The Practice Advisor Reports contains a section about Collections Practice Totals.. What important information does this portion of the report provide?
Collections The Collections statistics are calculated using the Active Patient Base by Last Visit. The Active Patient Base by Last Visit is the total number of patients who have a Last Visit Date in the Family File that is within the previous number of months (from the Practice Advisor Setup dialog box) and who have a billing type that has been selected for the report (from the Practice Advisor Report dialog box).
Note: Collections is not filtered by dentists and hygienists selections - it is always calculated using all providers.
Practice Totals The report shows the practice’s collections totals.
A/R to Production The A/R is the combined total of each family’s account balance. The report displays the following Accounts Receivable statistics: • Previous Month – The A/R for the previous month. The number in this box is the A/R for the previous month divided by the Production for the previous month (rounded to the nearest one-hundredth). • MTD – The A/R for the current month. The number in this box is the A/R for the current month divided by the Production since the beginning of the month (rounded to the nearest one-hundredth). • MTD Benchmark – The collections benchmark range from the Other Benchmarks tab of the KPI Benchmarks Setup dialog box. • MTD Variance – The average of the MTD Benchmark minus the MTD (see “Variance Calculations”). • YTD – The A/R for the current year (fiscal or calendar) is the same as the A/R for the current month. The number in this box is the A/R for the current year divided by the Production since the beginning of the year (rounded to the nearest one-hundredth). If a Recommendation icon appears next to a Variance, refer to the Recommendation Footnotes page(s) to read the recommendations on what can be improved or changed
Note: It is preferred that the A/R be below the benchmark.
A/R over 90 days (% A/R) The A/R over 90 days is the combined total of each family’s account balance that is over 90 days.
The report displays the following A/R over 90 days statistics: • Previous Month – The A/R over 90 days for the previous month. The percentage (%) in this box is the A/R over 90 days for the previous month divided by the A/R Balance for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The A/R over 90 days for the current month. The percentage (%) in this box is the A/R over 90 days for the current month divided by the Production since the beginning of the month (multiplied by 100 and then rounded to the nearest whole number). • MTD Benchmark – The collections benchmark range from the Other Benchmarks tab of the KPI Benchmarks Setup dialog box. • MTD Variance – The average of the MTD Benchmark minus the MTD (see “Variance Calculations”). • YTD – The A/R over 90 days for the current year (fiscal or calendar) is the same as the A/R over 90 days for the current month. The percentage (%) in this box is the A/R over 90 days for the current year divided by the Production since the beginning of the year. If a Recommendation icon appears next to a Variance, refer to the Recommendation Footnotes page(s) to read the recommendations on what can be improved or changed Note: It is preferred that the A/R be below the benchmark.
Collections (% Production) Collections is the dollar amount of all Collections Transactions within a given date range. A Collections Transactions is a payment (from a patient or insurance).
The report displays the following Collections statistics: • Previous Month – The Collections for the previous month. The percentage (%) in this box is the Collections for the previous month divided by the Production for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The Collections for the current month. The percentage (%) in this box is the Collections for the current month divided by the Production since the beginning of the month (multiplied by 100 and rounded to the nearest whole number). • YTD – The Collections for the current year (fiscal or calendar) is the same as the Collections for the current month. The percentage (%) in this box is the Collections for the current year divided by the Production since the beginning of the year (multiplied by 100 and then rounded to the nearest whole number).
Over-the-Counter Collections (% Production) Over-the-Counter Collections is the dollar amount of all Over-the-Counter Collections Transactions within a given date range. An Over-the-Counter Collections Transactions is a payment (from a patient or insurance).
The report displays the following Over-the-Counter Collections statistics: • Previous Month – The Over-the-Counter Collections for the previous month. The percentage (%) in this box is the Over-the-Counter Collections for the previous month divided by the Production for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The Over-the-Counter Collections for the current month. The percentage (%) in this box is the Over-the-Counter Collections for the current month divided by the Production since the beginning of the month (multiplied by 100 and then rounded to the nearest whole number). • MTD Benchmark – The collections benchmark range from the Other Benchmarks tab of the KPI Benchmarks Setup dialog box. • MTD Variance – The MTD minus the average of the MTD Benchmark (see “Variance Calculations”). • YTD – The Over-the-Counter Collections for the current year (fiscal or calendar) is the same as the Over-the-Counter Collections for the current month. The percentage (%) in this box is the Over-the-Counter Collections for the current year divided by the Production since the beginning of the year (multiplied by 100 and then rounded to the nearest whole number). • YTD Benchmark – The collections benchmark range that is derived from the MTD Benchmark. • YTD Variance – The YTD minus the average of the YTD Benchmark (see “Variance Calculations”). If a Recommendation icon appears next to a Variance, refer to the Recommendation Footnotes page(s) to read the recommendations on what can be improved or changed
Adjustments to Collections Adjustments to Collections are adjustments that hav0e been assigned as collection adjustments from the KPI Benchmarks Setup dialog box.
The report displays the following Adjustments to Collections statistics: • Previous Month – The dollar amount of Adjustments to Collections for the previous month. • MTD – The dollar amount of Adjustments to Collections for the current month. • YTD – The dollar amount of Adjustments to Collections for the current year (fiscal or calendar) is the same as the dollar amount of Adjustments to Collections for the current month.
Adjusted Collections (% Adj Production) Adjusted Collections is the Collections minus the Adjustments to Collections.
The report displays the following Adjusted Collections statistics: • Previous Month – The Adjusted Collections for the previous month. The percentage (%) in this box is the Adjusted Collections for the previous month divided by the Adjusted Production for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The Adjusted Collections for the current month. The percentage (%) in this box is the Adjusted Collections for the current month divided by the Adjusted Production for the current month (multiplied by 100 and then rounded to the nearest whole number). • MTD Benchmark – The collections benchmark range from the Other Benchmarks tab of the KPI Benchmarks Setup dialog box. • MTD Variance – The MTD minus the average of the MTD Benchmark (see “Variance Calculations”). • YTD – The Adjusted Collections for the current year (fiscal or calendar). The percentage (%) in this box is the Adjusted Collections for the current year divided by the Adjusted Production for the current year (multiplied by 100 and then rounded to the nearest whole number). • YTD Benchmark – The collections benchmark range that is derived from the MTD Benchmark. • YTD Variance – The YTD minus the average of the YTD Benchmark (see “Variance Calculations”). If a Recommendation icon appears next to a Variance, refer to the Recommendation Footnotes page(s) to read the recommendations on what can be improved or changed
Collections from Insurance Collections from Insurance is the dollar amount of all payments from insurance.
The report displays the following Collections from Insurance statistics: • Previous Month – The Collections from Insurance for the previous month. The percentage (%) in this box is the Collections from Insurance for the previous month divided by the Production for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The Collections from Insurance for the current month. The percentage (%) in this box is the Collections from Insurance for the current month divided by the Production for the current month (multiplied by 100 and rounded to the nearest whole number). • YTD – The Collections from Insurance for the current year (fiscal or calendar) is the same as the Collections from Insurance for the current month. The percentage (%) in this box is the Collections from Insurance for the current year divided by the Production for the current year (multiplied by 100 and then rounded to the nearest whole number).
Collections from Patients Collections from Patients is the dollar amount of all payments from patients and/or guarantors.
The report displays the following Collections from Patients statistics: • Previous Month – The Collections from Patients for the previous month. The percentage (%) in this box is the Collections from Patients for the previous month divided by the Production for the previous month (multiplied by 100 and then rounded to the nearest whole number). • MTD – The Collections from Patients for the current month. The percentage (%) in this box is the Collections from Patients for the current month divided by the Production for the current month (multiplied by 100 and rounded to the nearest whole number). • YTD – The Collections from Patients for the current year (fiscal or calendar) is the same as the Collections from Patients for the current month. The percentage (%) in this box is the Collections from Patients for the current year divided by the Production for the current year (multiplied by 100 and then rounded to the nearest whole number).
The following sections explain more about the Practice Advisor:
