Third Party e-MDs Billing Tip: Profit Center Report
When we start with practices, one of the reports we like to run is the Profit Center Report. This report allows you to see what CPT codes were billed for during a particular date range. We use this report to give the management team an idea about over and under coding trends that might be taking place. Additionally, it’s great to for looking at procedure data to see if a new machine that you purchased is worth the expense or if some billable procedures that you want your clinical team to perform are being performed on a regular basis. Let’s take a look at how to run it.
You go to Bill>Reports>Profit Center: (see screenshot below)
Once the new window pops open, select your options/filters (see screenshot below). You can choose a number of different options. Choose your date range, providers, specific CPTs, etc. The first time you run the report, we recommend running the report type as: “By Provider & CPT”.
Once you have selected your filters, click on “Preview” at the top of the screen to see if the data is what you are looking for. It will list the Provider and then all of the different CPTs that have billed out for that provider during the time period you chose. It also shows how much you have been paid for those procedures and the average amount paid per procedure. Very helpful indeed!
In summary, this is a great e-MDs billing report to look at a number of different billing trends:
- Are your providers using a bell curve when it comes to evaluation and management codes
- “Are we getting reimbursed what the medical supply rep told us we would when he sold us this machine?”
- “How many EKGs have we done in the last 6 months?”
- “How many admissions has one provider done versus another?”
- What procedures are getting reimbursed the most for? The least for?”
If you have questions about this e-MDs Billing report or have other questions about billing workflow, let us know if we can be of assistance to your practice by filling out the form below.
Solor is a specialized third party medical billing company for e-MDs® Practices. e-MDs® is a registered trademark of e-MDs Inc. e-MDs Inc. is not affiliated with Solor, Inc., our products, services, or website. Additional legal disclaimer here: http://wp.me/P7cvJE-kI