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Pranoti Kukadia

Lean Six Sigma Project For Accounts Receivable Process In Healthcare

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I would give you a brief on how and where to apply Lean in an accounts receivable process in general. These ideas can be easily customized for your specific case.

Big Ys in Accounts Receivable: Your biggest Objective in accounts receivable is to collect 100% of the money and on time. These are actually your Big Ys in an accounts receivable process.

Value Stream: In case of a service company you may look at the Value Stream from the time the service is delivered till the time money is collected. Now you can look at and understand the various types of wastes that are happening in this value stream which would direcly lead to either delays in receiving the money or not receiving money at all. You can visualize the ideal Value stream for the above process (from delivering service till receiving money).

Improvement Strategy: Make and implement an improvement plan for the wastes identified in the Value Stream Analysis above with an objective to reach the Future state.

Some Dos:  For best possible results ensure the following:

1. Build a case for improving the Accounts receivable process. Highlight the current problems and their negative impacts on your business. Support this with actual data.

2. Involve all key stakeholders. Also when doing VSM do involve people who are actually doing the tasks. This makes a huge difference.

Hope this helps. Let me know in case you have any further queries.

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