Noticeable & Increased Profit
MeBilling passes through the performance of practice with an intellectual analytical system. That System points out the flaws and inefficient areas of the work performance of the practice. MeBilling's skilled staff got noticeable success and increased revenue after going through these analytics.
Performance Analysis provides an enormous set of reports to clients. These reports reflect a wide range of critical analysis and comprehensive assessments about the practice performance. The medical provider takes advantage and early projects effective reforms necessary for the continued success of an organization.
Performance Evaluation
The metadata of an organization is collected to evaluate the performance of the Revenue Cycle. Data may include medical records from the front office, billing and coding data, and the percentage of reimbursement received from payers.
Statistical Analysis of KPIs
Maintaining the KPIs means the organization is keen and concerned regarding the entire process of an organization.
KPIs take the best care of the average time of a claim it takes to be paid. A benchmark of 30 to 35 days is set in Account Receivable. Keeping this performance metric keeps the practice healthier with smooth cash flow.
Clean Claims or first-pass claims ratio also leaves a visible impact on practice health. Clean claims process faster than denied ones. So, we gauge total time spent on a claim reworked and pinpoint the denial reason to avoid delayed processing of claims.
Understanding the major payers and their requirements is another key role of performance. We keep monitoring the annual fee schedules, renewal of expired contracts with major payers. Adhering to the requirements of major payers to ensure that services or codes are covered under the patient’s current plan. Other necessary tasks like prior authorization, modifiers, and patient demographics are also considered to ensure superlative performance.
Trustworthy Measures of Quality
Intelligent reports are generated based on clinical services which provide a clear vision to estimate the running statistics of an organization.
Quality is considered to be a cornerstone of any business. Substandard and low-quality performance can take the practice downwards. Irregular reimbursements are the result of inferior work quality.
We have been serving with the fresh model of clinical analysis comprising of Meaningful Use (MU), Provider Quality Reporting System (PQRS), Pay for Performance (P4P), PCMH (Patient-Centered Medical Home), and Accountable Care organizations (ACOs).
This model showcases both financial and economical analytics. Our technical analysts provide a great reflection of clinical services as well as the operational performance of the organization.
Provider Productivity Metrics
A broad range of reports is compiled to gauge the performance and productivity of providers. These reports are made after the mutual collaboration of technical consultants of healthcare and analysts. Managers arrange the informational data to help to make these reports. Acquired information described below:
Individual provider productivity and influence on the practice are measured.
A comparison with multiple practices is made up to show whether the benchmarks were attained or not. Strengths and week areas are defined
These reports stimulate the provider’s responsibility and urge providers to adopt a high-quality culture to have performance and services at a glance.
Providers are also educated not to misuse the levels of evaluation and management because regular use of incorrect codes can decrease the revenue of the entire practice.
