iPatientCare VUCON April 2017 Session
Topic – Assess Your Practice Financial Health
Schedule: April 13, 2017, 3:00 PM to 4:00 PM EST
Agenda of iPatientCare Virtual User Conference (VUCON) April 2017
3:00 PM EST - 4:00 PM EST
“Keeping your practice operationally and financially healthy by focusing on key financial indicators” – by Vaibhav Goel, iPatientCare, Inc.
Even good practices can run into traumatic or catastrophic situation if key metrics are not vouched upon. In last one or two years many practices expanded their use of the expensive vaccines like Zostavax, Gardasil, Varicella, etc., which turned out to be reimbursed at less than cost – or unreimbursed – by a number of insurance companies. Practices that weren't monitoring their finances lost significant money on supplies. Those that were paying attention caught the problem in the first one to three months and addressed it before incurring sizable costs. Timely, accurate financial reports can be invaluable tools for assessing your practice’s financial health. Different reports used on a daily, weekly and monthly basis provide vital information for day-to-day management of your practice.
Some of the key areas Session will explore:
- Charges by Financial Class
- Payments by Financial Class
- Contractual Adjustments vs. Other Adjustment/Write Off
- Accounts receivable aging report
- Untracked and Unbilled encounters
- Procedure Code analysis
- Managed care plan profitability (capitation analysis)