Medcon's Metrics for Successful Anesthesia and Pain Management Practice Management
Cash collected and client satisfaction are arguably the most critical billing performance measurements. Medcon compliments cash collected with the following benchmarks providing additional insight into your practice’s billing and collections performance:
Net Collections:
- Medcon Target is greater than 98%
- [Cash / (Gross Charges – Adjustments)]
- Measures collections success.
Days-in-A/R:
- Medcon Target is less than 40 days.
- [Step 1. Total gross charges for most recent three months / # of days in those three months = Average Daily Gross Charges. Step 2. Total gross accounts receivable/ Average Daily Gross Charges = Days’ Charges In A/R.]
- Measures collections velocity.
Bad Debt Recovery:
- Medcon Target is less than 3%
- [Collection Agency collections / Total placed with Collection Agency]
- Measures if billing office is collecting all it can. Collection agency fees top 25% in some cases.
Contact Medcon’s experts at anytime with Performance Benchmarking questions & to arrange a meeting
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