MGMA Podcasts

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.

Key Takeaways:
  • Assessing Claim Volume and Staffing Needs – Analyze historical data to determine the appropriate size and structure for your CBO.
  • Leveraging Technology – Integrated billing and coding software can streamline claims processing and reduce errors.
  • Training and Pre-Submission Scrubbing – Regular training and a strong pre-submission review process help prevent costly claim denials.
  • Conducting Regular Audits – Internal and external audits ensure coding accuracy and compliance with payer requirements.
  • Improving Patient Communication – Clear financial policies and upfront conversations reduce misunderstandings and improve collections.
  • Flexible Staffing and Outsourcing – Adjusting staffing during high-volume periods and outsourcing specialty coding can help maintain efficiency.
Key Performance Indicators (KPIs) to Monitor:
  • Days Sales Outstanding (DSO) – Measures the time it takes to collect payment.
  • Average Days Delinquent (ADD) – Tracks overdue payments and potential staffing gaps.
  • Accounts Receivable Turnover Ratio (ART) – Evaluates efficiency in converting receivables into cash.
  • Collection Effectiveness Index (CEI) – Assesses the overall success of the collections process.
  • Initial Denial Rate – Helps identify inefficiencies in claim submission.
  • Staff Productivity – Measures the number of claims processed per staff member.
Resources: 
  • For more information and support on effective KPI tracking and optimization, visit MGMA.com and explore our wide range of resources, including these resources: 

  • MGMA DataDive: A comprehensive benchmarking tool that provides detailed metrics on network utilization, enabling practices to compare their performance against industry standards.  

  • Even Better Data, Better Decisions: Advanced Business Intelligence for Medical Practices: This book offers techniques to integrate data for actionable insights, enhancing efficiency, profitability, and adaptability in medical practices while improving patient care. 

  • Ask an Advisor: For personalized guidance, practices can reach out via email at advisor@mgma.com to connect with MGMA experts. 

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What is MGMA Podcasts?

Welcome to the MGMA Podcast Network, your gateway to insightful discussions and expert analysis on key topics in healthcare management. Dive into a diverse array of shows tailored to meet the interests and needs of healthcare professionals like you.

Explore the experiences and perspectives of trailblazing women in healthcare on "Women in Healthcare," or discover innovative strategies and solutions for your practice on "Business Solutions." Stay updated on the latest industry trends and news with "Week in Review," and gain valuable insights from industry leaders and MGMA members on "Member Spotlight." Don't miss our flagship show, "MGMA Insights," where we delve deep into the most pressing issues facing healthcare organizations today.

Whether you're seeking inspiration, practical advice, or in-depth analysis, the MGMA Podcast Network is your trusted companion on your journey towards excellence in healthcare management. Tune in and join the conversation today!