AR Statistics

Accounts receivable statistics.​To get started, the accounts receivable team leader is assigned. If this is you, next you will visit with your doctors and office managers to set goals. It’s important to also communicate your goals with the rest of your team and report to them often.


Then, review each stat to determine if the information is already being gathered electronically, and if so, ensure your team is entering this data accurately and consistently. Then write down your process of data generation, which should include the name of the report, the location of the report, and any other relevant settings, such as report start date and end date. This ensures the data is being generated with consistency and will help maintain accuracy over time. If there is a stat that must be tracked manually, ensure you define, standardize, and communicate this process as well.​


Next, input stats from your accounts receivable monthly reports. The white cells are customizable and ready for data. Automated formulas will generate further calculations, such as aging percentage, by aging category, and the accounts receivable benchmark.  ​


We recommend to have no more than one or two lag measures, also called wildly important goals. Identify lead measures that will create leverage to execute or achieve your wildly important goals.​


If your lead measure stats improve and no momentum or leverage is created towards achieving your wildly important goal, you may have a bad lead measure. Visit with your doctors and office manager to brainstorm the relationships of your lead and lag measures, ensure data is being input accurately, and replace your lead measures if needed.​


All of the white cells under the aging categories must be populated in order to come up with your totals. If needed, go ahead and populate your unapplied, sent to collections, and insurance write-offs. Use the notes sections for special purposes.


Finally, add together your receipts from the last three months and total them here to calculate your accounts receivable benchmark.


With a comprehensive tool such as this, your potential for improvement is limitless! Becoming disciplined in stats is how you will grow to know your numbers. Reflect, communicate, and develop a habit of execution. These are keys to better practice performance.


We hope you are excited and feel empowered to run your stats sheet with purpose!


Next, let’s head over to the dashboard to see where the parties at.