is your practice

New Stock Market Terms

CEO

Chief Embezzlement Officer

CFO

Chief Fraud Official

Bull Market

Period of time when an investor believes that he or she is a genius

Bear Market

Period of time when my kids get no allowance, my wife gets no jewelry, and I get no sex!

Financial Planner

The guy whose phone has been disconnected

Broker

What my broker has made me!

Profit

An archaic term that does not exists anymore on Wall Street

Value Investing

The art of buying low…and selling even lower!

Standard and Poor

My life in a nut shell!

The Survey Says….

Aging Report Monthly?

P/L Statement Quarterly?

Balance Sheet Bi-annually?

CPT Report Quarterly?

ICD-9 Report Quarterly?

Each Visit’s Value?

Data BenchmarkingData Benchmarking

HOW ARE YOU DOING?...

CASH FLOW RELATED CASH FLOW RELATED BENCHMARKSBENCHMARKS

TOTAL A/R SHOULD BE LESS TOTAL A/R SHOULD BE LESS THAN 2 MONTHS GROSS THAN 2 MONTHS GROSS CHARGESCHARGES

A/R AGINGA/R AGING

ACCOUNTS OVER 90 DAYS SHOULD BE LESS THAN

15% OF TOTAL A/R

DAYS IN RECEIVABLESDAYS IN RECEIVABLES

LESS THAN 45 DAYS

Accounts receivable/ gross charges x 360

A/R AGING TOO HIGHA/R AGING TOO HIGH

POOR COLLECTION POLICIESFAILURE TO WRITE OFF CLEAN CLAIM RATE TOO LOWFACTORS OUTSIDE OF YOUR

CONTROL

““NET” COLLECTION RATIO NET” COLLECTION RATIO VERSUS“GROSS” COLLECTION RATIOVERSUS“GROSS” COLLECTION RATIO

““NET” COLLECTION RATIO NET” COLLECTION RATIO SHOULD BE GREATER THAN 95%SHOULD BE GREATER THAN 95%

STRONG BILLING STRONG BILLING ANDAND

COLLECTION POLICIES COLLECTION POLICIES

PAYROLL RATIOPAYROLL RATIO

AROUND 22-25%

PER VISIT VALUEPER VISIT VALUE(P.V.V.)(P.V.V.)

ABOVE $85.00

ABOVE $50.00

LOW PER VISIT VALUE (P.V.V.)LOW PER VISIT VALUE (P.V.V.)

LOSS OF PRODUCTIVITYLACK OF INTEGRATED SERVICESCODINGBILLING/COLLECTION

SOME INTEGRATED SERVICESSOME INTEGRATED SERVICES

DIABETIC SHOE PROGRAMPADnet VASCULAR TESTINGWOUND CAREPHYSICAL THERAPYIN OFFICE DISPENSING

CREAMS

PALLIATIVE SUPPLIES

POST-OP SUPPLIES

P.V.V. ENHANCEMENTP.V.V. ENHANCEMENT

INCREASING THE PER VISIT VALUE OF A PRACTICE ENCOUNTERING 10,000

PATIENT VISITS PER YEAR BY JUST $5.00 LEADS TO AN ADDITONAL NET OF

APPROXIMATELY $35-$40k!

QUALITY IMPROVEMENT

INVENTORY CONTROLINVENTORY CONTROL

INVENTORY COORDINATOR

DAYS IN INVENTORY

INVENTORY CONTROLINVENTORY CONTROL

DAYS IN INVENTORY

average inventory on hand/annual costs of

goods x 360

Jguiliana@aappm.org