With the right practice management tools, there is no limit to the data your practice can track and measure. Many of the key performance indicators (KPIs) practices should actively manage relate specifically to the revenue cycle function.
When measuring your practice performance, there are typically two industry standards used. First, compare your statistics from year to year. Flag areas of concern and areas of high performance. For example, are your charges and payments equal to, greater than or less than the previous year? If significant variances exist, look at the data on a monthly basis to see if you can identify cause and effect events.Read More