Key Performance Indicators
Gross Collection % - Measures revenue cycle cash flow, assists in predicting cash flow
Net Collection % - Measures Revenue Cycle efficiency
RVU by Provider - Measures Productivity of Providers
Aged Accounts Receivable by Practice, Payer & Provider Trending indicator of receivable again and collectability
Days in AR - Measures Revenue Cycle effectiveness & efficiency
Charges/Collections per RVU per CPT Code - Measures consistency in Charge Master
Charge Entry Lag - Measures Opperational Efficiency
Days to Pay by Payer and Patient - Measures delay in payment/cash flow
Self Pay Percentages - Measures amount of cash owed from patients
Bad Debt Percentages - Measures the quality of the AR
Active Accounts/Follow Up - Measures staffing needed in the business office
Denial Rates by CPT by Payer - Tracks payer denials and impact on cash flow and trends payment opportunity and process improvement
Operating Cost - Measures the cost and profitability
Charges Collections per RVU per CPT Code - Measures consistency in Charge Master
Time of Service Collections - Measures the effectiveness of the front office staff
Payer Mix Trend - Percentage of business by payer trended over a defined time frame
Year to Date Collection Rate by payer - The percentage of payments received on charges submitted by payer YTD
Insurance Verification/Eligibility Rate - The percentage of claims dropping from the host system for billing with no errors detected
Clean Claim Rate - The percentage of claims dropping from the host system for billing with no errors detected
No Show Rate - Measures the number of times appointments are not kept
Cancellation Rate - The rate of visits and/or services cancelled
New Patient Percentages - Measures the new patients coming to the practice
Visit Code Ratios - Measures actual work to expected curves
E&M Management Coding Distribution - Review of E&M Coding activity to provide insight into the overall level of E&M based services deliverd to patients
They say if you can't measure it, you can't manage it. Some of the Key Performance Indicators, (KPI's) can be identified in most common Electronic Health Record systems. Are you able to easily capture and report this information?
Let Revelocity help you track and monitor your organization's KPI's. Our reporting capabilities make it easier for you to gather the data and begin to measure your collected information intelligently.
Revelocity, along with a few of our preferred partners, has collected the most important KPI's recognized by the healhcare industry which have been compiled and listed on this page for your reference.
