Physician practice metrics to benchmark and monitor

 

Need a complete list of non-accounting metrics to benchmark and monitor; here you go (If any others please send to me at reedt@rtacpa.com):

  • Gross Collection Percentage
  • Net Collection Percentage
  • Days in A/R
  • A/R Ratio
  • A/R in excess of 90 days old
  • Clinical/Procedure/Ancillary Encounters
  • Provider Work RVUs
  • Charges by Payor         
  • Collections by Payor
  • Payor Collections by Physician
  • Referring Physician by Physician
  • E/M coding comparisons
  • Average Wait Time in Reception Area
  • Front desk collection success
    • Copayments
    • Patients with A/R balances
  • How quickly visits/procedures are billed
  • How long does it take to get paid by payors
  • Percent of scheduled patients vs. available visit/surgery/procedure appointment times
  • Percent of insurance eligibility verifications vs. total scheduled patients
  • Recall visits vs. recalls available
  • Average number of missing charges vs. services rendered (actual & CPT mistakes)
  • Percent of denied/rejected claims vs. total claims filed
  • Percent of denied/rejected claims appealed successfully vs. total denial/rejections
  • Average days between receipt of payment and payment posted
  • Average number of unpaid claims resolved by day per collector

 

Have questions? I’m here to help.

This field is for validation purposes and should be left unchanged.
This field is for validation purposes and should be left unchanged.
Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA