Total Collections Percentage

The total amount of all payments marked as having a payment date within the selected time period, divided by the total net production in the selected time period.

Collections Percentage

• Total Collections Percentage can change over time if: 
  • Net production changes 
  • Collections changes 
• To avoid changes to the collection percentage:
  • Make sure employees do not edit the negotiated fee schedules. 
  • Make sure employees do not edit the negotiated fee on procedures that are scheduled or completed.
  • Don’t edit, add, or remove appointments in the past. 
  • Make sure employees are not backdating payments.
  • Make sure employees are not editing payment dates or deleting payments.
  • Edit permission for the employees to restrict their ability to make payment edits or delete payments.
  • Ensure your fee schedules are updated to reduce the chances of claims being underpaid or overpaid.
• Examples of total collections percentage and how it changes: 
  • Example 1: 
    • You view the collections board on August 1st for July 1-31 and see a Total Collections Percentage of 95%
    • Then, on August 2nd, an employee adds procedures to an appointment from July 15, causing the net production of that appointment to increase. 
    • You view the collections board on August 3rd for July 1-31 and see that your Total Collections Percentage has gone DOWN, due to the increase in Net Production for that time period.
  • Example 2: 
    • You view the collections board on August 1st for July 1-31 and see a Total Collections Percentage of 95%
    • Then, on August 2nd, a claim for an appointment on July 15 is processed – it includes a write-off, so the patient's responsibility plus the insurance payment is less than the original negotiated rate, causing the negotiated rate to be lowered. 
    • You view the collections board on August 3rd for July 1-31 and see that your Total Collections Percentage has gone UP, due to the decrease in Net Production for that time period.
  • Example 3: 
    • You view the collections board on August 1st for July 1-31 and see a Total Collections Percentage of 95%
    • Then, on August 2nd, an employee edits a payment date on a patient’s ledger to change from August 1st to July 30th, causing Collections for the month of July to increase. 
    • You view the collections board on August 3rd for July 1-31 and see that your Total Collections Percentage has gone UP, due to the increase in Total Collections for that time period.