This white paper provides a comprehensive overview of the importance of measuring provider billing and collection performance through Key Performance Indicators (KPIs). It outlines crucial KPIs such as Days in Accounts Receivable, Collection Rate, Denial Percentage Rate, Net Collection Percentage, Bill Lag, and Credit Balance, providing benchmarks for each.
Additionally, it highlights the challenges providers and patients face in in-house Revenue Cycle Management (RCM).
It reviews the benefits of outsourcing RCM for providers and patients, emphasizing cost reduction, specialized expertise, compliance, and improved patient care. A compelling case study showcases the significant financial recovery achieved by outsourcing to CPa Medical Billing, resulting in a substantial boost in revenue.