Customized reporting is essential for medical practices as it not only ensures financial stability but also enables data-driven decision-making, compliance adherence, and ultimately, improved patient care and satisfaction.
Understanding the financial pulse of your medical practice is crucial for its success. Regularly running specific medical billing reports can provide valuable insights into your practice’s performance, revenue cycle metrics, and payment patterns. PBS specializes in preparing these essential reports to help you optimize your practice's financial health.
The Accounts Receivable (A/R) Aging Report serves as a barometer for your practice's financial well-being. By breaking down claims based on their unpaid duration, it reveals how efficiently your billing department is operating. Typically, claims take about a month to be reimbursed. Our experienced medical billers analyze this report, identifying potential issues and offering detailed follow-ups to resolve them promptly. This report offers both a panoramic view of potential problems and a close-up analysis of their root causes.
The Key Performance Indicators (KPI) Report provides a comprehensive overview of your practice’s revenue cycle management. It helps identify trends, highlighting profitable CPT codes and encounters. This report tracks vital metrics such as the number of encounters, procedures, total collections, total charges, outstanding A/R, and the total number of adjustments. By comparing these indicators across different months, our medical billers pinpoint positive and negative trends, enabling strategic decision-making for your practice.
Save both time and money with our Top Carrier/Insurance Analysis Report. This report meticulously tracks revenue cycle metrics, offering invaluable insights into your practice’s financial performance. Specifically, it focuses on the top ten carriers or insurance companies that form the backbone of your practice. By monitoring payments, charges, collections, units, and CPT codes, this report enables a deep dive into specific charge, collection, and payment details for each CPT code.
Partner with PBS to gain access to these comprehensive reports, empowering your practice with actionable insights. Understanding your practice’s financial landscape has never been this detailed or straightforward.