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Published at Sunday, May 23rd 2021, 14:08:32 PM. Bill Spreadsheet. By Nellie Graham.

This article discusses how to accurately measure your medical billing performance and provides steps to perform your own analysis-with an easy-to-use "dashboard" tool that incorporates industry benchmarks or "healthy" ranges. The Importance of Medical Billing-and Revenue-Performance While its fairly easy to determine your profitability (revenue minus expenses equals profit), its critical-and more difficult-to measure your medical billing performance, which directly correlates to the revenue line. You and your administrator(s) may look at provider productivity (patient appointments and charges) as one metric; however, that does not tell the whole story.

How Do You Measure Medical Billing Performance? Throughout my 12 years consulting with medical practices, I have specifically focused on billing analyses. My presentations at national and regional meetings in recent years have focused often on financial analysis, benchmarking and measuring performance. Id like to share with you my proven methodology and steps for completing your own analysis-in just minutes-which will provide a general sense of how your medical billing performance measures up. The specific steps include: Pull data from financial reports Input data into "dashboard" tool (spreadsheet) Compare your results to industry benchmarks ("healthy" ranges) Identify practice trends and areas of opportunity Below I will outline the first two steps; tomorrow Ill walk you through the analysis process, and discuss the key data you should be looking at.

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