BI Tool - Average Payment Analysis

Using the Average Payment Analysis Tool

This tool will help you to understand how your practice is progressing in term of revenue and what percentage of revenue is increased / decreased from month to month for the 12 months.

You can also see the analysis for a specific providers, offices, Procedures, Insurances and Insurance types using the filter option. 

Average Payment Analysis Explanation and Calculation

Explanation of Filters:

  • Provider: Filter total payments by a specific provider, a group of providers, or all providers. 
  • Office: Filter total payments by any or all offices
  • Payment Profile: Filter total payments by payment profile (cash, insurance, insurance out of network, auto accident, and workers' comp).
  • Insurance Type: This feature is still in beta and should not be used.
  • Code Category: This feature is still in beta and should not be used.
  • Procedure Codes: Allows you to search for total payments of specific CPT codes. If a list of codes is entered, the results displayed will include any payment that includes at least one of the listed codes.
  • Payer IDs: Allows you to search for average payments of specific payer ID codes. If a list of codes is entered, the results displayed will include any payment that was paid by any of the payer ID codes in the list.
  • Display Payments:
    • Posted Date: The bar graph time axis will reflect the dates that payments are posted.
    • Check Date: The bar graph time axis will reflect the dates the check was received.

Calculation of the Bar Chart:

  • The bar chart is a breakdown of your total payments. This matches the patient payment and insurance payment information in your day sheet. This is calculated by the summation payment line items for each claim within your search parameter. 
  • The average line is a monthly average calculated by the total summation of all your line items for a given calendar year, divided by 12.

Monthly Detail Display:

  • Explains the breakdown of each month by payment.

 

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