Revenue Cycle Management Metrics
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It should be no more than 35 days of average daily charges in the accounts receivable balance.
Revenue cycle management metrics. First pass resolution rate. This is an average of how long it takes to collect. This metric indicates the efficiency of your revenue cycle management. Independent medical practice owners have a large number of responsibilities.
Key metrics to master. First pass resolution rate fprr first pass resolution rate fprr is the percentage of claims that are paid in a single submission. Focusing on insurance verification billing and coding would be a good start if your practice struggles with a low fprr. Sikina has four best practice revenue cycle metrics.
Therefore it is important to focus on a few quantifiable metrics within your revenue cycle that you can objectively measure and improve. A lot of organizations make that sikina said but it s a tough goal.
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