As medical practices strive for accurate and effective revenue cycle reporting, there are certain monthly reports they should continually pay attention to, according to Charles "Chuck" Duva, MD, CEO of DuvaSawko Emergency Medicine Billing.
Dr. Duva shared these three monthly reports practices should run with Becker's Hospital Review.
"1. Rolling Accounts Receivable Aging Bucket — Your billing department should be diligently following up on the denials, and should be able to let you know which types of denials are affecting your collections and cash flow the most.
2. Rolling accounts receivable by payer per provider — This is the most efficient way to track monies due from secondary and tertiary commercial payers as well as the patient responsibility portion of your claims.
3. Trend analysis of dollars collected per relative value unit per payer — ensures proper payment per contracts for commercial and government carriers."
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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