Do you worry about insurance claims payment delays? Lack of control over your chiropractic claims process causes inconsistent cash flow for your practice.
If you cannot track and predict your cash flow easily you will have a hard time making your business profitable. You might even drive away patients when you are stressed out, which further hinders the growth of your chiropractic clinic. Ultimately, you cannot achieve any long-term profitability without sufficient growth.
Since seeing patients is your priority, you can’t make time to micromanage each chiropractic billing aspect. Addressing the large amount of failing or rejected claims is virtually impossible with limited resources. Nevertheless, you need to follow up on your chiropractic claims to avoid reduced cash flow.
Inconsistent and ineffective chiropractic billing performance can have many culprits including incompetent or untrained staff. But no one can adequately keep track and follow up on all underpaid and denied claims without effective chiropractic software. Not correcting these claims causes payment delays and can increase the percentage of your AR past 120 days. That’s why you need to track your active claims backlog and evaluate your chiropractic billing performance.
Managing a chiropractic office is a balancing act of multiple Key Performance Indicators (KPIs), though. It can be challenging to prioritize tasks as many chiropractors tackle easy problems first before they focus on more complex matters. You need to keep your eyes on the big picture if you want to improve your claims workflow management and chiropractic billing performance. To accomplish this you need a centralized organization of tasks and performance. It is important to choose the right chiropractic software functionality.
You should be able to look at multiple aspects of your practice at once, just like the snapshot Genesis’ Practice Health Monitor (a.k.a Radar) provides. To improve teamwork every member of your staff can also see this Radar chart on Genesis’ Home page every time they log on. You don’t need to waste time on compiling your practice stats, including claims status since data collection is automated. Furthermore, you and your staff can monitor trends to detect any problem areas before they cripple your practice performance.
You can track your practice performance over time and measure any improvements with Genesis’ radar. But first you need to customize your workflow KPIs. Your Practice Success Coach then configures your radar to help you reach your goals.
Learn which 10 metrics you should track in your practice.
Read more about metrics and KPIs.