FINANCIAL REPORTS AND TRANSPARENCY
Financial reports are an essential tool to have in order to manage your business. We will meet with you regularly to review the financial reports and the key performance billing indicators for your group. We will work with you to analyze areas for improvement and will use these reports to assist you in the management of your revenue cycle.
Your billing processes should deliver actionable metrics regularly accurately. PRS will ensure procedures are being captured and processed to deliver proper insights that can maximize your revenue. This is why it is important to have a reliable partner like Physician Revenue Solutions that will validate charges and production.
committed to transparency
We are committed to complete transparency with regard to the content of your practice management reports. Transparency does more than just give you peace of mind and actionable intelligence about your finances. Transparency can help increase collections and provide flexibility when you need it most.
Knowing is half the battle. We will work with you to take the data and turn it into wisdom and action. Truly actionable intelligence that allows your practice to stay nimble and financially stable.
Let Physician Revenue Solutions help you unravel the complexities of billing financial reports by delivering to you intelligence
KEY PERFORMANCE INDICATORS
At Physician Revenue Solutions we look through your Key Performance Indicators with you to ensure each one is being met. Choosing the right KPIs relies upon knowing what’s good for you and your bottom line. Key Performance Indicators for medical practices differ from those in other fields because of the complex nature of medical billing and dealing with patients, collections, and insurance companies.
Some Key Performance Indicators include but are not limited to:
- Outstanding Collections
- Average Days in Accounts Receivable
- Percentage of Collections in Accounts Receivable over 120 days
- Denial Rate of Claims
- Net Collection Rates
- Reimbursement dollars divided by insurance carrier
- Reimbursement dollars divided by procedure
*We offer sliding and flat fee billing schedules, and can beat almost any rate! Terms and conditions may apply. Please contact us for a free quote!