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Get the secret to uncovering hidden revenue

Here are four revenue cycle KPI pitfalls to avoid.

Traditional revenue cycle management KPIs are outdated, and your PM/EHR systems can’t provide the data transparency you need.

Here are four essential questions to ask that may be the key to uncovering hidden claims in your revenue cycle.

  1. Are days In A/R accurate?
    Compute the metric properly by looking at write-offs that might be collectible, fluctuations in charge volumes, built-in charge lags, and credits to get a clear picture of days in A/R.
  2. How does your billing performance stack up?
    Gross Collection Rate (CGR) is a good indicator of your chargemaster, but it’s not always reliable because of variances that exist between fee schedules, and it may be skewed when comparing time periods. It’s important, therefore, to compare your billing performance to other peer groups in your city, state, and across the U.S.
  3. Is the Net Collection Rate (NCR) inflated?
    Measure contractual and non-contractual adjustments separately and measure NCR with matched monies (liquidated charges) rather than what was posted for the month to get an accurate NCR.
  4. How is denials percentage calculated?
    The actual denials percentage can be skewed by looking at denials posted last month against charges entered last month, or by looking back when the claims are more fully adjudicated and match the denial received to the charge it was posted against. To get a clearer picture of this metric, simply match the data to the charge.

Viewgol gives you revenue cycle KPIs that count.

4 revenue cycle kpi pitfalls infographic