Who's watching your cash flow?

摘要

Radiologists practice in a challenging environment. We are reading more examinations, often for less payment. Our business is highly regulated; there is increasing government involvement and significant penalties for fraud and abuse. Billing for our services is becoming more complex, with greater pressure to maximize payments as efficiently as possible. Given this climate, radiologists should provide greater oversight of their groups' billing activities. In this article, I discuss the billing process, focusing on what I consider to be the 5 most important performance indicators: 1) adjusted collection percentage (ACP), 2) days charges in accounts receivable (A/R), 3) A/R aging percentage over 120 days, 4) billing/ collection expense percentage, and 5) billing/collection cost per procedure. I discuss the pitfalls to consider and the strategic applications of these indicators.