UF Health’s Revenue Cycle teams have been tasked with reducing the Accounts Receivable (AR) days. AR days = the length of time it takes to receive payment for services rendered. It is one of the most important metrics in the AR cycle.
New statement messages have been added to the Single Billing Office (SBO) Research Statements to assist the Research Billing Office (RBO) as they follow up on aging research accounts in the same way that non-research accounts are.
The messages are based on established AR Follow up Levels: Level 2 (31 – 60 days), Level 3 (61 – 90 days) and Level 4 (91 days and greater). The account level is calculated using the account’s first statement date.
These messages will be displayed in the text box at the end of the statement. The level 3 and 4 messages will be in red text; as older accounts have the most negative impact on our AR days.
The goal is to prompt study teams to make timely payments on accounts and/or prompt communication with the RBO when payment delays are anticipated.
You will also notice that the PeopleSoft Vendor/Supplier number has been added to the statement header. This number should be used when making payments to UF Health to ensure that study teams are using the preferred electronic ACH payment process when making UF Health research payments. Payments are received and posted to Epic within days of study teams completing the PeopleSoft vendor payment process.
If you have questions, please contact RBO via UF-ShandsResearchBillingTeam@shands.ufl.edu.