Learn your Revenue Flow & Leakages just in 5 min. Know Your Practice (KYP)

Learn your Revenue Flow & Leakages just in 5 min. Know Your Practice (KYP)

Have you ever been in a situation, where you are looking to know how your practice is performing but you are overwhelmed by Data and can’t reach a conclusion? We have something for you that can help you not only understand your revenue flow but you can keep track of the complete billing process and you don’t need to spend much time on it. By just spending 5-10 min in a month you can identify all the red flags where you are losing money.

Too Much or Too Less Data:

As your practice grows so is the billing data and at one point it becomes difficult to keep track of your billing & revenue. Many of us then often look for one or two measures that summarize everything - Like How much we billed & How much did we get paid. But these measures do not guide you in your efforts to improve the functioning of your practice.

Let’s have a look at what could be the hidden problems that summary can’t help you identify.

• Total revenue often ignores how much your per patient collection needs to be. Total revenue might look big in number but what if that’s still low compared to the number of patients you see?

• You need to know your patient census of what portion of your patients belongs to what Line of Business(Medicaid, Medicare, Commercial etc.). & How much each of this Line of Business are paying you overall as well as per patient basis.

• Some payers keep you paying lower rates but you may never know this if you just look at the total collection because you need to compare it with your patient volume. This helps you identify the need for renegotiating the contract or even making a decision whether you should opt out of the network.

• And it’s always best to not just look at numbers exclusively but look at it in a pattern to your last 6 to 12 month numbers. You need to know if the increase or decrease in revenue correlates with #of patient visits for those months.

There are a lot of such problems which we never realized but could be causing revenue loss. And by the time we have identified them we have already lost huge revenue that can’t be recovered.

What if I tell you about something that can convert your billing data into storytelling and by just spending 5-10 minute a month you will be on top of your billing & revenue flow.

Know Your Practice (KYP):

KYP is a unique solution created to deal with the data problem. This application creates different measures from the data set and present in a visually simple to understand format.

There are 20 Measures in-built in this application that helps you track your billing & revenue from all angles. The methodology of this application is designed as such that it only needs Non-PHI details; you don’t need to provide any patient information, not even their name.

Every month it reloads with new data and shows you a dashboard & set of reports that are simple to understand and by just spending 5-10 minutes you will know how your practice performed in the last month.

CHERRY ON THE CAKE - It not only tells you about your past performance but also has a projection module that gives you a projection of how much revenue you should expect in current and next month on the basis of your billing. This can immensely help you in planning your expenses.

How does KYP work?

As discussed KYP uses non-PHI information. It only needs two sets of billing information: list of claims sent (Excluding Patient details), Payment posted list (Excluding Patient details).

When you upload this to the application and click generate it generates the Dashboard & other measures in the form of Dynamic charts & Tables.

So in a simple two step process it generates visually dynamic & simple to understand measures for you.

Pay only if you like

Contact us today, our representative would give you access to a demo account to see how your practice data would look like. If you feel interested our representatives can set up the same for you with zero setup cost.

You only pay a small amount of Monthly subscription that too only after you test the application with your practice data and you are interested in getting the same every month.

So sign up today for free and we guarantee you this would turn out to be the most useful thing for your practice.