In healthcare, as it is in many industries, cash is king. All healthcare systems have financial teams to dive deep into performance throughout the year, but on a regular basis many hospitals and practices assess the health of the revenue on cash flow alone. However, even at face value accounts receivable is only one metric to monitor.
Topics: healthcare revenue cycle management, medical accounts receivable, healthcare KPIs, healthcare data analytics, process improvement, 5 Metrics, benchmarking
To properly monitor, manage, and maintain your revenue cycle processes you must first understand where they are and how they got there. This is where benchmarking comes in.
Topics: healthcare revenue cycle management, extended business office, insurance denial management, healthcare KPIs, healthcare data analytics, process improvement, benchmarking
In healthcare, as it is in many industries, cash is king. Of course your financial team will deep dive into financial performance throughout the year, but on a regular basis many hospitals and practices assess the health of their revenue cycle based on cash flow alone. However, accounts receivable is only one metric to monitor. Here are five additional simple key metrics that have been identified by the AAFP to measure regularly to ensure the health of your revenue cycle.
Topics: healthcare revenue cycle management, insurance denial management, medical debt collections, healthcare KPIs, healthcare data analytics, process improvement, 5 Metrics, benchmarking
