Healthcare Financial Consulting

LTC works closely with each facility to develop an efficient invoice approval process. Vendor statements are reviewed monthly to ensure accuracy of invoice postings, and monthly spending variances are appraised by vendor and account category.

The LTC Finance team quickly identifies invoice irregularities and reacts accordingly, saving money and providing accountability for all incurred expenses. “Critical payments” are assessed and scheduled to ensure timeliness of payments for insurances, utilities, and other critical expenditures.

LTC Finance serves as the primary contact for vendor collection calls; vendor calls are logged for review in conjunction with check runs.

For financial consulting services for your healthcare facility, contact us online today.

As skilled nursing facilities nationwide have been faced with severe rate cuts, they must now manage their cash flow with greater scrutiny and expertise than ever before.

Many facilities turn to banks for loans and/or revolving credit agreements—LTC Finance can expertly manage the process, relieving the facility of an otherwise onerous and daunting burden. LTC coordinates line of credit borrowing base certificates, cash draw requests, and covenant compliance. Daily book balances are consistently evaluated, which includes projected income and expenses based on historical data and intimate knowledge of the facility. Payroll account funding and resident funding are reconciled as necessary. All bank accounts are reconciled on a monthly basis; check runs are reviewed and processed bi-monthly (or per-facility as preferred).