Every RCM vendor provides revenue cycle reports of some kind. Maybe a dashboard view, maybe a month-end report, maybe a custom report. The dashboard may include colorful charts or impressive graphs. The reports may be directly from the application or from a third-party data warehouse. Are you tracking the one key metric to know if you are leaving money on the table?

As the reimbursement landscape continues to change and more specific information is needed to effectively manage your revenue cycle, there are two questions to ask yourself. Am I getting the right information at the right time? Are my analytics helping me manage my business as effectively as it should?

Executives should not settle for subpar analytics or relying on “this is the way we’ve always done it” mentality. For the success of your laboratory, it is imperative to understand the key metrics every lab should be tracking. This includes knowing how your billing team is performing. Sometimes the effort isn’t worth the payout. Alternatively, you might be leaving money on the table, which could make a big difference. The question is, do you know?

During this presentation, laboratory executives will:

• Learn how payer requirements affect reimbursement and show ways to determine if your processes are effective or if they need to change.
• Have insight into appeals to determine which are worth pursuing by understanding the cost versus success.
• For new labs, know what to track to set yourself up for maximum reimbursement.
• For existing labs, how to identify opportunities for additional reimbursement dollars.
• Realize how productivity reports provide deeper insight into operational costs and how this information can impact your overall profitability.