What is a Monthly Billings, Charges and Collections Summary Report?

Billings, charges and collections summary reports are considered healthcare group summary analysis tools and are used by CFOs, accountants and revenue officers to analyze all monthly revenues. Some of the main functionality in this type of analytical summary report is that it can be filtered by charge master, biller, insurance provider and physician. Across the columns you find three sections, each one can be expanded to see individual months for: 1) Billings, 2) charges and 3) Collections. Downwards in the report there are four sections: 1) Metrics by insurance company, 2) Metrics by biller, 3) Metrics by physician, 4) Metrics by revenue group. You find an example of this type of analytical summary report below.

Purpose of Monthly Group Summary Reports

Healthcare providers use Monthly Group Summary Reports to get a clear understanding of monthly revenues and trends from all possible angles. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a healthcare provider can improve its revenue strategies and related outcomes as well as reduce the chances that low performance areas or issues go undetected.

Monthly Group Summary Report Example

Here is an example of a Group Summary Report that helps healthcare providers analyze monthly billings, charges and collections.

Monthly Billings, Charges and Collections Summary Report for a Healthcare Provider

Monthly Billings, Charges and Collections Summary Report for a Healthcare Provider

You can find hundreds of additional examples here

Who Uses This Type of Analytical summary report?

The typical users of this type of analytical summary report are: CFOs, revenue officers, collections managers, analysts, accountants, budget managers.

Other Reports Often Used in Conjunction with Monthly Group Summary Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Monthly Group Summary Reports, along with revenue dashboards, detailed billings/charges/collections reports, budget 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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