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BLOG: Monthly department check-ups for a healthy practice, part 2 — more billing tips
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Read more from Corrine Z. Wohl, MHSA, COE.
In my last blog, I discussed the benefits of streamlining administrative tasks by monitoring key benchmarks on a regular basis. An internal comparison to your own practice, quarter to quarter, is the most important, as you track your own progress over longer time frames.
Before I move on to clinic and patient services benchmarks, here are a few additional ways to help you more deeply analyze the productivity and skill of your billing department:
1. Audit the time component it takes for each billing task to be accomplished. Time lags in any of the following areas will result in delayed and decreased revenues:
Between date of service and posting of associated charges. Recommended schedule is no longer than 48 hours, best being within 24 hours.
Posting of charges and electronic transmission to the insurance company. Electronic transmission should be done daily. This keeps cash flow consistent and assures timely filing. Get the whole story