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Milap  Inc  Practice  Analysis

"taking the guesswork out of your practice"


 

Do you gamble with your practice?

Heard about the three blind men describing an elephant?  Who do you think got it right??

Do you realize that, by not knowing and monitoring your Key practice indicators you could as well be throwing money down the drain???


 

+ service offered free with the Billing and claims reimbursement service

 

Primary Features of our practice analysis Service

*        A/R Analysis                           *        Patient Analysis

*        Payer Analysis                        *        Coding Analysis


For a very competitive and

free no-obligation quote

click on the link below to download and print the

"Physician Survey Sheet".

Fill the Form and Fax it to 248-395-9694.


 

A sampling of the value added reports

 

Value Added Report: Patient Analysis

Office

Visits Billed

Charges

Payments

Adjustments

Office A

1,250

120,625.00

83,450.00

31,045.00

Office B

565

87,010.00

64,550.00

20,764.00

Totals

1,815

207,635.00

148,000.00

51,809.00

This report provides monthly overview of patient visits, charges, payments and adjustments.

 

Value Added Report: Practice Income Sources

This report identifies the distribution of the revenue flows for the practice.  Based on the information, adjustments can be made to improve the overall profitability and health of the practice.

Source

Amount

Cash

12,100

Medicare

32,010

Commercial

78,500

BCBS

11,540

Other

360

HMO

9,040

Medicaid

4,450

Total

148,000

 

 

Value Added Report: Account Aging Summary

This report provides a summary of the current state of accounts, a snapshot of the current state of collections and the cash flow of the practice.

 

Office A

Office B

Grand Total

%

Current

83,450

64,550

148,000

71.28%

31 to 60

24,050

14,009

38,059

18.33%

61 to 90

8,330

5,031

13,361

6.43%

91 to 120

4,020

3,110

7,130

3.43%

> 120

775

310

1,085

0.52%

 

 

Value Added Report: Patient Visits

This report provides a summary of patient visits and identifies the mix of patients that were serviced.

 

Value Added Report: Revenue Trend Analysis

This report provides a month-by-month and YTD comparison of the performance of the practice.  This helps benchmark the practice performance and provides an opportunity to identify the trends early and make appropriate adjustments to the practice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value Added Report: Office Procedures

Description

Units

Code

EKG

16

 

Cryotherapy

3

 

Glucose Checks

16

 

Hapatitis B Vaccine (adult)

0

 

Hapatitis B Vaccine (child)

9

 

Influenza Vaccine

7

 

IUD Inspection

1

 

Lab Draw

37

 

Pregnency Test

5

 

Ear Lavage

4

 

. . .

. .

. .

This report helps visualize the distribution of the procedures performed at the office.  This helps as an evaluation tool for evaluating the workflow of the office staff and provides insight into potential scheduling changes.  This could also be used as a tool for potential forecasting of the supplies that need to be maintained at the practice.

Value Added Report: Practice and Patient Revenue Averages

Office

Payments

Patient Visits

Average Revenue Per Patient

Office A

83,450

1239

67.35

Office B

64,550

549

117.58

Overall

148,000

1788

82.77

This report provides a snapshot of the average revenues per patient for the practice.

  

Value Added Report: Productivity Index

This report describes the workload distribution of the staff and physicians at the practice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value Added Report: Patient – Payer Distribution

This report identifies the distribution of the patients and the payer whom they are associated with.  This provides information needed to make adjustments to improve the overall profitability of the practice.

Code

Payer

Payment Requested

Average Payment

99253

Aetna

145.00

125.00

 

Medicare

125.00

70.00

 

BCBS

145.00

120.00

93224

Fortis

270.00

210.00

 

Medicaid

210.00

155.00

 

 

 

 

 

Value Added Report: Average Payment per Code per Payer

This report identifies the average payment received for each of the codes that were billed for each of the payers.  This helps determine if the code is being paid by the payers as per the physician’s expectations with the potential to make informed adjustments to improve the overall profitability and health of the practice.

 

Value Added Report: Top Revenue Generating Codes in Descending Order

Code

Description

Frequency

Total Revenue

Average Revenue

% of Total Paid

99253

Initial Inpatient consultation

50

4000

80

90%

93224

Electo-Cardiographic Monitoring for 24 Hour

60

3600

60

85%

. . .

. . .

. . .

. . .

. . .

. . .

 This report identifies the top revenue generating codes.  The following are identified:

a)      Frequency of the code usage;

b)      Total revenue generated from the code usage;

c)       Average revenue generated from the code;

d)      % of total paid; 

 

Value Added Report: Least Paying Codes as a % of the Amount Billed

Code

Description

Total Amount Billed

Total Payment Received

Net Collection Percentage

99253

Initial Inpatient consultation

12000

4000

30 %

93224

Electo-Cardiographic Monitoring for 24 Hour

15000

7500

50%

. . .

. . .

. . .

. . .

. . .

This report identifies the least paying code as a percentage of the amount that was billed.  This helps to visualize the following:

a)      if the fee-schedule needs to be adjusted;

b)      if the code should be dropped in lieu of a higher paying code;

c)       if the code is not being accepted as a requirement by the payers;

d)      if more documentation needs to submitted to the payers;

e)      if pre-authorizations need to be done for these code;

 

Value Added Report: Highest Paying Codes as a % of the Amount Billed

Code

Description

Total Amount Billed

Total Payment Received

Net Collection Percentage