 Accounts Receivable Management:
Standard Operating Parameters:
As an information driven organization, Practicare is continually monitoring and evaluating the performance of our clients’ accounts. To that end, our staff, from the CEO to the Account Representative is kept abreast of critical operating measures. As a part of our routine account maintenance, our staff reviews:
Days Sales Outstanding
Accounts Receivable Analyses
Charge and Payment Analyses
Collection Rate Analysis
Denial Tracking Program:
In keeping with our proactive management philosophy, Practicare reports regularly on the number and value of denied procedures. Given that these denials represent a significant impediment to optimal cash flow and Accounts Receivable management, we feel this innovation is central to bringing our clients value. Based on the denial tracking statistics, we are able to identify systemic problem areas in the operation of the clients practice, and move quickly to address the solutions to these problems. Our denial reporting indicates:
The number of procedures denied
The dollar value of those denied procedures
The percentage of overall denials on a per payer basis
The reason why the claim was denied
Denials by Physician
Denials by Payer
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