Reporting and Analytics

The Accounts Receivable Aging Report is a key indicator of your practice’s financial health and the efficiency of your billing operations. Without an automated system, tracking outstanding claims manually is time-consuming and impractical—leading to delayed reimbursements and lost revenue.

For a practice seeing 15 to 20 patients per day, relying on software-generated A/R reports is essential. Without it, revenue leakage is inevitable.

Deep Insights Through A/R Reporting

To gain a comprehensive understanding of outstanding claims, Incorpify Solutions provides A/R Aging Reports segmented by:

• Insurance Providers: Identify delays and trends by payer.
• CPT Codes: Track which procedures face frequent denials or delays.

Optimizing Revenue Cycle with Technology

• Track unpaid claims in real-time
• Ensure timely reimbursements
• Reduce claim denials
• Verify CPT codes annually to prevent rejections

A Billed Charges Report is a crucial document in medical billing that provides a detailed summary of all the charges billed to patients and insurance companies for services rendered. This report helps healthcare providers track their revenue and ensure that all services provided are accurately billed.

Key Components Typically Included:

• Patient Information: Details about the patient, including name, date of birth, and contact information.
• Service Date: The date on which the medical service was provided.
• Procedure Codes: CPT (Current Procedural Terminology) codes used to describe medical procedures performed.
• Charge Amount: The total amount billed for each procedure or service.
• Insurance Information: Details about coverage, including the name of the insurance company and policy number.
• Payment Status: Live status indicating if charges are paid, pending, or have been denied.

By regularly reviewing Billed Charges Reports, healthcare providers can ensure they are capturing all revenue opportunities and addressing any billing issues promptly.

Understanding your practice’s billing, collection trends, and insurance reimbursements is essential for maintaining financial stability. At Incorpify Solutions, we provide detailed reports to help you analyze revenue patterns and optimize collections.

Insurance Payment Trend Report

• Compare billed charges vs. insurance reimbursements
• Determine how much is owed by patients after insurance payments
• Identify underpayments or discrepancies in contracted insurance rates

Insurance Collection Report

Claims that remain unpaid beyond a specific timeframe can be tracked using our Insurance Collection Report. This report helps pinpoint problem areas within your accounts receivable and provides insights into delays or denials.

Claims & Payment Trend Analysis

• Track how much was billed vs. how much was paid based on Date of Service (DOS)
• Identify payment patterns across different insurance carriers
• Improve cash flow by proactively managing unpaid claims

The Key Performance Indicators (KPI) Report is one of the most powerful tools for evaluating a practice’s financial health and operational efficiency. In the past, compiling a KPI report manually took weeks—but with Incorpify Solutions, practices can now access real-time insights in seconds.

What Does the KPI Report Track?

• Total Encounters: Track patient visits and service volume.
• Total Procedures: Identify high-revenue CPT codes.
• Total Charges & Collections: Monitor billed amounts and growth.
• Outstanding A/R: Keep track of pending claims and payments.
• Total Adjustments: Identify write-offs and contractual adjustments.

Understanding which insurance carriers contribute the most to your revenue is key to optimizing financial performance. This report helps practices save both time and money by highlighting top-paying insurers.

What This Report Tracks:

• Top 10 Insurance Carriers: Identify payers generating the most revenue.
• Payments & Collections: Monitor revenue from each specific carrier.
• CPT Code & Unit Analysis: Assess how procedures are reimbursed.
• Collection per RVU: Evaluate reimbursement efficiency.

Collecting patient payments is a major challenge. Due to the rise in out-of-pocket expenses under the ACA and employer-sponsored plans, tracking patient payments has become more critical than ever.

How Incorpify Solutions Helps:

• Real-Time Tracking: See payment trends instantly.
• BI Tools: Automate collection reports with EMR-integrated tools.
• Mobile Access: Access payment data straight to your phone.
• Proactive Strategy: Identify payment gaps and improve front-office efficiency.

Denial management is critical for ensuring consistent cash flow. According to a recent Advisory Board survey, denial rates are rising, making a strong analytics-driven strategy essential.

Key Trends in Denials:

• Commercial Payers: 26% of all denied claims now come from commercial payers.
• Technical Errors: 100% increase in demographic denials leading to write-offs.
• Appeal Success: Practices see a 50-56% appeal success rate for denied claims.
• Payer Variance: Denial rates vary significantly between payers like Aetna and Anthem.

Insurance companies have a financial incentive to deny claims, so getting the denial rate to zero is nearly impossible. However, with Incorpify Solutions’s data-driven analytics, practices can minimize denials and recover more revenue.