{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"MGMA Podcasts","title":"Ask MGMA: Optimizing Accounts Receivable with an Effective Central Billing Office","html":"","width":"100%","height":180,"duration":910,"description":"Accounts receivable management is the backbone of a healthcare practice’s financial health, and a well-run central billing office (CBO) can make all the difference. In this episode of Ask MGMA, host Daniel Williams speaks with MGMA expert Cristy Good about best practices for structuring and optimizing a CBO, including staffing, technology, training, and audits to improve efficiency and reduce claim denials.\n\nKey Takeaways:\nAssessing Claim Volume and Staffing Needs – Analyze historical data to determine the appropriate size and structure for your CBO.\nLeveraging Technology – Integrated billing and coding software can streamline claims processing and reduce errors.\nTraining and Pre-Submission Scrubbing – Regular training and a strong pre-submission review process help prevent costly claim denials.\nConducting Regular Audits – Internal and external audits ensure coding accuracy and compliance with payer requirements.\nImproving Patient Communication – Clear financial policies and upfront conversations reduce misunderstandings and improve collections.\nFlexible Staffing and Outsourcing – Adjusting staffing during high-volume periods and outsourcing specialty coding can help maintain efficiency.\nKey Performance Indicators (KPIs) to Monitor:\nDays Sales Outstanding (DSO) – Measures the time it takes to collect payment.\nAverage Days Delinquent (ADD) – Tracks overdue payments and potential staffing gaps.\nAccounts Receivable Turnover Ratio (ART) – Evaluates efficiency in converting receivables into cash.\nCollection Effectiveness Index (CEI) – Assesses the overall success of the collections process.\nInitial Denial Rate – Helps identify inefficiencies in claim submission.\nStaff Productivity – Measures the number of claims processed per staff member.\nResources: \nFor more information and support on effective KPI tracking and optimization, visit MGMA.com and explore our wide range of resources, including these resources: \nMGMA DataDive: A comprehensive benchmarking tool that...","thumbnail_url":"https://img.transistorcdn.com/i3A0o5Le51A13NxZ99nog3kyezY-cAxUi98EFpfct5I/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZWEz/ZWU5NmM0NTlmNWVj/Mjk1YjBkYjhmZTk0/MTA2YS5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}