Financial reporting and analysis
How does financial reporting and analysis maximize RCM? It generates improved cash flow management. With detailed financial reports, your dental practice can track incoming revenue and outstanding accounts. It also enables you to identify trends in patient payments, service demand, and payer reimbursements. Analyzing billing data optimizes billing processes by identifying where the billing process may be slowing down or encountering problems. Financial reporting creates benchmarks so you can evaluate your practice’s performance. You can monitor and improve key performance indicators (KPIs) related to RCM, such days in accounts receivable, clean claim rates, and claim denial rates, Tracking and analyzing these KPIs can help you identify bottlenecks in revenue collection.
