Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: rmk123 on October 15, 2012, 06:18:17 AM

Title: Performance=Results Based Compensation
Post by: rmk123 on October 15, 2012, 06:18:17 AM
Our comp. structure is based on performance=results. Use key financial indicators as measurement. What suggestions do you have for additional metrics? Billers handle claim from start to finish, excluding charge entry. Thanks!

Title: Re: Performance=Results Based Compensation
Post by: Michele on October 15, 2012, 06:36:48 AM
Not sure I know what you are asking.  Are you saying you pay employees based on performance and you are looking for indicators to measure by?

Sorry, but it's been a rough weekend!
Title: Re: Performance=Results Based Compensation
Post by: rmk123 on October 16, 2012, 01:56:22 PM
Yes, that's correct. There are key financial indicators I use as a baseline, however, when it comes to number of claims they should be handling, I haven't found metrics for the type of biller who handles a claim from start to finish, only per role type in the billing process (i.e. charge entry, patient follow up, payment posting, etc.).



Title: Re: Performance=Results Based Compensation
Post by: Michele on October 16, 2012, 07:46:42 PM
When we check performance we look at figures such as billed out, collected etc, and we also look at error rates and percentage of receivables out over 30 days, 60 days etc.
Title: Re: Performance=Results Based Compensation
Post by: rmk123 on October 18, 2012, 02:24:50 PM
This is helpful. Thanks!