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5 métricas clave para obtener rentabilidad en la gestión clínica

In the world of health, it is often overlooked that measuring is management. Taking this fact into consideration is essential for proper clinical management . The rapid evolution that the world of health has undergone and is undergoing in all its areas is truly astonishing and relevant, especially in terms of measurement.

Unfortunately, it is more common than desired to lose a large amount of significant metric data, which is mixed with countless irrelevant statistics. The clinical management of all those activities that take place before, during and after a patient’s medical visit, directly affects medical professionals when it comes to receiving payment.

In this article we show you the main indicators for obtaining good profitability in medical practice, which will allow you to achieve financial success.

It is important to remember that to properly manage a clinic , it is essential to optimize income and expenses to obtain good profitability.

Good  clinical software  is the necessary complement to success. You can find more information about the features of the best medical software in 2015  here .

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These are the 5 golden indicators to achieve maximum profitability

INDICATOR 1: The collection rate on the first attempt

This first indicator is a clear reflection of the effectiveness of debt collection management. This rate must be equal to or greater than 90%. In order to collect payment from the patient or the insurer, it is very important to do things right from the start.

The collection rate is calculated as follows:

Total charges collected / Total number of charges claimed

INDICATOR 2: Days needed to collect

This second indicator focuses on the average number of days required to collect payment, so that the lower the number, the faster payment will be made. The way to calculate this indicator is as follows:

(Money collected – money owed) / Daily average of money collected

It is important that the figure obtained through this equation is less than 50 days, although it is advisable that the figure is between 30 and 40 days. This measure provides an idea of ​​correct clinical management , as well as those factors that may be detrimental at an economic level. If this measure increases above 50 days, you should look for the cause. Normally it may be a single payer who is late with payments and measures can be taken to solve this.

INDICATOR 3. The percentage of charges to be collected

The percentage of charges to be collected is an indicator that aims to show in figures the efficiency in the receipt of payments. If the number of days exceeds 120 days, the probability of collection is reduced.

In other words, if the result obtained is a high figure or is increasing, it should be noted that it is a warning sign indicating the incorrect management of the clinic’s income, and it is possible that the clinic staff is not carrying out the required actions as quickly as necessary. The way to calculate this indicator is as follows:

Total amount outstanding > 120 days / Total amount outstanding

INDICATOR 4: The net collection rate

This indicator is the percentage of total potential reimbursement, a figure that must be above 95%. This metric or measure is used to evaluate effectiveness when all the necessary actions have already been carried out.

Based on the results obtained in this indicator, it may be necessary to increase profitability, for which actions such as investing in new tools, replacing staff or outsourcing clinical management are carried out . The way to calculate this indicator is as follows:

(Payments – Credits) / (Expenses – Contractual adjustments)

INDICATOR 5: Average reimbursement per medical act

This is an average amount of reimbursements made on the total number of operations. It is not possible to specify an appropriate figure as a reference for this indicator as it is the case with the previous ones, due to the great diversity of medical specialties. The way to calculate this indicator is as follows:

Total income/Number of medical acts in a given time

How are you managing your clinic?

These 5 metrics are especially indicated to achieve greater control over operations and greater profitability. If you have not been able to define these indicators, it will be very difficult to carry out an evaluation of the results obtained and thus be able to increase profitability.

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