1. Claims are not being paid within 45 days. To improve claims payment, file claims electronically, investigate unpaid claims and verify CPT codes.
2. Variation in total collections. Create a key performance indicators report and seek the reason for the variation.
3. Collections per RVU rates are less than $35.80. Top commercial payers should have a collection per RVU rate higher than the Medicare conversion factor, $35.80 for 2015, according to the report. Consider dropping a payer that is paying less than others for the same procedure.
More articles on coding and billing:
30 statistics on average commercial reimbursement by specialty in 2014
ICD-10 change: It’s real this time…again
Opinion: ICD-10 vital for 21st-Century cures
