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Spreadsheet To Track Bills

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Published at Saturday, May 22nd 2021, 19:41:51 PM. Bill Spreadsheet. By Sandy Wade.

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Accurate Data: Make sure data being pulled is accurate. I recently received a practices information that was not consistent from one report to another. For example, the A/R Report stated there was $230,000 in outstanding A/R, while the Production Report listed $1,300,000 in A/R. Obviously, this huge discrepancy indicates something wrong-either with the report pulled or the included data. Pay close attention to accuracy of the data you pull. It should be straight forward and consistent. Clinical vs. Cosmetic Data: Its highly recommended to separate your clinical (insurance reimbursed) data from your "fee for service" data. This enables you to review the data separately, as well as combined (total practice). Its important to know that "fee for service"-related data will have an impact on certain ratios and calculations, since there are no adjustments associated with those charges and payment is typically collected at time of service (e.g., no A/R balances). Some industry benchmarks report data with fee for service and others so be aware these variances will impact the ratios because those numbers vary significantly.

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