2019 New Year Practice Billing Checklist

Commensurate with the new year, it is considered best practice to review your practice's goals, policies and procedures and communicate them to your staff. Below is a short checklist of 10 key items that every practice should review annually to ensure their practice and billing performance for the new year kicks off on the right foot...

PAIN PRACTICE BILLING PERFORMANCE – UNDERSTANDING NET COLLECTION PERCENTAGE

In October 2017, we began our review of Measuring Practice Billing Performance, and explained that there is no “silver bullet”, or single measure, that assesses overall performance, but rather a series of key measures to understand and monitor monthly. These measures include, but are not limited to: Accounts Receivable (A/R) balance, A/R Days Outstanding, Net Collection Percentage, and % of A/R greater than 120 days old. In this issue, we will review the calculation and meaning of Net Collection Percentage.