Key Performance Indicator (KPI) Archives

PracticeMax Named one of 10 Most Promising Revenue Cycle Management Solution Providers

Accountable Care Organizations (ACOs), Anesthesiology, Assisted Living, Billing, Business Intelligence, Coding, Company Buzz, Compliance, Contracting, Electronic Health Records (EHRs), Emergency Medicine, General, Hospital Based Practices, Hospitalists, ICD-10, Integrated Delivery Networks (IDNs), Key Performance Indicator (KPI), Marketing, Medical Homes, MU/EHR Optimization, Office Based Practices, Patient Engagement, Practice Management, Primary Care, Radiology, Regional Extension Centers (RECs), Satisfaction Research, School Districts, Surgery, Uncategorized, Urgent Care / PracticeMax

PracticeMax was recently named one of the 10 Most Promising Revenue Cycle Management Solution Providers by Healthcare Tech Outlook magazine. A panel of CEOs, CIOs, CMOs, VCs and editorial board helped the magazine recognize 10 revenue cycle management vendors that “showcase extensive business knowledge and innovative strategies combined with talent based across locations.” PracticeMax […]

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Key Performance Indicator: Collection Percentage

Anesthesiology, Billing, Business Intelligence, Emergency Medicine, General, Hospital Based Practices, Hospitalists, Key Performance Indicator (KPI), Office Based Practices, Practice Management, Primary Care, Radiology, Urgent Care / PracticeMax

Perhaps one of the most overused yet least significant KPIs, Collection Percentage measures what percent of accounts are being collected for a medical practice. Consider Practice A that collects 95% of a $50 charge ($47.50), and Practice B that collects 80% of a $75 charge ($60.00) for the same level of service. Would you rather

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Key Performance Indicator: Accounts Receivable (AR) Aging

To classify AR by its age, you must measure the time since a particular service was billed. Payments due for services in the past thirty days are placed in the 0-30 day bucket, those billed between thirty one and sixty days are placed in 31-60 day buckets, etc. While monitoring your AR aging is important,

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Key Performance Indicator: Days to Bill

This key performance indicator (KPI) measures how long it takes a bill to leave the facility and go to the insurer after the date of service. While timely submission is important, some providers may get worried when this KPI reached more than six or seven days and encourage their staff to “hurry up” and get

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Key Performance Indicator: Revenue per Unit

Key performance indicators (KPIs) can help medical practices and organizations track their revenue goals more effectively. The most important KPI is Revenue per Unit where unit may stand for claim, case, procedure, visit, patient encounter etc. Individual practices may determine what the appropriate unit of measure is for their group and it will vary based

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