Do you know how the work load of your billing staff is allocated?
Do you know how much revenue, number of invoices, number of patients, each staff member is responsible to bill and collect?
Do you track how much cash each staff member generates each month?
Does your staff receive feedback each month on the indicators of successful management of their billing and A/R?
Reports are one avenue to management information and also serve the purpose of informing each member of the staff of his/her contribution monthly. It is easy to view a report and see the even / uneven distribution of the workload by the total A/R by biller/collector. Measurement of productivity is an excellent means of demonstrating effectiveness of current staffing and predicting the point at which additional staff may be required. Consistent feedback on performance allows staff to know where they stand as a member of a team and provides managers with much needed quantifiable data for the annual review.
The Home Infusion Reports library provides excellent reports for the purpose of measuring productivity and giving staff feedback.
Some examples are:
- A/R Aging by Collector (Includes # patients and # invoices)
Ø Provides total A/R each “cradle to grave” biller is responsible to bill and collect
- Payment Aging by Collector (Includes average age of claim when payment is received)
- Revenue by Biller
- Credit Balance Report
Ø Stay current with the status of refunds required to be worked in 45 days
The monitoring of reports for patient and invoice distribution allows managers to allocate the workload. Each business varies by the amount of electronic claims generated but one rule of thumb is when the A/R of an individual biller reaches $1 million dollars you are fast approaching the threshold for adding a support person or another biller depending upon volume and the age of the individual buckets of A/R.
Pearl Shores
Shores Enterprises, LLC
760-518-9329