New Features and Updates
- New Dashboard Gadget: Net Collection Rate: A new dashboard gadget is now available in the Dashboard section, Net Collection Rate.
Your net collection rate indicates what percentage of your net charges (your charges less contractual adjustments) your practice is collecting. This is a powerful indicator of your practice's revenue cycle efficiency. The typical average net collection rate is 95% or more. The top practices aim for 99% net collections!
A new report, Daily/Monthly Net Charges, has also been added. You can also use the Net Amount report field in the Charges Data section in your own custom reports!
Please Note: To ensure that all users have access to this valuable information, and to allow all users to view data for all time, the data for the Net Collection Rate gadget is updated once per day. Changes made during the day will not reflect on this gadget until the next day. Please run Reports if you need up-to-the-minute data.
- ERA Credit Card Payments: Some payers are starting to send their payments by Credit Card (for example, using VPay), and as of this release, you can now process those credit card payments at the same time that you apply the ERA -- just click the Edit button and change the Source to Credit Card while you're reviewing the ERA. When you apply the payment, you'll be asked to enter the credit card details.
This feature is available for users of our In-App Payment Processing feature. If you want to take advantage of this time-saving integration, have your authorized representative start the process in the Services section today.