5 Key Takeaways

• 1

  The presenters described KPIs as tools for monitoring a practice’s financial health and identifying revenue cycle problems that need attention.

• 2

  Revenue cycle management involves the entire practice team, and KPI data can come from practice management systems, clearinghouse dashboards, and financial records.

• 3

  Practices can track monthly gross charges and cash collections using trailing 12-month totals divided by 12, then investigate results below their averages.

• 4

  Days in accounts receivable equals total A/R divided by average daily charges; the presenters recommended aiming for fewer than 25 days, depending on payer mix.

• 5

  The presenters cited a denied-claims benchmark below 5% and a credit-balance benchmark of 2% to 3%, and recommended prompt review and correction.