Bill Sample / December 9, 2018 / Mabel Cooke
Useful metrics must be comprehensive and simple. They must combine both complete end-to-end processes and their individual components. Metrics must be used consistently over time and compared to standards. Obviously different standards apply to different medical specialties patient demographics payers and samples of CPT codes. Medical billing metrics typically include compliance cash balances charges accounts receivable and collection ratios to help monitor cash flow. This article focuses on performance metrics. For discussion of compliance program see companion article on Medical Billing Compliance. Collection Ratios Traditional metrics include gross and net collection ratios. Both metrics are subjective to individual practice because they compare (often arbitrary) charges to (allowed) payments.
This number has improved down to 17.7% in 2004. In summary comprehensive and charge-invariant metrics such as PARBX are more informative and objective than collection ratios. However these metrics alone fall short from identifying specific areas for billing process improvement. Modern technology helps identifying billing bottlenecks as it allows interactive review of multiple metrics along different aggregation dimensions. For instance PARBX metric is especially helpful to identify patterns of problem claims containing specific payer or CPT code. Further modern Vericle-like technologies enable comparison of every payment to allowed amount and subsequent appeal on every denial effectively reducing the average percent of accounts receivable to low single digits.
But there are other survey companies that will reward you with points. Over time these points accumulate and you will get great free gifts that are redeemable with the points. The process works well as each reliable company has thousands of people registered with them from all over the world. Another advantage is that all these survey sites send you samples that you can use for your review process in taking surveys. So along with money and free gifts you are also likely to get samples that are sent directly to your postal address. The only drawback with the free online surveys is that the number of surveys that you get will depend on the geographical location you are located at. As a result always make sure to send in a complete and detailed profile with the correct address or you could lose out on surveys and samples too.