Maun-Lemke Speaking and Consulting was retained by a skilled nursing organization to enhance revenue. The year-long Revenue Growth Initiative in one facility utilized our proven A.R.M.S. revenue enhancement process. The components of the A.R.M.S. process include:
- Building Teams to work on the Initiative
- A written and Team-signed 12-Week Plan with goals
- Weekly reporting on the process for continuous feedback to the Team on the effort
In addition, the Maun-Lemke consultants were available for live visits, phone conferences, Skype and email correspondence with the facility Teams during implementation of their 12-Week Plans.
The successful results of this Revenue Initiative are as follows:
- Medicare census grew from 7 to 23
- The Medicare rate went from $390/day average to $413/day average
- The average length of stay increased from 23 days to 42 days
- The annualized top line revenue increase was $2,411,920 with an additional $193,085 growth in Medicare rates
- Assuming a 30% profit margin on the Medicare top line revenue, that would equate to a total profit of $723,576 on the $2,411,920 top line plus $193,085 in Medicare rate for a total annualized profit of $916,661
In addition, there were substantial improvements in clinical systems, customer service, branding and positive marketing on a continuous and self-sustaining basis.
