It is important to grow the top line of your business on an annual basis, but you also need to make sure the bottom line is healthy which can help fund that growth.
The two biggest expenses in your RCM operations is staffing and infrastructure. So how can we make sure the production line is running at peak performance?
One very effective way is to put the right balance of KPIs in place.
During the consulting period we will analyze the efficiency of your billing staff with the help of industry standard performance metrics. Provide plan of action to improve the efficiency and implement the same.
This measures how much of your available capacity you are actually using on your production line.
The higher the better.
You want to measure how employees are performing against the standards.
It is very common for companies to underestimate labor costs, and this KPI can help you identify this.
You are trying to maximize this percentage so that employees are adding value the majority of the time they are clocked in and present.
This metric measures the overall effectiveness of a process. This is a great KPI to maximize to ensure you are running your desk operations effectively.
There is nothing worse than filing a claim to insurance only to find the information is inaccurate. This both delays the claim filing and causes delays in the collections.