The percentage of our providers' total appointments within any month that are categorized as no-shows.
Every patient no-show in your schedule represents potential money not earned from a scheduled visit. By keeping no-show rates low, your practice can enjoy better financial health, successfully battling against the negative revenue drain of missed appointments.
Make reminder calls 48 hours before each scheduled appointment. Maximize efficiency by using an automated service.
Don't book so far in advance. The bigger the time period, the more often your practice will experience rescheduling or no-shows
Here's how to prevent open slots: Identify your most aggressive no-shows, and begin double-booking their times.
Days in Accounts Receivable (DAR) represents the time it takes to receive payment for an outstanding claim. Tracking begins the day the claim was entered on the athenaNet network.
Fewer days in DAR have a direct effect on improved cash flow. When claims are resolved quickly, practices are able to reduce their DAR and collect revenue faster.
Claims can be resolved faster when reviewed by the appropriate people within your practice, based on level of complexity.
The ways you prepare and submit claims can be a key to keeping DAR low. Efficient review measures will help keep claims clean.
Adjusting quickly to changing payer needs is vital to retaining a high first-pass resolution rate and getting paid faster.
Turn Around Time measures how long it takes athenahealth clients' practice staff to charge billing slip information after patient services are delivered.
When your practice enters patient charges as soon as possible, you're more likely to enjoy greater revenue. Timely entry reflects a high level of efficiency reducing (or eliminating) misfiled or missing slips, or denials due to expired filing limits.
If a hectic schedule makes charge entry impossible during check-out, make sure to enter all charges by the end of the day.
An advanced practice management system will track whether or not a slip was generated for each appointment.
Additional practice training and random audits can help ensure that billing slips are filled out clearly and accurately.
The percentage of our providers' claims that are fully adjudicated—paid or adjusted—within six months of submission.
If your Revenue Realization Rate is high, especially on a consistent basis, that means your practice is enjoying a steady cash flow, with few claims needing extra attention in order to be resolved.
During contract negotiations with payers, leverage high patient volume to secure better claim processing.
Take care of your denied claims immediately—especially complex ones—so adjudication can occur as fast as possible.
It's imperative to be well-versed in changing payer needs. This improves your first-pass resolution rate and gets you paid faster.
The Same-day Encounter Close Rate is the percentage of patient encounters at our clients' practices that are closed the same day as the visit.
Timely documentation of patient encounters is one of the best measures of an efficiently run practice, one that doesn't suffer backlogged encounters, and is generally prepared to file claims quickly and easily.
If a provider falls behind, consider temporarily switching to dictation or paper forms to get through the workload.
Assign appropriate work—intake, order entry, document handling—to practice support staff.
To keep performance high, analyze the number of patients seen each day and the expected complexity of those encounters.
The Delegation of Work measurement is the percentage of intake documentation at our providers' practices that has been assigned to staff.
When the appropriate documentation work is handed off to staff, providers can spend less time with the heavy burden of paperwork. This improves productivity and efficiency, and is a major contributor to running a profitable practice.
Begin delegating intake work to practice staff so providers can focus more on patient care.
Time is the key metric to determining efficient intake. Review the total minutes providers and staff spend on documentation.
Save your staff time by using a clear, efficient electronic health records service to manage intake and other documentation.
Fewer no-shows means more patient visits
for your practice. And greater revenue.
When claims spend fewer days in accounts
receivable, you get paid faster. Simple.
How quickly are charge slips entered
for payment? The fewer days, the better.
Enjoy a steady cash flow when charges
are paid or adjusted within six months.
Can you close more encounters within
the workday? A sure sign of efficiency.
When staff takes on documentation
work, providers are more productive.