EPISODE SUMMARY
Is your practice’s bank balance giving you a false sense of security? In this episode, Jeremy Zug moves the game piece into the territory of Payment Posting. While it might sound as exciting as watching paint dry, Jeremy breaks down why this "menial chore" is actually the scorecard for your entire practice. We’re moving from the dopamine hit of seeing money in the bank to the precision of knowing why it's there.
Jeremy dives into the three critical KPIs you need to track today to ensure you aren't "guessing" with your finances or accidentally billing your patients "ghost money." If you want to know if you're actually winning the game or just slowly bleeding out, this episode is your diagnostic check-up.
KEYWORDS
Revenue Cycle Management (RCM), Payment Posting, Key Performance Indicators (KPIs), Claim Denials, Electronic Remittance Advice (ERA), Explanation of Benefits (EOB), Timely Filing, Practice Health Check, Mental Health Billing
TAKEAWAYS
The Bank Balance Trap: Seeing a deposit is great, but if you don't know if it matches your contract, you aren't winning; you're guessing.
Time to Post (The Speed Score): Don't drive with a delayed GPS. If your posting lags, your aging reports become fiction, leading to wasted hours calling insurance companies for money they've already sent.
Payment Posting Accuracy (The Precision Score): Use a simple pass-fail audit. Even a one-cent variance is a fail. Precision prevents "ghost money" errors that destroy patient trust.
Days to Denial Discovery (The Friction Score): This is the ticking bomb. You have to find denials before the "timely filing" clock runs out, or that revenue is gone forever.
The Power of Auditing: Tracking these metrics is like checking your blood pressure; it's the only way to prevent a financial "heart attack" down the road.
CHAPTERS
00:00 Introduction: Advancing the Game Board — Payment Posting KPIs
02:37 Playing Blindfolded: Why KPIs Matter
05:27 KPI #1: Time to Post Payments
07:45 KPI #2: Payment Posting Accuracy
11:22 KPI #3: Average Days to Denial Discovery
13:41 Case Study: One Million Dollars in Preventable Denials
15:18 Conclusion: Stop Guessing, Start Tracking
RESOURCES
Today Sponsors: Jane | One Month Grace Period Promo Code: PRACTICESOLUTIONS1MO
Learn More About The Claim Game: Visitpracticesol.com/podcast
The Hourglass Learning Hub: Dive deeper into RCM best practices and downloadable tools mentioned in this episode, like the various checklists and templates, by visitingThe Hourglass Learning Hub.
Our Blog: Explore years of educational articles on billing and practice management atPractice Solutions Blog.
Book: For a comprehensive guide on navigating insurance, grab your copy of Insurance Billing Basics: Steps for Therapists to Successfully Take Insurance.
Images: Payment Posting KPI Dashboard
