Front Desk Operations

By the Numbers: What to Track Monitoring and measuring is critical to boosting revenues, said Reed Tinsley, CPA, a Houston-based healthcare accountant and business adviser. The following are 10 key practice numbers you should be tracking on a regular basis and how to recognize signs of problems: • Gross and net collection percentage • Accounts receivable: Days in A/R, A/R Ratio, A/R in excess of 90 days • Collections by payer • Front-desk collections: The percentage of copayments collected and patients with A/R balances • How quickly visits/procedures are billed • How long it takes to get paid by payers • Percentage of insurance eligibility verifications vs. total scheduled patients • Average number of missing charges vs. services rendered (actual and CPT mistakes) • Claim denials: Percentage of denials vs. total claims filed and percent of denials appealed successfully vs. total denials. • Average days between receipt of payment and payment posted The following “red flags” might indicate financial problems that require further investigation, said Tinsley: • A sudden change in A/R tendencies • Sudden changes in production by physician • Escalating overhead costs • Doctors holding their paychecks • Not paying vendors on tim