Report by Billing Date
We were told by our practice management vendor that we should always run our financial reports by the billing date instead of the date of service. Why would running a report on charges, for example, be better by billing date as compared to date of service?
Question: We were told by our practice management vendor that we should always run our financial reports by the billing date instead of the date of service. Why would running a report on charges, for example, be better by billing date as compared to date of service?
Answer: Well, the main reason is that industry benchmarks typically use date billed. For example, the Medical Group Management Association measures days in A/R from date billed. Of course, this leaves open the possibility that you are creating delays by not submitting claims promptly, but you should be doing so automatically.