Another Way to Test Revenue Cycle Data

Are you being paid consistently and correctly?

Are your charges billed consistently?

Today’s BIG Idea is a project I am working on for the healthcare consulting arm of a CPA firm.  The consultants are working with a large multi-specialty provider who does not have allowed amounts loaded into their practice management system.  To give the practice a sanity check on their charges and allowed amounts, I calculated the mode.  You will remember from statistics that mode is the most common number in a group of numbers.  In theory, the most common charge and the most common allowed amount should be what the practice is billing and collecting, but it is not always the case.  I ran an exception report to find charges and/or allowed amounts that were not equal to the mode.  Listen to the podcast to find out how to find revenue opportunities in your practice.

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