| Benchmark-driven performance management helps | | | | discontinue participation in the index, dependent on |
| establish objective industry standards. Medical service | | | | satisfaction of rule's conditions.Current selection of |
| providers can use benchmarking to evaluate | | | | payers for participation in the BPI is based on fifty |
| performance of their billing service and measure their | | | | top-volume providers across all United States that |
| improvement over time. This article presents a | | | | have received Billing Precision services for more than |
| prototype for a rule-based chiropractic index, including | | | | six months and have more than two hundred claims |
| its coverage definition, update cycle, volume | | | | in their current Accounts Receivable. Update Cycle |
| weighting, and provided information.Current (June | | | | Billing Precision updates its index on a monthly basis. |
| 2006) Billing Precision Index (BPI) stands at 18, which | | | | Volume Weighting BPI is volume weighted, which is |
| means that the average of ten top performing | | | | important to accomodate future growth of provided |
| payers working with BPI clients have 18% of | | | | information, index combinations, and sensitivity across |
| Accounts Receivable beyond 120 days. This is a key | | | | multiple indices. Information Provided BPI computes |
| billing performance characteristic, as it is a proxy of | | | | the percent of Accounts Receivable beyond 120 |
| the claims that are never paid. Obviously, the lower is | | | | days. Note that national average across all medical |
| the index the better is billing performance. The table | | | | specialties of percent of accounts receivable beyond |
| below also lists the top ten performing payers and | | | | 120 days is 17.7%. Summary Medical Billing |
| their relative index as recorded in Billing Precision's | | | | Performance Index helps the development of billing |
| system ( ). | | | | industry standards. Medical service providers can use |
| | | | the index to benchmark their billing performance and |
| Billing Precision Index 18 | | | | to guide its improvement over time. Rule-based index |
| Benesight 5 | | | | definition allows for automated inclusion and exclusion |
| Blue Cross Blue Shield Florida 5 | | | | of payers in the index based on payer attributes, |
| Medicare Florida 7 | | | | such as numbers of processed claims, accounts |
| United Health Care 8 | | | | receivable distribution, certain mix of CPT codes, or |
| Oxford 11 | | | | patient demographics. Relative payer index provides |
| Cigna 13 | | | | billing process improvement direction.Yuval Lirov, PhD, |
| Medicare New Jersey 17 | | | | author of "Mission Critical Systems Management" |
| Horizon 18 | | | | (Prentice Hall, 1997), inventor of multiple patents in |
| Aetna 21 | | | | artificial intelligence and computer security, and CEO |
| Blue Cross Blue Shield Texas 33 | | | | of Billing Technologies. Vericle delivers comprehensive |
| Coverage BPI is rule-based, i.e., payer participation in | | | | practice workflow engine that integrates patient |
| the index is defined by dynamically rules at the time | | | | scheduling, electronic medical records (EMR), billing, |
| of computation and not by a static listing of specific | | | | transcription, and compliance management. It |
| payers. Therefore, any specific payer may start or | | | | improves billing performance and reduces audit risk. |