5 Key Takeaways
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1
Retina practices should review key performance indicators (KPIs) early in the year to assess operational and financial performance.
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2
Days in accounts receivable (AR) is a critical KPI that reflects revenue cycle performance and should be monitored separately for service and drug fees.
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3
Analyzing net collection rates helps identify revenue losses and underpayments that may not be captured by gross collection rates.
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4
Denial rates should be categorized to identify distinct root causes, allowing for tailored solutions rather than a one-size-fits-all approach.
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5
KPIs serve as early warning signals, helping practices identify operational issues and make timely adjustments to improve performance.
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