Our comprehensive RCM scorecard provides a clear and concise snapshot of your current performance across key metrics.
We then compare your results against SYNERGEN’s standards to identify areas for improvement and implement targeted strategies for optimal financial health.
The following KPIs are identified and analyzed:
1. Days in AR
Measures the average number of days it takes to collect payments after a service is rendered.
2. 90+ Insurance AR %
Represents the percentage of insurance accounts receivable that are older than 90 days.
3. 90+ Patient AR %
Indicates the percentage of patient accounts receivable that are older than 90 days.
4. Net Collection %
Assesses the efficiency of collections by comparing the total amount collected to the net amount expected.
5. Fully Written Off as a % of Net Revenue
Shows the proportion of revenue that is written off as uncollectible.
6. DOS vs. DOE (Date of Service vs. Date of Entry)
Measures the time lag between the date a service is provided and the date it is entered into the billing system.
7. Fully Adjusted Off CPTs %
Indicates the percentage of CPT codes that are fully adjusted off, showing where charges are not being collected at all.
8. Paid % 60+
The percentage of payments that are received from the payor after 60 days from the date of service.
9. Top Denial Categories
Identifies the most common reasons for claim denials, such as patient eligibility, bundling errors, and exceeding timely filing limits.
Benefits of Our RCM Scorecard
- Benchmarking: By comparing your KPIs to SYNERGEN’s standards, you can gain insights into how your organization compares to best practices.
- Targeted Improvements: The scorecard highlights specific areas for improvement, allowing you to focus efforts where they will have the most significant impact.
- Actionable Insights: With clear data and benchmarks, you can develop targeted strategies to enhance your revenue cycle management, ultimately improving financial performance and operational efficiency.
- Ongoing Monitoring: Regularly updating and reviewing the scorecard helps track progress over time, ensuring that implemented changes are effective and sustainable.
Curious to see how your revenue cycle stacks up? Request an assessment.
