Published at Tuesday, May 25th 2021, 17:53:28 PM by Laurel Sparks. Expenses Spreadsheet. Its tough to get recognition in the office. If your boss depends on Excel spreadsheets as primary sources of management information, here are some tips to consider. You may be receiving some of the spreadsheets your boss gets. You may even be in charge of preparing a few of those spreadsheets that your boss depends on for management information. If both you and he are getting information from spreadsheets submitted by other departments or staff, then he depends on them for that information. But what if you were in charge of consolidating the information from all those spreadsheets? What if you assembled all that information into an Excel dashboard that you send to your boss every day? Why, then your boss would read YOUR work first and foremost. He would rely on your dashboard as THE most important spreadsheet he receives.
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Published at Saturday, May 22nd 2021, 23:30:17 PM. Bill Spreadsheet By Leola Griffith. Collections are a key part of the equation. This is the metric that tells you whether or not you are being paid successfully for your services. Specifically, your collections provide an indication whether charges are being billed correctly, being processed by payers, and being paid in a timely manner. This directly impacts the revenue factor in the profitability formula above. Unfortunately, the collections that your billing team is responsible for often go unmeasured, leaving you without a clear picture of how well youre really doing in terms of cash flow and profitability. Whether you outsource your medical billing or manage it in-house, its imperative to measure the performance of the team responsible on a monthly basis. But how do you accomplish that if you dont quite understand the billing process or dont have the time to dig through data and reports trying to figure out whats working or not? Waiting until your cash flow is down is not the time to begin measuring and managing the medical billing team. It should be a proactive, monthly exercise that takes minutes-not hours or days.
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Published at Saturday, May 22nd 2021, 20:38:49 PM. Bill Spreadsheet By Sandy Wade. Most practice management systems today have production or practice performance reports that will have most of the above information (charges, adjustments, collections, A/R, encounters). I typically review the last page of a report and pull the monthly totals for the 12-month period for each category. The drill-down detail is helpful once you have identified a trend or "red flag," but not needed for the initial analysis. Also, most A/R aging analysis reports will have the A/R balance and the "buckets" or number of days the balance is spread across. Step 2: Input data into "dashboard" tool (spreadsheet) Once you have that "raw" data, you need some sort of analytical tool to make sense of the information-that is, bring the numbers to life and tell your practices story. I typically provide my presentation attendees with a tool Ive created-called the "dashboard-which they can take back to their practices and utilize immediately. This "dashboard" is a spreadsheet that allows you to input your data and then calculates ratios into an easy-to-read format that can be shared with your owners, supervisors and billing staff. In the spreadsheet, input your data into the green cells only. The blue, grey and purple cells have preloaded formulas that automatically calculate averages and ratios to help you measure your billing performance.