What is a Monthly Billing Summary Report for a Healthcare Provider?

Billing summary reports are considered operational analysis reports and are used by accountants to analyze billing revenues from various perspectives. Some of the main functionality in this type of visual report is that it is parameter driven and contains four major sections: 1) Monthly billings by insurance company, 2) Monthly billings by biller, 3) Monthly billings by doctor and 4) Monthly billings by revenue group. Note: Only the first section is visible in the screenshot below. You find an example of this type of visual report below.

Purpose of Monthly Billing Summary Reports

Healthcare providers use Monthly Billing Summary Reports to give executives and financial managers an easy, self-service way to slice the organization’s billing revenues. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a healthcare institution can improve its billing revenues and related strategies and planning as well as reduce the chances that managers lack insight to important drivers of billing revenues.

Monthly Billing Summary Report Example

Here is an example of a Monthly Billing Summary report for a healthcare provider.

Monthly Billing Summary Report Example for a Healthcare Provider

Monthly Billing Summary Report Example for a Healthcare Provider

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Who Uses This Type of Visual report?

The typical users of this type of visual report are: CFOs and accountants.

Other Visual reports Often Used in Conjunction with Monthly Billing Summary Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Monthly Billing Summary Reports, along with billing and revenue dashboards, income statements, cash flow reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data for competitors typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

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