Welcome to manage the day scoreboard. This is a simple Excel spreadsheet that we have built for your practice to understand what metrics you should be looking at and tracking every single day. We will start with the stats definitions tab. This tab is meant to be used as a reference point to understand what information you should be putting in which cells on your daily scoreboard.
Let’s walk through this together. At the top, we have our doctor days. This is just simply how many doctor days we worked, usually one day will equal eight clinic hours and if there’s two full doctors there that day that would be two doctor days. Next, we have gross charges billed. Gross charges can be confusing for some people. In some electronic health-record systems or patient management systems or practice management systems this can be referred to as sales, charges, or production. This is essentially the original and customary fees that you charge prior to any adjustments, discounts, or write-offs. Next, we have our receipts. Receipts can also be called cash, collections, or deposits. This is the actual money that goes into the bank each day. You’ll notice that we want to be able to split up how our patients pay between cash, personal checks if you accept them, and patient credit card or debit cards. Then, if your practice accepts Care Credit, if you got any insurance checks or credit cards, and then finally if we received any EFT deposits for the day from any insurance companies.
Next, we want to be able to track the total number of comprehensive exams that we saw in the practice today. We want to be able to separate them between new and established patients but to take it a step further, it’s also important we understand what types of payors those patients have between health insurance, different vision plans, or self-pay to understand what our patient mix is. And then we want to do the same thing for established patients.
Next, we want to be able to check our total accounts receivable. Accounts receivable is the term that we use when referring to how much money is owed to us from insurance companies and patients for services that we’ve already provided but have yet to be paid for. We separate this out into patient AR and insurance AR. We also want to track any write-offs or adjustments that we’re done for the day, so we know the difference between what we charged and what we’re actually getting paid. Next, it’s very important that we track all patient refunds on any given day from all sources. It’s just as important to understand the money going out, as it is the same as money coming in. If you ever have any questions about what information goes in which cells on any given day, feel free to come back to the stats definition tap for an easy and simple review. Now, let’s move on.