Cash is king and small businesses like geriatric care management have to keep their cash flowing in the bank to keep from going under. Since geriatric care managers are entrepreneurs who routinely do not have a degree in business, here are some tips
Send invoices within 2-3 days of billing period and invoice at least twice a month preferably once a week, to keep up with your expenses. Doing this as a social worker or a nurses will throw you out of your comfort zone, but you must, encourage clients to pay. Quickly send reminders after 1 week you have invoiced. You are playing the role of both a bill collector and a heath professional as a geriatric care manager business owner.
Easy ways to prevent late payments are to get a credit card after you sign the contract and automatically bill the credit card. Each billing cycle. Always get a signed service agreement Contract when you open a case and put payment requirements in the contract. Remember to send a thank you note after the bill is paid. Reward clients with kind words.
For more watch the my you tube below on increasing cash flow below and subscribe to my you tube channel Geriatric Care 1
And attend my free webinar, Break Barriers to Billing