Financial Reporting with Practice Management

See how to track practice-wide productivity, claim status, financial trends over time and more in our Practice Management system and drill down in real time. To learn more, visit modmed.com/pm/.

Here is a full transcription of the video:

Hi I’m Stephanie Krull, Senior Practice Management Educator at Modernizing Medicine. Today we’re going to take a look at some of our reporting options. We’re going to start by taking a look at the production summary. Here you’re able to track financial trends, financial dimensions, patient encounter count trending, and patient encounter count by dimension. We’re going to start off by taking a look at the financials by dimension. And here you’ll see that we can track our charges, payments, and adjustments by different options. We have CPT. We could track by payer. We can also track by provider. And also location. We can track our financial trends over time. This will tell you each month where you are with charges, payments, and adjustments. We can also view our patient and encounter count. And this will tell us our patient count distinct and our distinct encounter count by each month as well. Another option we have is our collections. This will allow you to track your progress against the MGMA and see if you’re meeting those standards. We can also look at the claim status sorter. Here we can check in a graphical view our claim status. What we have as denied, on hold, ready for posting, what is queued up, and what is payment pending. We can also track by payer just to see where our balances lie in a percentage and we can also see where those balances are. Is it primary insurance. Is it workers comp. Is it vision. Is it secondary. To see these powerful reporting tools for yourself get a demo at modmed.com/pm.