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 16 to 32
- The Medicare rate went from $465/day average to $486/day average
- The average length of stay increased from 23 days to 38 days
- The annualized top line revenue increase was $2,838,240 with an additional $245,280 growth in Medicare rates
- Assuming a 30% profit margin on the Medicare top line revenue, that would equate to a total profit of $851,472 on the $2,838,240 top line plus $245,280 in Medicare rate for a net profit of $1,096,752
In addition, there were substantial improvements in clinical systems, customer service, branding and positive marketing on a continuous and self-sustaining basis.