In this last article of our series on the seven most important RCM metrics, we’re focused on calculating gross and net collections and understanding how much of your earned revenue is truly hitting your bottom line.
When healthcare providers regularly calculate claim denials and interpret this metric, it gives them a clear path to increasing cash flow, optimizing performance, and reducing administrative waste. In this article, we’ll help you learn to calculate your medical claim denial rate, why it’s important, what industry benchmarks to strive for, and how to reduce your denial rates over time.
For any medical practice, understanding how much revenue is generated per patient visit is one of the most revealing key performance indicators of overall financial health. In this article, UnisLink defines Average Revenue per Encounter and how to calculate it for your practice.
Two of the most critical metrics for any healthcare practice to monitor are Days in A/R and A/R Over 120 Days. These key performance indicators (KPIs) serve as early warning signs for underlying billing and collections issues, offering clear targets for improvement. Learn how to calculate these top metrics and how to improve them.
A well performing medical practice will experience high patient satisfaction, efficient RCM billing processes, speedy healthcare insurance reimbursements, strong patient cash payments, and strong overall revenue performance. Measure the health of your own practice against the seven metrics outlined in this article that provides a clear snapshot of your financial performance.
Healthcare providers paying close attention practice analytics will identify areas for improvement and make data-informed decisions to drive better outcomes.
Did you know that independent practices spend a staggering 30% of their time on administrative tasks related to revenue cycle management (RCM), according to The Commonwealth Fund Focus Report on Controlling Healthcare Costs. In fact, administrative complexity is the...
By harnessing the insights taken from RCM data analytics, healthcare practices can identify inefficiencies, streamline processes, and optimize financial performance. Read how understanding and utilizing RCM data analytics can be a game-changer for healthcare practices aiming to enhance their operational efficiency and financial health.