Balancing a Healthy Business
First National Bank Alaska provides billing, collecting solution with BusinessManager
The open gym-style setting at Body in Balance Physical Therapy in Palmer offers rehabbing patients a comfortable space to work aches and pains back into shape with drive and determination. The sight out the facilitys windows of the Matanuska-Susitna Valleys famed Pioneer Peak can be a motivating factor as well. It is quite the view, said Anne Thomas, Body in Balance owner, physical therapist and avid runner. You dont have to be big into the mountain-running community. The vision of Pioneer Peak gives our patients, employees and me a true vision of whats possible when it comes to health and exercise. Enjoying its 10-year anniversary, Body in Balance strives to help customers achieve excellence in personalized therapy training. The company specializes in physical therapy, sports medicine and fitness training. Were all about helping you find the physical balance thats right for you, Thomas said.
Tackling different responsibilities
Like most in the healthcare industry, Thomas is dedicated to her profession. She arrived in Palmer after a rather impressive worldwide journey. Born in Kenya, Thomas studied in Indiana and Scotland. She started practicing in Australia before a family member invited her to visit Alaska. It didnt take long for her to realize this is where she wanted to be. I made some contacts on the initial visit and eventually made my way back, this time to the Mat-Su Valley, said Thomas, who took over sole ownership of Body in Balance three years ago. She also owns the neighboring Active Soles performance shoe store. Ownership meant a whole new batch of responsibilities, like assessing the working capital the businesses needed to be successful. Varying insurance reimbursement rates and longer payment cycles are commonplace in just about every healthcare business. Unpredictable cashflow made it difficult for Thomas to properly plan the right time to expand staff, increase inventory or offer more services. In early 2014, Thomas began working closely with First National Bank Alaska and local experts Sue Welton and Barb Beckage. The bankers learned about the needs and challenges of Thomas businesses and suggested BusinessManager
for Healthcare as a helpful solution.
BusinessManager allows for expansion
BusinessManager for Healthcare provides companies payments for services rendered the very next day. Body in Balance and Active Soles now outsource payment processing to the bank and in turn converts accounts receivable into cash in as short as 24 hours. With BusinessManager and the immediate availability of cash flow for both businesses, Thomas was able to expand Active Soles inventory, upgrade equipment in her business and make plans for expanding the space in the near future. BusinessManager was the solution we needed, Thomas said. When Sue and Barb first suggested, it was the communication with them and First National loan officer Tim Breeden that made the difference. I liked the program because Im using money my business has earned and not struggling with third-party payments. BusinessManager really allows me to strategize and look forward at ways to expand my business. Breeden, the banks BusinessManager specialist, Welton and Beckage assisted Body in Balance in every facet of BusinessManagers implementation and made sure everything ran smoothly. Anne was able to see more patients and allow for a domino effect in terms of staffing and purchasing equipment, Beckage said. BusinessManager gave her that security and she knows the bank is behind her 100 percent. Thomas said the banking experts made the program easy to understand and use. Some of the financial institutions Ive previously dealt with never seemed to see my vision or make that personal connection, Thomas said. With First National, its like night and day. Sue and Barb are genuinely excited about what were doing. I think weve cemented a very positive relationship, and the service provided is second to none.
Enhancing customers experience
Its clear, Thomas professional and personal interests center on healthy lifestyles and general wellbeing. Thomas said using BusinessManager to streamline the billing and collection process helped enhance her customers experience and improve business. A byproduct of BusinessManager is counting on the cash flow being there, Thomas said. Youre able to trade time spent running the business for more time helping patients and providing a quality-care environment. Thats the primary reason I practice and what I care about most. First National and its team of local experts really helped me and my businesses move in a positive direction.