ASC revenue cycle key performance indicators to monitor (Part I)
How can you gain better control over your ASC's revenue cycle performance? By monitoring key performance indicators (KPIs).
This first in a two-part series identifies more than 15 ASC revenue cycle KPIs worth tracking. It explains the importance of monitoring each KPI, offers target benchmarks (where applicable), and identifies warning signs to watch for that may indicate a KPI is moving in the wrong direction. Part two will share common problems that can contribute to poor KPI performance, describe solutions to help address obstacles to success, and provide guidance for effectively analyzing trends.
Days to Bill/Charge Lag
Why monitor: Monitoring the average days to bill each month helps ensure cases are billed promptly and, in turn, payments are received in a timely manner. Higher or inconsistent lag days make it more difficult to ascertain revenue estimation. Lengthy delays could lead to denials, lost payments, and increased days sales outstanding (discussed below).
Benchmark: The standard benchmark is less than two days (48 hours).
Warning signs: A deviation from this benchmark signifies a delay in billing that must be addressed before other metrics are impacted.
