This page will explain how to use the Waterfall Report.
Report Breakdown
The Waterfall Report shows the charges for a given month, and a month-by-month breakdown of when those charges were paid or adjusted. Each section of the report is as follows:
- Charges — Lists the amount of charges billed for that month.
- Payments — Lists the amount of payments on those charges, broken down by which month they were paid.
- Adjustments — Lists the amount of adjustments on those charges, broken down by which month they were adjusted.
- Resolution — Lists the sum of all payments and adjustments on those charges, broken down by which month they were paid or adjusted.
- Resolution Percentage — Lists the percentage of those charges that have been resolved, broken down by which month they were paid or adjusted.
- Cumulative — Lists cumulative resolution percentage.
Filters
The Waterfall Report uses the following filters:
- Starting Period — Allows the user to select which month will be the last month displayed in the report.
- Months in Review — Allows the user to choose how many months back in time to show in the report, may range from 1 month to 36 months.
- By Treatment Date — Allows the user to designate either the Service Date or the Patient Responsibility Date to determine which charges are represented within a month.
- Locations — Allows the user to filter by locations.
- Providers — Allows the user to filter by providers.
Examples
Refer to Figure 1 below for an example of the Waterfall Report after it is executed. In this example, the practice billed $130,434.81 in charges for February 2017. That same month for those same charges, they received payments of $15,978.99, and made adjustments of $27,855.30, for a total resolution of $43,834.29. The resolution percentage would be 33.61%, as $43,834.29 is 33.61% of the total charges for February 2017. Then, in March 2017, the practice received payments of $26,252.89 and made adjustments of $41,688.41 on the $130,434.81 charged in February 2017. This adds to a total resolution of $67,941.30, or a 52.09% resolution percentage. The cumulative resolution percentage for March 2017 is 85.69%, which is the running total of the resolution percentage for both months.
