BC Advantage - 2022 Issue 7

Gross Collection Ratio vs Net Collection Ratio: Understanding These Financial KPIs

Your holistic practice's success and longevity within your community are predicated upon a streamlined healthcare revenue cycle-part of that comes from understanding a couple of key financial metrics that you can use to evaluate your practice's current performance! Being able to calculate and track the financial key performance indicators, known as KPIs, of your holistic practice means that you'll be able to make changes where needed and be better informed of your business's status.Two key metrics to track are the gross collection ratio (GCR) and the net collection ratio (NCR); these might sound the same, but they track...

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