In July, the Chiropractic Care Workplace Billing Accuracy Index (BPI) shed 5.5 factors below its June mark – getting to the most awful performance mark in 2008 Overall, July BPI reached 23.1 under-performing the nationwide standard of 17.7 by 5.4, and 7.6 points far from its ideal record of 15.5 in March of 2008.
In a precise opposite of its June pattern, the July index returned both GEICO and Blue Cross Blue Guard South Carolina, as opposed to Blue Cross Blue Guard Michigan as well as States Ranch it replaced in June. This time, GEICO took the last place as well as Blue Cross Blue Guard South Carolina – 8th. Note that both BCBS and also Medicare Illinois preserved their top placement, while CIGNA pushed Aetna and United Healthcare to the 4th as well as to the fifth places, specifically.
Payment Precision Index 23.1 – July 2008.
Blue Cross Blue Shield Illinois 4
Medicare Illinois 8.5
United Healthcare 15.9
Blue Cross Blue Shield New Jersey 24.9
Medicare New Jersey 30.7
Blue Cross Blue Guard South Carolina 46.1
Medicare South Carolina 46.1
Since it estimates the proportion of claims that are never paid, bpi is an important billing performance particular. BPI = 23.1 indicates that the standard of 10 top doing payers, used by the clients of Payment Precision companies, reached 23.1% of Accounts Receivable beyond 120 days.
BPI is just one of the key invoicing transparency tools, which allows the practice owner to see both the huge image of office payment and also its position within the nationwide average. A parallel movement of both the national index as well as the technique billing performance index show adequate performance of the billing office, while a different movement requires special attention, depending on the direction.
Chiropractic her explanation office supervisors utilize the rule-based index to benchmark their invoicing performance as well as guide its improvement in time. Rule-based benchmarking also allows for the identification of elite payers, those that perform ideal in comparison to every payer in the country, as shown by the index-driven ranking.