This page will explain the calculations behind the My Practice Report Card feature in TRAKnet 3.0.
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What is My Practice Report Card?
My Practice Report Card is a built in tracking tool that gathers data about the practice's overall statistics in key areas and compares this data to the industry average. The report is comprised of six individual reports:
- Aged Claims (% of Total AR)
- The practice's percentage of accounts receivable aged greater than 90 days compared to the industry benchmark
- Net Collection Ratio
- The current total monies collected on charges after contractual write-offs for the past six months.
- New to Total Patients Ratio
- New patients as a percentage of total patient visits for the past six months.
- Average Total Charges per Provider
- The average total dollar value of charges per provider made during the month.
- Total Collections per Provider
- The average total dollars collected per provider during the month.
- Total Claims per Provider
- The average number of total claims per provider filed during the month.
The My Practice Report Card will calculate data for various date ranges always ending at the previous month. During the last seven days of the month, the My Practice Report Card option in TRAKnet will be highlighted in red.
For a more in-depth dive into similar statistics for your practice, please reach out to Collaborative Practice Solutions for more information.
How are the reports calculated?
Each report is calculated differently and based on varying date ranges. Below you will find an explanation of how the numbers in each report are generated:
Aged Claims (% of Total AR)
The percentage is calculated using the following:
Numerator = Very similar to the 90 day balance found in the Accounts Receivable report, with some slight variation (which will be lower than the current number). This variation comes from items that have shifted to 90 day balances since the end of last month.
Denominator = The Balance as found on the Accounts Receivable report with the following filters:
- Days Past Due = the date of the month (e.g., if today is 1/29/2016 you will enter 29).
- Charge Status = Show All
- Show Patients in Collections = True
- Show Unapplied Payments = False
Percentage = (~90 Day Balance / Total Balance From End of Last Month) * 100
Net Collection Ratio
The Net Collection Ratio report can be cross-referenced with the Average Collections - Summary report with the following filters:
- Start Date = The same date as on the My Practice Report Card screen, aka 6 months prior to the previous month's end date (e.g. if last month was 12/31/2015, then the start date is 7/1/2015)
- End Date = The previous month's last day.
- Providers = Select All providers.
The Numerator in the ratio is equal to the Collected amount.
The Denominator is equal to the Amount to Collect amount.
Percentage = (Collected / Amount to Collect) * 100.
New to Total Patients Ratio
This report can be cross-reference to the Treatments by Provider - Summary report with the following filters:
- Start Date = The same date as on the My Practice Report Card screen, aka 6 months prior to the previous month's end date (e.g. if last month was 12/31/2015, then the start date is 7/1/2015)
- End Date = The previous month's last day.
- Providers = Select All providers.
- Treatments Codes = 99201,99202,99203,99204,99205,99221,99222,99223,99224,99305,99306,99324,99325,99326,99327,99238,99242,99243
To calculate the percentage:
Numerator = The quantity from the Treatments by Provider report, run as above, where patients are unique and has diagnoses.
Denominator = The total number of unique encounters from the date range. There is no report in TRAKnet that shows an equivalent. The Batch Print Encounters screen, copied to a spreadsheet with duplicate patients removed, will give the most accurate total.
Percentage = (# of Patients with New OV Codes / Total Number of Unique Encounters) * 100
Average Total Charges per Provider
This report can be cross-referenced to the Activity - Summary report with the following filters:
- State Date = previous month's start date
- End Date = previous month's end date
- Providers = Select All providers.
To calculate the ratio:
Numerator = The Charges total.
Denominator = The count of providers in TRAknet who had any charges that month (where charges does not equal 0).
Percentage = (Charges Total / Number of Providers who had Charges that Month) * 100
Total Collections per Provider
This report can be cross-referenced with the Activity - Summary report with the following filters:
- Start Date = previous month's start
- End Date = previous month's end
- Providers = Select All providers
To calculate the ratio:
Numerator = The Payments total.
Denominator = On the bottom of the Activity - Summary report, any provider who has an amount in the Payments column will count.
Percentage = (Payments Total / Number of Providers with Payments in the Date Range) * 100
Total Claims per Provider
This report can be cross-referenced to the Claims screen under the Billing Dashboard, in particular the Claims Sent view with the following date range:
- Start Date = previous month's start
- End Date = previous month's end
This particular item has no ratio or percentage calculation and is just a flat counter of all claims sent by all providers in that date range.
TriZetto Tab
The TriZetto tab at the top of the screen will show a glimpse of your TriZetto web portal, allowing you to see your rejection rate compared to the national average rejection rate.
Permissions
The My Practice Report Card screen is only available to those TRAKnet users who have the Reports permission checked off on their permissions list.
End of the Month
At the end of the month, the My Practice Report Card tab will be highlighted in red as a visual queue that the report should be checked before the month rolls over.
VPO Sample
At the bottom of the My Practice Report Card you can find a sample VPO report. VPO, or Virtual Practice Optimization, is an in-depth dive into your practice, analyzing a large variety of billing statistics and information to pinpoint where you stand. For more information please reach out to sales@collaborativepracticesolutions.com.