If you want a "Frazzled" owner then all you need is a "Frazzled" revenue cycle management process.
Money will stress you out in private practice. And why wouldn't it? You send your claims into this strange world called a #clearinghouse and just hope and pray that there is a little money left over in the bank at the end of the month.
But you are in luck because there is a much easier way to manage your billing team that will give you peace, clarity, and certainty around your money. It will give you a little bit of "Headspace" so that you can put the money stresses aside so that you can focus on building your team, your business, and finding freedom and fulfillment in your life again.
Here are the KPIs (Key Performance Indicators) to track with your billing team:
1. Average Reimbursement Per Visit
2. % Collected Vs. Projected
3. % of Collections Greater Than 90 Days
4. Next Month's Projected Income
Let me know if I missed anything!
#medicalbilling #PTBusiness #privatepracticeownership