OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE YOU THESE FIVE REPORTS
                     OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE YOU 
THESE FIVE REPORTS
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537
OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE 
YOU THESE FIVE REPORTS
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537
OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE 
YOU THESE FIVE REPORTS
On initial basis there is a wide range of reports and among them there are five most 
important medical billing reports that a practice should check on a frequent basis:
 Patient payments
 It can be a tricky scenario when you have to make sure that your patients pay the bill on time 
especially when the bill is high. You should be tracking your patient’s payment history for the 
profit you seek. 
The US often faces bankruptcy due to medical billing which leads many people to fall into debt, 
so the chance of skipping a payment for someone is high.
 The Insurance Analysis Report
This report shares the information about the insurers. The report shows the top 10 payers and 
insurance companies which contributes to the important portion of the business of a practice.
Besides showing the top 10 carriers, the report also keeps tracks of collections, CPT codes, units 
and payments. 
Using this report, a practice can highlight the carrier which is paying less than other commercial 
carriers saving up to $50,000 a year by allowing it to drop that carrier, but instead of dropping 
the practice can renegotiate a better deal
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537
OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE YOU THESE FIVE 
REPORTS
The Accounts Receivable Aging Report
With the help of this report an experienced biller can figure out the efficiency of the Practice’s 
billing department. The A/R aging report could also be generated by hand, but it would be 
impractical to invest so much time. One of the significant aspect of A/R reports are that, it not 
just shows which claims have yet to be paid but also which have been unpaid for long.
On an average basis it mostly takes one month for a claim to be paid and further the practice 
can track the claims which have been open for more than a month with the help of A/R aging 
report. If an unpaid claim has been there for more than 45 days, it should be noted and that is 
why A/R reports are to be frequently checked.
Payment Trend and Collection Report
Any Medical Practice needs to look at these collection reports to track the billing and collection 
data also; to compare what the insurance allows. By scrutinizing the report one can figure out 
that how much is to be extracted from the patients to pay their claims. Claims that have been 
over a specified span of time and have not been paid can be seen in the Insurance Collection 
Report. One can use these reports further to analyze the problem and fix the issue.
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537
OUTSOURCED MEDICAL BILLING PARTNER MUST GIVE 
YOU THESE FIVE REPORTS
The Key Performance Indicators Report
With the help of reports they are able to point out the number of times they have performed 
each procedure, the sum of their charges, the sum of their collections, outstanding A/R and total 
adjustments.
 These Key Performance Indicator Reports provides indicators which the billers use to analyze 
about the trends which are negative and positive, so that the practices can differentiate between 
what cannot be continued and what can be continued.
Any practice should run this report every week while comparing the results from the previous 
week so one can get an exact idea about the problem as soon as it appears. Now, if the practice 
sees a sudden change in the collections, it is considered to be a problem and it’s advisable to 
look deeper into the specific issue to know what is wrong and how to fix it. Also, analyzing other 
reports can be an effective way to identify the problem.
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537
About 24/7 Medical Billing Services:
24/7 Medical Billing Services is the nation’s leading medical billing service 
provider catering services to more than 43 specialties across the entire 50 states. You 
can rely on us for end-to-end revenue cycle management. We guarantee up to 10-
20% increase in the revenue with cost reduction of your practice for up to 50%. Call 
us today at 888-502-0537 to know more on how we can help boost profitability for 
your practice.
 
Contact us -
24/7 Medical Billing Services,
16192 Coastal Hwy, 
Lewes, DE – 19958
Tel: + 1 -888-502-0537
Email - [email protected]
http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537