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Member You - Outsourced Chiropractic Billing Service Performance Index - July 2006
The world rotates around money, we all know that. We all want to find affordable ways of starting or improving our businesses, but money always seem to be an issue. So then, why don’t we direct our attention towards business grants? Think about it: we are talking about advantageous financial offers coming from the government – tempting, right? But before you make any decision, you might want to ask yourself: “How do I find the right business grants?” Should I Opt for a Small Business Grant? Few of you k
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
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BPI = 15 means that the average of ten top performing payers working with BillingPrecision.com clients have 15% of Accounts Receivable beyond 120 days. BPI is a key billing performance characteristic, as it is a proxy of the claims that are never paid. Obviously, the lower is the index the better is billing performance. The table below also lists the top ten performing payers and their relative index as recorded in Billing Precision's system.
- Billing Precision Index 15
- Medicare West Virginia 1.1
- United Heath Care 5 (up from 8 in June)
- Oxford 5.7 (up from 11 in June)
- Medicare Virginia 10.5
- Medicare New Jersey 11.7 (up from 17 in June)
- Medicare Alabama 11.9
- Cigna 12.4 (up from 13 in June)
- Aetna 13 (up from 21 in June)
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
Dropped participants from June BPI:
- Benesight 5
- Blue Cross Blue Shield Florida 5
- Medicare Florida 7
- Horizon 18
- Blue Cross Blue Shield Texas 33
Improved participants with respect to June BPI:
- United Health Care 8
- Oxford 11
- Cigna 13
- Medicare New Jersey 17
- Aetna 21
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
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- Billing Precision Index 15
- Medicare West Virginia 1.1
- United Heath Care 5 (up from 8 in June)
- Oxford 5.7 (up from 11 in June)
- Medicare Virginia 10.5
- Medicare New Jersey 11.7 (up from 17 in June)
- Medicare Alabama 11.9
- Cigna 12.4 (up from 13 in June)
- Aetna 13 (up from 21 in June)
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
Dropped participants from June BPI:
- Benesight 5
- Blue Cross Blue Shield Florida 5
- Medicare Florida 7
- Horizon 18
- Blue Cross Blue Shield Texas 33
Improved participants with respect to June BPI:
- United Health Care 8
- Oxford 11
- Cigna 13
- Medicare New Jersey 17
- Aetna 21
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
With entrepreneurship holding out the promise of a lucrative future, together with the freedom to be your own boss, many women are choosing to walk the road to free enterprise rather than stay in dead end jobs. Research has shown that twice as many women as men opt out of corporate jobs to start their own business.Advantages of Starting Your Own Business:1) Earlier, women were expected to work towards the goals of their organization without considering their own professional satisfacti 5 (up from 8 in June)
Dropped participants from June BPI:
- Benesight 5
- Blue Cross Blue Shield Florida 5
- Medicare Florida 7
- Horizon 18
- Blue Cross Blue Shield Texas 33
Improved participants with respect to June BPI:
- United Health Care 8
- Oxford 11
- Cigna 13
- Medicare New Jersey 17
- Aetna 21
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
As the postcard marketing industry continues to evolve, more marketers turn to the medium as a way to drive business and increase revenues. But postcard marketing can be tough. It's a numbers game, and at every point in the process you stand to lose a percentage of your audience.To get the most from your postcard marketing, you need to minimize this "attrition" by optimizing your technique. Ever aspect of your postcard campaign -- the planning, the copywriting, the design and the offer -- should
Dropped participants from June BPI:
- Benesight 5
- Blue Cross Blue Shield Florida 5
- Medicare Florida 7
- Horizon 18
- Blue Cross Blue Shield Texas 33
Improved participants with respect to June BPI:
- United Health Care 8
- Oxford 11
- Cigna 13
- Medicare New Jersey 17
- Aetna 21
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
Direct Mail CampaignsDespite the proliferation of communication facilitators--mobile phones, faxes, emails, PDAs--the mail still plays a vital role in successful marketing. Direct mail marketing continues to be one of the leading methods for effectively reaching prospective customers because it can be focused, predictable and economical.Direct mail is effective and efficient because it is a pinpointed approach. Basically, the campaign is an arrow shot at one individual at >
New participants with respect to June BPI:
- Medicare West Virginia 1.1
- Medicare Virginia 10.5
- Medicare Alabama 11.9
- Blue Cross Blue Shield New Jersey 15.7
- Blue Cross Blue Shield Alabama 23.9
Coverage
BPI is rule-based, i.e., payer participation in the index is defined by dynamically rules at the time of computation and not by a static listing of specific payers. Therefore, any specific payer may start or discontinue participation in the index, dependent on satisfaction of rule's conditions.
Current selection of payers for participation in the BPI is based on fifty top-volume providers across all United States that have received Billing Precision services for more than six months and have more than two hundred claims in their current Accounts Receivable.
Update Cycle
BillingPrecision.com updates BPI on a monthly basis.
Volume Weighting
BPI is volume weighted, which is important to accomodate future growth of provided information, index combinations, and sensitivity across multiple indices.
Information Provided
BPI computes the percent of Accounts Receivable beyond 120 days. Note that national average across all medical specialties of percent of accounts receivable beyond 120 days is 17.7%.
Summary
Medical Billing Performance Index helps the development of billing industry standards. Medical service providers can use the index to benchmark their billing performance and to guide its improvement over time. Rule-based index definition allows for automated inclusion and exclusion of payers in the index based on payer attributes, such as numbers of processed claims, accounts receivable distribution, certain mix of CPT codes, or patient demographics. Relative payer index provides billing process improvement direction.
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