Podiatry Coding & Billing Alert
Establish a Metric to Measure A/R
Question: I hear some practice managers talk about “days in A/R.” What does this mean? How many “days in A/R” are normal for podiatry practices?
Kentucky Subscriber
Answer: When people talk about ‘days in accounts receivable (A/R),’ they’re referring to single number that tells you, on average, how long it takes you to get paid after you provide a service.
To quickly calculate days in A/R, you need to figure out your Average Daily Charge (ADC). You get this number by dividing your gross charges by 365. Then you divide your total accounts receivable by your ADC to get the number of days A/R you have outstanding.
If your “days in A/R number” is greater than 50, that’s a sign that something is not working correctly in your back office. You could be coding incorrectly, which is triggering denials from insurers. Your front desk collection processes could be sub-par, or your patient billing system may need improvement.
Podiatry Coding & Billing Alert
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