Jho Outlaw, Vice President, SourceMedical Revenue Cycle Solutions: The new revenue cycle requires we start with the end result in mind and work our way backwards to accomplish success. The use of comparative metrics is key to documenting best practice. A few important key performance indicators to use as metrics are net days in accounts receivable, which trends overall A/R performance; aged AR as a percentage of billed A/R, which trends the receivable’s collectability and cost to collect, which trends operational performance. Focusing on these metrics, along with others, provides direction and leads to a well-run and accomplished revenue cycle.
If you would like to share your RCM best practices, please email Carrie Pallardy at cpallardy@beckershealthcare.com to be featured in the “RCM tip of the day” series.
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