driven audit process is streamlined to fit into the customer’s tight schedule. Our on-boarding process consists of obtaining a few reports and a kick-off meeting. After that, Archstone begins to identify lost capital from day one. Once the audit is underway, our management team will turnover overpayments and work with the client to sure- up internal controls to prevent future errors from occurring.
Archstone’s audit suite is designed to provide customers with quick financial reimbursement from vendors. Our program focuses on getting a majority of the recovered capital back into the client’s hands within 90 calendar days. Archstone’s audit team provides clients with routine reports that focus on areas of concern and key performance indicators to be mindful of.
The beauty of our audit process is that we only get paid on credits, or checks, that are given to the hospital based on our efforts. If we don’t find anything, we don’t bill the customer.
If we don’t find anything, we don’t bill the customer.
VENDOR ACCOUNT REVIEW
Aged Outstanding Credit Balances
Duplicate Payment Recovery
Missed Prompt Pay Discounts
Returned Goods Credits