General Tracking Worksheet
You can create a general tracking worksheet, in an excel spreadsheet, with the following headings/columns:
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PAYMENT POSTINGS |
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Insurance |
Patient |
Total |
|
Date |
Collections |
Collections |
Collections |
Some practices even combine billing information along with this daily reporting of payments as follows:
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INSURANCE FILING |
PAYMENT POSTINGS |
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Electronic |
Paper |
Total |
Insurance |
Patient |
Total |
|
Date |
Billing |
Filing |
Charges |
Collections |
Collections |
Collections |
Tracking Payments Against Budgeted Payments
Some practices create daily and monthly collection targets or budgets. You can track this in an excel spreadsheet using the following headings/columns:
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Daily |
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Date |
Deposits |
Budget |
Variance |
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Week To Date |
Month To Date |
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Total |
Budget |
Variance |
Total |
Budget |
Variance |
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This is an excellent worksheet format you can use to monitor on a daily basis how well the practice is collecting money as well as comparing these payments to collection targets.
Tracking Payments with Clinical Visits
Some practices like to track not only how much money is coming in every day, but patient visits as well. These are practices that will set visit targets as well as collection targets. Targeting and tracking clinical production is one way practices monitor future cash flow. If production is not met, then a practice knows it will most likely have a dip in future cash flow, usually within the next two to three month period.
The following are sample headers/columns used by these practices:
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DATE |
DAY OF THE WEEK |
NUMBER OF PATIENT SEEN IN CLINIC |
TOTAL AMOUNT OF CLINIC CHARGES |
# PATIENTS IN HOSP (daily census) |
TOTAL AMOUNT OF HOSPITAL CHARGES |
TOTAL OF ALL CHARGES |
|
CLINIC DAILY PAYMENTS |
DEPOSIT TICKETS REF NO |
TOTAL AMOUNT OF PAYMENT RECEIVED |
