Monthly Insights Report

This article describes the Monthly Insights report, which is a monthly summary of key metrics for a healthy practice.

What is the Monthly Insight report?

The Monthly Insights report provides a monthly summary of key metrics for a healthy practice and includes recommended benchmarks, based on Clinicient's top-performing customers and best practices.

What are the benefits of the Monthly Insights report?

  • Provides a quick monthly snapshot into the financial and operational health of a practice
  • Gives members visibility into how they are performing against Clinicient's data-driven benchmarks
  • Helps members spot potential areas where they can improve performance

What are the nine key metrics covered in the Monthly Insight Summary?

The first page of the Monthly Insights report shows nine key metrics for the overall health of your practice. Three are related to keeping your therapist's schedule full; three to billing the maximum amount allowed; and three to collecting every dollar possible.

Key Metric Definition Value
Conversion Rate Percentage of referrals received that are converted into patients by having a first visit within seven days. Shows how good you are at getting patients to show up for their first visit.
Weekly Frequency Average number of visits per week your patients come to therapy. Shows the capacity of your caseload and evaluates whether you are getting the most out of each case on a weekly basis.
Cancel/No Show Rate Percentage of unexcused cancellations. Highlights how good you are at getting our patients to show up for their visits.
Copay Collection Rate Percentage of copays collected on or before time of service. Shows how good you are at getting patients to pay you what they owe when they come in.
Units per Hour Number of units documented per hour available for scheduling. Shows how productive therapists are and can help make sure you are not under-coding, under- scheduling, or giving time away.
First Pass Payment Percentage of claims paid on first attempt within 60 days of submission. Shows how good you are at getting claims paid on the first attempt and how clean your claims are.
Net Collections Rate For each month of service, the percentage of total dollars collected to date, compared with benchmark. Gives you visibility into if you are collecting all that is possible to collect and alerts you of potential collections issues.
Days AR Number of days it takes on average to receive payment on a day's billed charges. Shows how many days on average you take to collect on billed charges and provides an indicator of your cash flow.
Average Visits per Discharge Average number of visits a patient is seen by a therapist from case creation to discharge. Helps you see the outcome and value of a referral.

What additional information does the Monthly Insights report provide?

The subsequent pages of the Monthly Insights report dive deeper into each of the specific areas listed below.

Page Description
Administration Analyzes visit rates and frequencies, copay collections, and held visits.
Case Analysis Analyzes referral sources, conversion rates, and patient retention, and provides a list of your top referrers.
Claims Analysis Shows your rate of first pass payments, denial trends, and claims activity by payer category.
Therapist Review: Treating Therapist Shows visit and billing metrics for the therapist assigned to the visit.
Therapist Review: Supervising Therapist Shows visit and billing metrics for the supervising therapist assigned to the case.
Revenue Analyzes posted charges vs. posted payments, number of visits seen vs. payment per visit, and monthly activity by payer category.
Collections Analyzes your collection rates over the last 12 months and your overall AR balance.
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