A running dashboard that will be updated monthly with new data.
KPI for medical billing
Net Collection Rate (Internal Benchmark >97%-Industry
Benchmark >95%)(Payments- Credits)/(Charges-contractual adjustments)X100
- Days in AR (Internal Benchmark < 40 days-Industry Benchmark < 45 Days)
- Divide Total AR by Average Daily Charges
- AR % over 120 days (Internal Benchmark <20% of Total AR-Industry Benchmark <25% of Total AR)
- Divide Total AR by AR over 120 days
- Net AR ( Internal Benchmark <10% of annual charges-Industry Benchmark <10% of annual charges)
- 6 Month Avg Charges-Payments-Adjustments=Net AR
- Clean Claim Rate (Internal Benchmark Under 2%-Industry Benchmark 5%)
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