Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: asilva03 on September 17, 2012, 12:48:12 PM

Title: Tracking Results
Post by: asilva03 on September 17, 2012, 12:48:12 PM
I wanted to know how everyone else is tracking their results for their clients?  I am looking for a way to show how much revenue has increased since taking over an account, but unsure how to go about obtaining this information.


Title: Re: Tracking Results
Post by: DMK on September 17, 2012, 01:15:40 PM
I don't know how others do it as a billing service, but, my PM software has a "clinic details" report.  It shows amount billed, amount collected, amount written off.  Month by month, quarter by quarter.  I can print last year's and compare it to this years.

One thing I will say about figures is that billing appropriately and figuring out what you EXPECT to get makes the numbers better and helps the doctor anticipate what's coming. 

For instance, say you bill $100 for a new patient exam (to all insurances), each insurance company has their own allowed amount.  You need to make sure you know what those amounts are and who the majority of your payors are.  Example (for us) B/C pays $30.56, B/S pays $72.45, M/C pays $0, PI pays 100%.  So a 50% write off for this code is NORMAL.   If your billed out $10,000 and collected $5,000 that's NORMAL, any more or less than that and you need to look at what's happening.  Did your insurance base change? 

If the patients aren't paying their co-pays or deductibles, or claims are unpaid for mistakes, that's a hard hit.  So, again, look at billed/received/write offs.

Hope that makes sense, and helps in some way!
Title: Re: Tracking Results
Post by: Michele on September 17, 2012, 03:37:27 PM
Our PM lets us do monthly analysis and yearly analysis reports.  They show all billed out, insurance payments, contractual adjustment, patient payments, write offs, etc.  It is very helpful.
Title: Re: Tracking Results
Post by: asilva03 on September 17, 2012, 04:43:29 PM
Thanks DMK and Michele.  This information was very helpful.

I want to make sure that that I know how much we have increased a provider's revenue from prior to our take over of the billing processes to the present.  I feel this is very important on both sides.  I will make sure that I have the complete analysis reports to refer back to as well.

Thanks again!!!

Title: Re: Tracking Results
Post by: PMRNC on September 18, 2012, 11:57:38 AM
Remember it doesn't matter what PM system or reports you use or do, good data in is good data out. If the person who entered the data was NOT detailed enough you won't get the report data you need. DETAILED data entry is essential to good reporting.