Practice Management

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  • 1.  Radiology Key Indicators for AR

    Posted 01-25-2022 19:16

    Hello,

     

    Can someone tell me what you consider an acceptable loss of revenue from your RCM company? I am looking for industry standards. Do you have timely filings and if so, what do you consider acceptable? I am specially looking for hospital based radiology. I know the RBMA used to have a survey for key indicators, but I cannot locate it.

     

    Christy Hembree, CPC
    Director of RCM: Coding & Compliance | Summit Radiology Services

     

    C |770-755-3092   F | 678-929-5507  

    PO Box 200096 Cartersville, Georgia 30120
    summitrad.net

     

    This e-mail and any attachments may contain confidential information subject to protection under the Federal Standards for Privacy of Individually Identifiable Health Information (45 C.F.R. Parts 160 and 164).  If you or your organization is a "Covered Entity" under the above-mentioned regulations, you are obligated to treat such information in a manner consistent with the regulations.  If it appears that this e-mail was sent to you in error, (1) you are prohibited from utilizing or disseminating this e-mail or any attachments; (2) please immediately delete it from your computer and any servers or other locations where it might be stored and e-mail the sender or call 770-607-7339 advising that you have done so.  We appreciate your cooperation.

     



  • 2.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 09:05
    Hi Christy,

    I am happy to connect one on one to understand more about your practice so that I can give you some input on what is acceptable, and what is not.  There are many factors that impact the bad debt and collection rates, but in a short call I can at least give you some insight on what I see in the market.  I am an independent business advisor for practices and business in the revenue cycle space and have experience with large, small, inhouse, outsource organizations and also am familiar with hospital pro fee and/ or imaging center results.    Happy to share my thoughts on a quick call with you.   Just email me directly if you would like to connect.

    ------------------------------
    Sharon Fremer
    CEO, Owner
    Fremer Group, LLC
    Alpharetta, GA
    678-938-7953
    ------------------------------



  • 3.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 09:12

    Christy

     

    RBMA just recently published our Accounts Receivable Benchmarking Survey which would be a great help as you look for industry standards in revenue cycle management.  This is a valuable tool!

     

    https://www.rbma.org/RBMAMembers/Resources/Data-and_Surveys.aspx?WebsiteKey=c0b5773b-35ad-46b6-a5d3-a2ab26b9f328&hkey=10b0ff37-ab47-4ed7-9f12-fa2b57f3f26d&Data_and_Survey_Tabs=2#Data_and_Survey_Tabs

     

    Sent from Mail for Windows

     






  • 4.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 09:15

    Thank you. I appreciate you posting the link.

     

    Sharon and Thomas – I will also reach out to each of you for feedback.

     

    Christy Hembree, CPC
    Director of RCM: Coding & Compliance | Summit Radiology Services

     

    C |770-755-3092   F | 678-929-5507  

    PO Box 200096 Cartersville, Georgia 30120
    summitrad.net

     

    This e-mail and any attachments may contain confidential information subject to protection under the Federal Standards for Privacy of Individually Identifiable Health Information (45 C.F.R. Parts 160 and 164).  If you or your organization is a "Covered Entity" under the above-mentioned regulations, you are obligated to treat such information in a manner consistent with the regulations.  If it appears that this e-mail was sent to you in error, (1) you are prohibited from utilizing or disseminating this e-mail or any attachments; (2) please immediately delete it from your computer and any servers or other locations where it might be stored and e-mail the sender or call 770-607-7339 advising that you have done so.  We appreciate your cooperation.

     






  • 5.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 09:54

    Can anyone provide some specifics on what type of data is in this survey?

     






  • 6.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 10:52
    Edited by Jessica Struve 01-26-2022 10:58
    Hi Kevin,
    The following ten measures have been identified by the RBMA Data Collection and Reporting Committee as key indicators of accounts receivable
    management performance and are reported in this survey:

    1. True cost of billing
    2. Net collection percentage
    3. Days in A/R
    4. Billing Service Costs
    5. Billing/collection cost per procedure
    6. Accounts receivable aging percentage over 120 days
    7. Total Credit Balance over 90 days
    8. Total Credit Balances
    9. Self-Billing Costs

    ------------------------------
    Jessica Struve, CAE
    Deputy Executive Director, RBMA
    Fairfax VA
    (703) 621-3359
    jessica.struve@rbma.org
    ------------------------------



  • 7.  RE: Radiology Key Indicators for AR

    Posted 03-02-2022 12:17
    Can anyone tell me how we would purchase these survey results?  We don't seem to be able to locate anything about this on the RBMA site.

    Thanks for your assistance!

    ------------------------------
    Trudie Galan CPC
    Manager
    Healthcare Information Services
    Willowbrook IL
    (630) 321-2762
    ------------------------------



  • 8.  RE: Radiology Key Indicators for AR

    Posted 03-02-2022 15:07
    Hi Trudie:

    To purchase the 2021 A/R Survey, please access the following link:

     RBMA 2021 A/R Survey

    Please contact me if you need further assistance.

    ------------------------------
    Jennifer Jones
    Membership & Members Services Manager
    Radiology Business Management Association (RBMA)
    Fairfax VA
    (888) 224-7262
    ------------------------------



  • 9.  RE: Radiology Key Indicators for AR

    Posted 01-26-2022 15:47
    Hello Christy,
    I agree with Sharon- there are many factors that influence this but timely filing specifically is often a function of credentialing issues. We have a consulting division and can share many statistics with you regarding what an appropriate expectation should be- based on your specific demographics.
    Please reach out if you are interested in some additional information
    Rebecca

    ------------------------------
    Rebecca Farrington
    Chief Revenue Officer
    Healthcare Administrative Partners
    (610) 892-8889
    rfarrington@hapusa.com
    www.hapusa.com
    ------------------------------



  • 10.  RE: Radiology Key Indicators for AR

    Posted 01-27-2022 09:02
    If you purchase the RBMA A/R survey and have any questions about how to use it or understand it, let me know. There are some new metrics and a new graphing tool, so it can be difficult to comprehend the first time you sign in. I would strongly recommend participating in the 2022 survey, this way you get the data for free and can see where you fit. Also, if you attend Paradigm at the Broadmoor, there will be a breakout session to review some of the 2021 data and help people to know how to use it effectively.

    ------------------------------
    Kyle Tucker
    President
    Dexios Radiology Billing
    (804) 378-3543
    ------------------------------