Are you wondering if your billing process can be more profitable, or if certain slowdowns are unique to your facility rather than a system-wide issue? Thankfully, a benchmark report offers the inside scoop on what’s working and what’s broken so you can take steps to transform your workflow into a powerful claims processing machine.
Benchmark Reporting gives you insights on your performance compared to similar providers, which helps you determine areas in need of improvement and identify other areas you can't control. This will save time and the stress of trying to fix something that’s not necessarily broken. Benchmark reports should be fully customizable so it's simple to view the key indicators relevant to your facility, such as RTP percentage, claims paid after 60 days, or denials.
We recommend checking your key indicators about once a month to get an accurate read on your billing process' performance. Also, instead of pulling all of that data manually, consider trying out an automated data analytics service. This type of services gives you a real-time snapshot of your business processes, allowing you to replace detrimental practices with efficient ones right away.