Why use the Executive Summary Report?

Why use the Executive Summary Report?

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

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