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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??? |
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|
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. |
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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 |
|
|
. .
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. . |
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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% |
|
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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% |
|
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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 |
|
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