Practice Analysis
Practice Analysis
Key Performance Indicators (KPIs) in Revenue Cycle Management
Our comprehensive practice analysis includes the assessment of 21 critical revenue cycle management metrics. Here are some of the key KPIs we evaluate:
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
The bad debt rate is the percentage of A/R that must be written off due to uncollectibility. Keeping this rate low is vital for a profitable practice.
This metric measures the efficiency of collecting payments for services provided, expressed as a percentage of net patient service revenue.
Charge lag refers to delays between the provision of services and the entry of charges. Minimizing charge lag helps improve cash flow.
CCR indicates the proportion of claims submitted without the need for manual intervention. A higher CCR means fewer delays and reduced costs.
This metric assesses the cost efficiency of your practice by measuring the expenses incurred to collect payments for services provided.
This is the average number of days it takes to receive payment for a claim. Lower days in A/R improve cash flow.
DNFB measures instances where a patient has been discharged but the final bill has not been submitted.
DNSP refers to cases where claims have not been submitted for treated and discharged patients.
This rate shows the percentage of claims denied by payers and highlights areas for improvement in your RCM process.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
First pass yield measures the percentage of claims paid correctly on the first submission, reducing denial rates.
This rate is the total payment received compared to total charges.
NCR is the percentage of payments received out of what is contractually owed by insurance companies.
These metric measures if payments received match the expected amount, considering both underpayments and overpayments.
This rate measures the percentage of patient out-of-pocket charges collected.
This KPI assesses how much of a provider’s appointment schedule is filled.
This rate measures the percentage of payments collected at the time of service.
The resolve rate evaluates the overall effectiveness of your RCM process, including eligibility, coding, and billing.
This measures the average revenue generated per patient visit, helping estimate future revenue.
RRR indicates the percentage of charges collected or adjusted.
Improving Financial Performance through KPI Tracking
Understanding and tracking your revenue cycle KPIs allow you to identify areas of weakness and set improvement goals. By benchmarking your metrics against industry standards, you can enhance your practice’s financial performance and streamline your RCM processes.
Let AAAMB help you optimize your revenue cycle management for a healthier financial future.
Key Benefits of Our Eligibility Verification
Increased Revenue
By ensuring that services are billed to eligible patients, we help increase cash collections and reimbursements.
Operational Efficiency
Our process reduces staff time spent on handling denials and errors, enhancing overall efficiency.
Improved Cash Flow
Timely verification helps minimize bad debts and slow collections, ensuring a steady cash flow.
Cost Savings
Electronic eligibility verification reduces costs associated with manual, paper-based processes.
Your Savings with AAAMB
Reduced Paper Handling Costs
- Transitioning to electronic verification significantly cuts down costs related to paper-based processes.
Enhanced Savings Per Physician
- Our streamlined process translates to substantial annual savings per physician.
Experience a Streamlined Workflow
- With AAAMB’s eligibility verification services, enjoy a simplified workflow and increased revenue. Our meticulous process ensures that your practice operates efficiently, without the stress of dealing with ineligible patient billing. Let us help you maintain a financially healthy practice with reliable eligibility verification.
