The shift to value-based care and patient financial responsibility is putting more pressure on providers to focus on the efficiency of their billing processes. Key Performance Indicators (KPIs) will help you both understand the strengths of your business and identify areas for process improvement. Here are five KPIs every CFO should be tracking right now to efficiently allocate resources and improve revenue cycle workflows. Total Charge Lag
Point of Service Collection Rate
Days in Receivables Outstanding (DRO) Denial Resolve Rate Cost to Collect Sources: Bio: What are KPIs in medical billing?Medical Billing Metrics, or Key Performance Indicators (KPIs) help practices understand their revenue cycle and provide insights to increase collections. Monitoring your practice's financial performance while providing exceptional patient care is vital to your medical group's success.
What is KPI in RCM?RCM KPIs enable benchmarking of your revenue cycle's performance with industry peers on the responsiveness of your patient access team, quality of your clinical documentation, the effectiveness of your cash flow cycle, and compliance with guidelines.
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