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BC Advantage - 2020 Issue 11

Monitor Collections to Improve Practice Bottom Line

As the healthcare industry continues to change, one area that demands constant attention is practice collections. One way to monitor practice collections on an ongoing basis is to calculate and analyze two important statistics: the gross collection percentage and the net collection percentage.You calculate the gross collection percentage by dividing the practice's collections by its gross production. The gross collection percentage is an important statistic because it indicates how much of the office's production is actually going into its bank account. Keep in mind that if the practice can increase its gross collection percentage at any time, its...

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