Why should you care about using a report to identify Key Performance Indicators?
- Performance can be measured over a specific time period
- Staff transparency and accountability
- Identifies problem areas
- Increased Revenue
- Better overall delivery of care
Average Cost per Encounter
- Total operating expenses divided by the number of office encounters
- Are the cost of encounters costing more than the Revenue intake?
Average charges per visit
- If your charges are on the low side, you may consider adjusting your fee schedule.
Days claims stay in Accounts Receivable
- How efficient is your Revenue Cycle?
- Total Payer A/R
- Are there certain Insurance companies that aren't paying claims?
- Are there specific CPTs that are not being paid?
- Total Patient A/R
- Are there patients with high outstanding balances?
Total Revenue
- With high deductibles, more responsibility falls to the patient.
- How well are you doing collecting Patient balances?
- Break down by Payer and Patient
No shows and missed appointments
- Costs your office money
Claim denial rate
- If claims are being denied, it is costing your office money and delaying payments
- Why are claims being denied:
- Coding errors?
- Eligibility denials?
- Out of Network?
- Denial for Diagnosis?