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6 Revenue cycle metrics you must be tracking

We list out 6 Revenue Cycle metrics that every medical practice should track to stay compliant and profitable in 2017.

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6 Revenue cycle metrics you must be tracking

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  1. Revenue Cycle Metrics Are you one of those busy physicians who pay just a cursory glance at monthly collections? Then you should be prepared to lose revenue every single day like this obgyn practice in Southeast Georgia.

  2. What are the biggest challenges faced by the medical practices when it comes to using insights to fix revenue cycle leaks? Check out the Top 6 KPIs in the upcoming slides you can use to battle your challenge www.medicalbillingstar.com

  3. #1 The A.R Aging Reports Of course you know that claims are getting denied and your billing team is following up on them. 1 But have you arranged your AR into buckets based on the number of days they’ve remained unpaid? 2 If your practice needs more information on aging A.R. divide the A.R. based on CPT codes 3 and insurance. Here’s a sample report you can us form tracking A.R. www.medicalbillingstar.com

  4. Patient Payments – The Most Challenging… #2 The responsibility of the front desk staff gets even tough when the patients don’t listen or the staff doesn’t keep a track of patient collections. 1 It becomes a support for you if you have a report handy 2 Let’s say a dashboard that can help you keep a track of this indicator and thus prove your productivity. 3 www.medicalbillingstar.com

  5. #3 Productivity Report For Each Physician As medical practice converge under a single umbrella to better manage costs and operational bottlenecks, it is more important than ever to analyze the productivity of every physician on board 1 This adds to the list of practice financial performance metrics you should be tracking. 2 www.medicalbillingstar.com

  6. Net Monthly Collections #4 A concise report will help you understand the practice financial performance metrics and areas that need to be improved on. 1 A weak and staggering revenue cycle will bring the financial growth of your medical practice to a grounding halt 2 This allows you to have an eye on your medical practice performance metrics. 3 www.medicalbillingstar.com

  7. #5 Medical Coding Efficiency Reports It demands greater accuracy and granularity of data. 1 A detailed medical coding report will help increase coding throughput and spot the cracks in your medical coding process. 2 Tracking what your top paying CPT codes are will enable your organization to negotiate better performing contracts and increase revenue. 3 www.medicalbillingstar.com

  8. Track Payer Reimbursement Trends #6 A concise report will help you understand the practice financial performance metrics and areas that need to be improved on. 1 A weak and staggering revenue cycle will bring the financial growth of your medical practice to a grounding halt 2 This allows you to have an eye on your medical practice performance metrics. 3 www.medicalbillingstar.com

  9. TOLL FREE: 1-877-272-1572 Find more articles on Key Performance Indicator, find out what experts say 11517, Belvedere Ct Cerritos CA, US – 90703

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