Monthly Billings by Insurance Company Dashboard for Healthcare Providers

    What is a Monthly Billings by Insurance Company Dashboard ? Billings by Insurance Company Dashboards are considered billing analysis tools and are used by CFOs and medical billing managers to analyze how much each insurance company is paying on billed amounts. Some of the main functionality in this type of dashboard is that it gives the user both a matrix report with detailed billing matrix and it provides a chart with rankings of the payors. The matrix shows insurance company name, billing amount, collection amount, % of total amount, and collection rate. The chart ranks the payors from low to high. You find an example of this type of dashboard below. Automate Your Healthcare Operations Purpose of Monthly billings by Insurance Company Dashboards Healthcare organizations use Monthly billings by Insurance Company Dashboards to give managers an easy way to monitor the payors involved in the payment process. When used as part of good business practices in Financial Planning & Analysis (FP&A) and Billing departments, an organization can improve its billing processes and improve revenues, and it can reduce the chances that there are issues with certain payors (insurance companies). Example of a Monthly billings by Insurance Company Dashboard Here is an example of a Monthly Billings by Insurance Company Dashboard with KPIs related to the payors as well as rankings. [caption id="" align="alignnone" width="2560"] Example of a Monthly Billings by Insurance Company Dashboard for Healthcare Providers Example of a Monthly Billings by Insurance Company Dashboard for Healthcare Providers[/caption] You can find hundreds of additional examples here Who Uses This Type of Dashboard ? The typical users of this type of dashboard are: CFOs, medical billing manager, collections manager, accountants, analysts. Other Reports Often Used in Conjunction with Monthly billings by Insurance Company Dashboards Progressive Financial Planning & Analysis (FP&A) and Billing departments sometimes use several different Monthly billings by Insurance Company Dashboards, along with profit & loss reports, cash flow statements, annual budgets and forecasts, revenue dashboards, billing reports, charges reports, collections reports, aged receivables (AR) reports, payor reports and other management and control tools. Solver for Healthcare Providers Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from 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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