The Insurance Payment Summary Report displays statistics related to the amount and timeliness of the insurance payments your practice has received.
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Why: |
To compare the timeliness and amount of payments received from insurance companies. |
When: |
Yearly and quarterly. |
In the Office Manager from the Analysis menu, click Dentrix Reports. Under Reports in the Dentrix Reports window, double-click Insurance Payment Summary. For step-by-step instructions on how to run this report, see the Dentrix Help (in the Office Manager from the Help menu, click Contents).
The Insurance Payment Report displays insurance carrier payments only. If a carrier has not issued a payment for a claim, that claim is not included in this report. See the Insurance Aging Report to review insurance carriers with outstanding claims.
A. Payment Details – The following two report items help can you rate an insurance carrier:
· % Rec’d – The percentage of the amount received vs. billed. The higher the percentage, the better your return from the insurance carrier.
· Amt Billed – The total amount of the claims for which the insurance carrier has issued payments. You must look at this value, along with the % Rec’d, to compare insurance carriers because an insurance carrier may have a high % of Rec’d but generate little revenue because the Amt Billed is low.
B. Payment Times – Provides you with a snapshot of how promptly the insurance carrier has made payments. The following data is based on the date the claim was posted to the ledger:
· Min Days to Rec – The least number of days it took to receive a payment.
· Max Days to Rec – The greatest number of days it took to receive a payment.
· Avg Days to Rec – The average number of days it took to receive a payment.
C. Payment Totals – The combined payment totals for all insurance carriers.
D. Payment Times Totals – The combined payment time statistics for all insurance carriers.