Revenue Analysis & Reporting

Overview

Get your hospital/practice's revenue health evaluated with our Revenue Analysis and Audit. Analyze one-year financial data and let 3AG's team of experts provide you detailed insights on where your practice stands in terms of collections, unwanted write-offs, bad debts, and bottom-line loopholes where revenue leaks happen.

At 3AG, we help you track Key Performance Indicators through the RCM Spectrum allowing you to actively monitor areas needing improvements & assist you in fixing them accordingly

Below mentioned are a few of our mandatory KPIs’ that we regularly track

Days in Account Receivable

(Total accounts receivable / Average daily revenue)

Aged Accounts Receivable Rate

(Outstanding claims in a timeframe / Total outstanding claims) * 100%

Clean Claim Rate

(Number of clean claims / Total number of claims) * 100%

Claim Denial Rate

(Number of denied claims / Total number of claims) * 100%

Claim Appeal Rate

(Number of claims appealed / Total number of denied claims) * 100%

Bad Debt Rate

(Total write-offs / Total accounts receivable) * 100%

Gross Collection Rate

(Total payments received / Total charges) * 100%

Net Collection Rate

(Total payments received / Total allowed amount) * 100%

POS Collection Rate

(Total POS payments / Total self-pay cash collected)

Charge Lag

(Date of charges billed - Date of service)

Cost to Collect

(Total costs / Total payment collected)

Revenue per Patient Visit

(Total revenue generated per patient visit / Total number of patients)

In a data-centric industry, the opportunity to leverage data for value creation has increased exponentially. Clinicians and healthcare payers are relying on data analytics to gain insights into patient behaviors and meet organizational objectives.

Some of the best features that 3AG equips you with are

Detailed and Real Time Dashboard (AR Analytics)

At 3AG, we provide detailed and real-time AR analytics through our advanced dashboard capabilities. Our advanced Power BI algorithms allow providers to monitor KPI dashboards and performance metrics with precision.

By leveraging our dashboard, clients gain valuable insights that enable informed decision-making and proactive management of accounts receivable processes.

EDI Rejections & Denial Analytics

3AG specializes in EDI rejections and denial analytics, offering healthcare providers robust solutions to mitigate rejections and enhance revenue cycle efficiency. We identify patterns in EDI rejections, enabling proactive measures to reduce denial rates and improve claim acceptance.

Also, with years of denial management & insurance follow up expertise - 3AG's expert team ensures denial reduction by 35%.

Payer behavior and analytics report

3AG utilizes sophisticated denial tracking parameters to analyze payer behavior and generate insightful analytics reports. With years of experience in the healthcare industry, our team identifies trends and patterns in insurance denials, allowing us to implement targeted strategies that mitigate denials effectively.

By leveraging this data-driven approach, we help healthcare providers optimize their revenue cycle management, minimize claim rejections, and achieve smoother reimbursement processes.

Underpayment and payment variance analytics

At 3AG, we specialize in underpayment and payment variance analytics by analyzing provider contracts with insurance companies, we provide valuable insights into how claims should be paid based on contract terms, identifying discrepancies and variances that may lead to underpayments. Our in-depth analysis enables healthcare providers to optimize reimbursement rates, negotiate better terms with payers, and ensure accurate and fair payment for services rendered.

Automated RCM performance metrics

We leverage advanced tools like Power BI to automate revenue cycle management (RCM) performance metrics, providing healthcare providers with real-time reports on their accounts receivable (AR) metrics. Through advanced data visualization and analytics, we enable providers to monitor key performance indicators (KPIs) such as claim acceptance rates, denial rates, and days in accounts receivable.

Write-off and appeals review reports

3AG provides comprehensive write-off and appeals review reports, offering detailed insights into the financial aspects thorough assessments of write-offs and appeals processes, highlighting trends, discrepancies, and opportunities for improvement. By leveraging these reports, providers can streamline their revenue cycle management, optimize reimbursement strategies, and enhance overall financial performance.

We will help you determine collectible and non-collectible amounts and recover lost revenue from your legacy AR. And ensure we don't make the same mistakes on your new AR placements.

3AG streamlines your revenue cycle with a user-friendly platform for automation, communication, and reporting. With detailed revenue cycle reports, project management, and account receivable tracking, you'll have all the key metrics in one place. monitor individual productivity, set goals, and track progress with KPI metrics and production tracking.

The platform also provides a range of reports, from charge and insurance payments to denials and appeals. Boost your revenue cycle and eliminate errors with 3AG's comprehensive solution.

Don't make the same mistakes repeatedly! Let 3AG Business & Tech Solutions streamline your billing process and provide you with the analyzed data in 24-48 hours backed with our expertise.