Hospital works to decrease payment turnaround time

At last Thursday’s meeting, Petersburg Medical Center’s Interim CFO Doran Hammett updated the board on recent efforts to increase cash on hand at the facility by decreasing accounts receivable (A/R) days –the amount of time it takes for a patient to pay money owed for services rendered.

Hammett said that PMC’s accounts receivable days have historically been very high for PMC.

“Gross A/R days have ranged from 106 to 145 (days) over the past two years,” he said. “Looking at this last fall we realized that we had gotten to a point in our patient financial services that we felt like we need someon...