What Reports Do You Pull & How Do You Apply the Data?

07/30/2019 | Reporting

meet Ruth Whitehurst

By Ruth Whitehurst

You’ll probably agree that in the OMS practice, net cash receipts is the most crucial piece of the financial equation, but how can you measure it while managing all of the accompanying variables?

Unfortunately, I’ve never found a system generated report that facilitates tracking overtime and reporting in a way that “tells the story.”  So I did something that most of us can relate to: I created something for myself in the form of Excel files designed to capture the raw data and report it in easy-to-understand tables and graphs.  

For me in WinOMS, I start with the Service Office Detail by location or provider, entering the month total of charges, payments, and adjustments.  Because WinOMS lumps refunds into adjustments, rather than netting from cash receipts, I report and adjust for that.  

The report format compares the following – by a provider and by location:

  • Gross charges and net cash receipts
  • Current month vs. same month in prior year
  • Current YTD vs. previous YTD
  • Show dollar and percentage increase or decrease for each item
  • Collection percentages
  • Number of days worked and charges or NCR per day

The bar graph provides  a clear picture view of:

  1. Total charges and net cash receipts for each month, for multiple years.
  2. Charges and net cash receipts by a provider over time.  (I generally use a 6-month moving average to eliminate the volatility.)

The end goal of my efforts is to identify the reasons for production increases and “do more of that” and reasons for production reductions so you can ultimately “do less of that.” 

Questions about how you can set up your reporting system for results that are useful and insightful? Ask us! You can email us or even post your problem or question in our online forum to help find a solution that you can make work for you, not against you!