The transition to ICD-10 will impact very aspect of your practice including processes, systems and staff. As the October 1, 2015 deadline approaches, take this opportunity to check in on your progress by answering the following questions for your practice. 1. We have evaluated superbill alternatives to accommodate the new ICD-10 code set? 2. We […]
Category: Radiology
Key Performance Indicator: Collection Percentage
Perhaps one of the most overused yet least significant KPIs, Collection Percentage measures what percent of accounts are being collected for a medical practice. Consider Practice A that collects 95% of a $50 charge ($47.50), and Practice B that collects 80% of a $75 charge ($60.00) for the same level of service. Would you rather […]
Electronic Charge Documentation for ICD-10
To accommodate the increased specificity and number of codes in ICD-10, superbills may become up to fifteen pages in length depending on the specialty. For this reason, paper superbills may become obsolete and providers will need a new tool like MaxMobile that provides point of care capabilities and synchronization. PracticeMax‘s Maxmobile is a web based […]
Key Performance Indicator: Accounts Receivable (AR) Aging
To classify AR by its age, you must measure the time since a particular service was billed. Payments due for services in the past thirty days are placed in the 0-30 day bucket, those billed between thirty one and sixty days are placed in 31-60 day buckets, etc. While monitoring your AR aging is important, […]
