Staffing level—the number of employees needed to see patients successfully and efficiently
Fee Schedule—a list of the services provided by the practice and the amount at which they are valued (The fees are primarily reflected as CPT codes, but other types of services such as supplies can also be included.)
Charges, Payments, and Adjustments—a look at how the fee schedule and the billing and collections processes work together
Collection Rate—a comparative value of how effectively revenue is collected
Relative Value Units—Medicare’s process for valuing each CPT code that is reimbursable (RVUs can be used analytically in several ways.)
Encounter—a unique patient visit during which many services can be provided
Procedure—each individual CPT-level service provided to a patient
Patient Volume—the total number of patients seen by a practice or clinic in a given time period
Accounts Receivable (A/R) Aging—a report showing how much money has been collected from whom, and how much has been left on the table and for how long
Bell Curve—a graph which depicts evaluation and management coding patterns compared to others in a peer group
Denials—reasons why insurers may not pay claims
Payor Mix—information on how each class of patient or insurer impacts revenue and income
Financial Statements—a document showing revenue and expenses, as well as the practice’s general financial health
Conversion Factor—a dollar amount set by Medicare that works in conjunction with RVUs to calculate Medicare reimbursement
Quality Metrics—the measurement of quality of care and outcomes (These are increasingly being tied to productivity measures.)