Understanding your Key Performance Indicators (KPIs) is the first step in making improvements to your practice performance. Learn how to calculate KPIs and the impact they have on your financial performance
This document summarizes research on work-life balance among women employees. It discusses how achieving work-life balance requires self-leadership, such as good time management. It also outlines some strategies for managing work-life balance, like scheduling tasks. Additionally, it notes some challenges faced by working women, such as unshared domestic responsibilities and lack of control over their own income. Finally, the document concludes that work-life balance programs aim to provide employees flexibility to balance work and personal responsibilities.
This document discusses key performance indicators for biotechnology companies using Monsanto as a case study. It provides background on biotechnology and Monsanto, describing Monsanto as an American agribusiness pioneer in genetically modified crops. The document then defines key performance indicators as metrics used to evaluate organizational success or specific activities. It provides examples of KPIs for different industries and lists high technology, capital intensity, and public relations as important KPIs for biotechnology companies, suggesting ways to measure them such as R&D investments, financial statements, and public opinion surveys.
A full media strategy for a potential Starbucks social media campaign. Placing a large focus on "Stroller Moms," the campaign aims at promoting its low-calorie beverages towards the hard-working mothers of society.
The document outlines different types of attack strategies that can be used against competitors, including frontal attacks, flank attacks, encirclement attacks, bypass attacks, guerrilla attacks, and combinations of different strategies. It discusses when different attack strategies would be most effective based on factors like market homogeneity, brand equity, product differentiation, and customer loyalty.
This document outlines various offensive marketing strategies for attacking a market leader, including frontal, flanking, encirclement, bypass, guerrilla, and opposite attacks. It provides examples of companies like Nirma, Ujala, Red Bull, Seiko, and Dell that were able to challenge market leaders by exploiting weaknesses, focusing on niche segments, innovating products/services, or adopting alternative business models. Common attacking methods mentioned are lowering prices, introducing new products, innovating services/processes, and increasing advertising.
This document outlines a training program on project performance tracking, analysis, and reporting presented by Supreme Management Consultants. The two-day program will cover key topics such as performance indicators, developing and analyzing project objectives, benchmarking, measuring and monitoring performance, reporting, research methods, baselines, and information management systems. Fundamental concepts like defining projects, performance management, the project management triple constraint, life cycle, and performance cycle will also be discussed. Techniques like earned value management, control charts, and post-project evaluation will be examined.
This document discusses key performance indicators (KPIs) and how to effectively display them for project management. It defines KPIs and provides examples of common project KPIs like schedule progress and resource allocation. The document also outlines different types of widgets that can be used to visually represent KPIs, such as histograms, pie charts, and speedometers. It emphasizes that KPI displays should be concise and avoid clutter. Finally, it recommends using a dashboard to showcase multiple KPIs arranged in an easy-to-read format.
This document summarizes research on work-life balance among women employees. It discusses how achieving work-life balance requires self-leadership, such as good time management. It also outlines some strategies for managing work-life balance, like scheduling tasks. Additionally, it notes some challenges faced by working women, such as unshared domestic responsibilities and lack of control over their own income. Finally, the document concludes that work-life balance programs aim to provide employees flexibility to balance work and personal responsibilities.
This document discusses key performance indicators for biotechnology companies using Monsanto as a case study. It provides background on biotechnology and Monsanto, describing Monsanto as an American agribusiness pioneer in genetically modified crops. The document then defines key performance indicators as metrics used to evaluate organizational success or specific activities. It provides examples of KPIs for different industries and lists high technology, capital intensity, and public relations as important KPIs for biotechnology companies, suggesting ways to measure them such as R&D investments, financial statements, and public opinion surveys.
A full media strategy for a potential Starbucks social media campaign. Placing a large focus on "Stroller Moms," the campaign aims at promoting its low-calorie beverages towards the hard-working mothers of society.
The document outlines different types of attack strategies that can be used against competitors, including frontal attacks, flank attacks, encirclement attacks, bypass attacks, guerrilla attacks, and combinations of different strategies. It discusses when different attack strategies would be most effective based on factors like market homogeneity, brand equity, product differentiation, and customer loyalty.
This document outlines various offensive marketing strategies for attacking a market leader, including frontal, flanking, encirclement, bypass, guerrilla, and opposite attacks. It provides examples of companies like Nirma, Ujala, Red Bull, Seiko, and Dell that were able to challenge market leaders by exploiting weaknesses, focusing on niche segments, innovating products/services, or adopting alternative business models. Common attacking methods mentioned are lowering prices, introducing new products, innovating services/processes, and increasing advertising.
This document outlines a training program on project performance tracking, analysis, and reporting presented by Supreme Management Consultants. The two-day program will cover key topics such as performance indicators, developing and analyzing project objectives, benchmarking, measuring and monitoring performance, reporting, research methods, baselines, and information management systems. Fundamental concepts like defining projects, performance management, the project management triple constraint, life cycle, and performance cycle will also be discussed. Techniques like earned value management, control charts, and post-project evaluation will be examined.
This document discusses key performance indicators (KPIs) and how to effectively display them for project management. It defines KPIs and provides examples of common project KPIs like schedule progress and resource allocation. The document also outlines different types of widgets that can be used to visually represent KPIs, such as histograms, pie charts, and speedometers. It emphasizes that KPI displays should be concise and avoid clutter. Finally, it recommends using a dashboard to showcase multiple KPIs arranged in an easy-to-read format.
The document outlines a roadmap for defining project metrics and measures to track project success. It discusses establishing governance and scope, identifying key metrics, collecting baseline data, setting benchmarks and targets, reporting processes, implementation, and review. Metrics should be clearly defined, agreed upon, and tied to business goals to provide a common understanding of project status and performance.
Developing Metrics and KPI (Key Performance IndicatorsVictor Holman
Get a FREE performance management kit and access to all of Victor's full videos at:
www.lifecycle-performance-pros.com
This presentation covers the basics of developing successful performance metrics, from developing winning KPIs, learning how to develop the right metrics, the rules of developing KPIs and metrics and common performance metrics for managing a successful organization.
Key Performance Indicators (KPIs) should be used to understand performance and drive better decision-making. However, most companies struggle to find the vital few KPIs. Here is a list of the 25 top KPIs is use today.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
Project managers use Key Performance Indicators (KPIs) and dashboards to monitor and communicate the status of a project. KPIs should be measurable metrics that indicate if objectives are being met. Effective KPIs are specific, measurable, attainable, relevant and time-bound. KPIs can be quantitative or qualitative and should be selected to provide insights without overwhelming stakeholders with too much data. Dashboards consolidate multiple KPIs using visual widgets like charts, tables and gauges to give viewers a quick status update in an easy to understand format.
The document defines key performance indicators (KPIs) as quantifiable measures that help companies gauge their performance against strategic goals. KPIs vary by industry but generally measure aspects like sales, costs, and quality. The document outlines objectives for KPIs like improving understanding and awareness of performance. It also discusses characteristics of good KPIs like being specific, measurable, and time-bound. Finally, the document provides examples of common KPIs for industries like shipping/logistics and infrastructure development.
The document discusses various topics related to working capital, credit, and accounts receivable management. It defines key terms like cash conversion cycle, days' receivables, days' payables, and presents formulas to calculate them. It also discusses credit policies, objectives of credit management, reasons for offering credit, costs associated with credit, and techniques for monitoring and controlling accounts receivable like aging schedules and days' sales outstanding.
- Cash flow management is critical for business success and survival. Not managing cash flow properly is one of the biggest reasons why businesses fail.
- Days sales outstanding (DSO) is a key metric for understanding cash flow. DSO measures how quickly a company collects payment for goods and services from customers. Lowering DSO can free up cash.
- Tools like tracking average daily sales, accounts receivable, and DSO over time can help businesses better understand cash flow cycles and identify opportunities to accelerate cash inflows and slow outflows to improve the cash position. Accepting different payment methods, using technology for invoicing and payments, and improving collection efforts can help lower DSO.
Cash flow management is critical for business success and survival. Managing days sales outstanding (DSO) is an important cash flow metric. The document discusses how a local development firm struggled with cash flow as their business grew 30% annually due to slow customer payments averaging 45 days. Calculating DSO by dividing total accounts receivable by average daily sales can help identify cash flow issues. Improving DSO through faster payment collection, payment reminders, and payment options can free up trapped cash and fund further growth. Technology tools can help streamline invoicing and payments to accelerate cash inflows.
CFO Insight For Business Owners: How to Utilize Financial StatementsChase R. Morrison
CFO Insight: This is a primer on how to use financial statements to more effectively operate a privately held business and was used to educate new entrepreneurs at the Valley Economic Development Corporation in Sherman Oaks, CA.
The document discusses strategies for reviving struggling ambulatory surgery centers (ASCs). It identifies common issues facing struggling ASCs such as non-using surgeon partners, poor accounts receivable and payable management, low reimbursement from payers, and high supply costs. It then outlines operational strategies an ASC can take including conducting an operational audit, reviewing service contracts and equipment costs, developing a new business plan, and considering options for financing. Key processes for ASC success are also discussed.
This document summarizes key aspects of managing receivables, including:
1) Defining receivables as unpaid amounts from credit sales and outlining objectives like collecting accounts receivable.
2) Explaining reasons companies offer credit like promoting sales and factors affecting credit policies like collection costs.
3) Describing steps in determining credit policies including evaluating customers' character, capital, and repayment ability.
4) Outlining collection policies for overdue accounts involving escalating efforts like phone calls, visits, and legal action if needed.
The document discusses key concepts in managing cash and credit for a business. It covers reasons for holding cash, understanding float, cash collection and disbursement techniques, investing idle cash, and analyzing credit policies and receivables. Inventory management techniques like ABC analysis and the economic order quantity model are also summarized. The document provides examples to illustrate calculating float, accelerating cash collections, evaluating changes to credit policies, and determining optimal inventory levels.
This document discusses receivables, bad debt expense, and analyzing receivables. It covers types of receivables like accounts receivable and notes receivable. It discusses how companies estimate and record bad debt expense using the percentage of sales method and percentage of receivables (aging) method. It also covers write-offs of uncollectible accounts and analyzing receivables through metrics like accounts receivable turnover and days sales outstanding.
The document discusses key performance indicators (KPIs) for optometry practices. It provides an introduction to KPIs and how they can help practice owners assess the health of their business. The document outlines how to select important data to measure as KPIs, such as revenue, patient volume, and expenses. It also provides examples of sample KPI reports that track metrics over time to identify trends. The document emphasizes that regularly measuring and monitoring KPIs allows practice owners to react quickly to changes and plan effectively.
The document discusses the differences between budgets and forecasts, with budgets being annual goals and forecasts providing more frequent updates on actual performance. It also covers creating annualized cash flow projections and periodic cash flow projections on a weekly or monthly basis to better understand liquidity over time. The CEO's role in financial management is also outlined, including understanding key metrics and ensuring accurate financial reporting and cash flow management.
Account receivable and Inventory Management lecture 11,12,13ASAD ALI
The document discusses current asset management of accounts receivable and inventory. It provides an overview of accounts receivable management including establishing credit policies, credit terms, and collection policies. It explains why firms accumulate accounts receivable and inventory and defines key terms. The document also discusses finding the optimal level of accounts receivable and inventory using methods like the economic order quantity model. It analyzes the benefits and costs of different inventory and accounts receivable levels.
The document provides accounting information for a company that purchased new equipment and disposed of its old equipment. It shows the calculation of depreciation expense over 5 years for the old equipment. It also shows the calculation of a $18,000 gain on disposal of the old equipment by taking the fair value of $50,000 and subtracting the book value of $32,000. The gain is recorded by debiting machinery for the new equipment of $62,000 and crediting accumulated depreciation for $80,000 to record the disposal of the old equipment.
This document provides an overview of key concepts related to financial statements and the auditor's opinion. It discusses the accounting cycle including recording transactions, adjusting entries, and preparing financial statements. It then explains the main financial statements - the income statement, balance sheet, statement of owners' equity, and statement of cash flows. The document also covers consolidated financial statements, important aspects of financial reporting, and the different types of auditor's opinions that may be issued.
The document outlines a roadmap for defining project metrics and measures to track project success. It discusses establishing governance and scope, identifying key metrics, collecting baseline data, setting benchmarks and targets, reporting processes, implementation, and review. Metrics should be clearly defined, agreed upon, and tied to business goals to provide a common understanding of project status and performance.
Developing Metrics and KPI (Key Performance IndicatorsVictor Holman
Get a FREE performance management kit and access to all of Victor's full videos at:
www.lifecycle-performance-pros.com
This presentation covers the basics of developing successful performance metrics, from developing winning KPIs, learning how to develop the right metrics, the rules of developing KPIs and metrics and common performance metrics for managing a successful organization.
Key Performance Indicators (KPIs) should be used to understand performance and drive better decision-making. However, most companies struggle to find the vital few KPIs. Here is a list of the 25 top KPIs is use today.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
Project managers use Key Performance Indicators (KPIs) and dashboards to monitor and communicate the status of a project. KPIs should be measurable metrics that indicate if objectives are being met. Effective KPIs are specific, measurable, attainable, relevant and time-bound. KPIs can be quantitative or qualitative and should be selected to provide insights without overwhelming stakeholders with too much data. Dashboards consolidate multiple KPIs using visual widgets like charts, tables and gauges to give viewers a quick status update in an easy to understand format.
The document defines key performance indicators (KPIs) as quantifiable measures that help companies gauge their performance against strategic goals. KPIs vary by industry but generally measure aspects like sales, costs, and quality. The document outlines objectives for KPIs like improving understanding and awareness of performance. It also discusses characteristics of good KPIs like being specific, measurable, and time-bound. Finally, the document provides examples of common KPIs for industries like shipping/logistics and infrastructure development.
The document discusses various topics related to working capital, credit, and accounts receivable management. It defines key terms like cash conversion cycle, days' receivables, days' payables, and presents formulas to calculate them. It also discusses credit policies, objectives of credit management, reasons for offering credit, costs associated with credit, and techniques for monitoring and controlling accounts receivable like aging schedules and days' sales outstanding.
- Cash flow management is critical for business success and survival. Not managing cash flow properly is one of the biggest reasons why businesses fail.
- Days sales outstanding (DSO) is a key metric for understanding cash flow. DSO measures how quickly a company collects payment for goods and services from customers. Lowering DSO can free up cash.
- Tools like tracking average daily sales, accounts receivable, and DSO over time can help businesses better understand cash flow cycles and identify opportunities to accelerate cash inflows and slow outflows to improve the cash position. Accepting different payment methods, using technology for invoicing and payments, and improving collection efforts can help lower DSO.
Cash flow management is critical for business success and survival. Managing days sales outstanding (DSO) is an important cash flow metric. The document discusses how a local development firm struggled with cash flow as their business grew 30% annually due to slow customer payments averaging 45 days. Calculating DSO by dividing total accounts receivable by average daily sales can help identify cash flow issues. Improving DSO through faster payment collection, payment reminders, and payment options can free up trapped cash and fund further growth. Technology tools can help streamline invoicing and payments to accelerate cash inflows.
CFO Insight For Business Owners: How to Utilize Financial StatementsChase R. Morrison
CFO Insight: This is a primer on how to use financial statements to more effectively operate a privately held business and was used to educate new entrepreneurs at the Valley Economic Development Corporation in Sherman Oaks, CA.
The document discusses strategies for reviving struggling ambulatory surgery centers (ASCs). It identifies common issues facing struggling ASCs such as non-using surgeon partners, poor accounts receivable and payable management, low reimbursement from payers, and high supply costs. It then outlines operational strategies an ASC can take including conducting an operational audit, reviewing service contracts and equipment costs, developing a new business plan, and considering options for financing. Key processes for ASC success are also discussed.
This document summarizes key aspects of managing receivables, including:
1) Defining receivables as unpaid amounts from credit sales and outlining objectives like collecting accounts receivable.
2) Explaining reasons companies offer credit like promoting sales and factors affecting credit policies like collection costs.
3) Describing steps in determining credit policies including evaluating customers' character, capital, and repayment ability.
4) Outlining collection policies for overdue accounts involving escalating efforts like phone calls, visits, and legal action if needed.
The document discusses key concepts in managing cash and credit for a business. It covers reasons for holding cash, understanding float, cash collection and disbursement techniques, investing idle cash, and analyzing credit policies and receivables. Inventory management techniques like ABC analysis and the economic order quantity model are also summarized. The document provides examples to illustrate calculating float, accelerating cash collections, evaluating changes to credit policies, and determining optimal inventory levels.
This document discusses receivables, bad debt expense, and analyzing receivables. It covers types of receivables like accounts receivable and notes receivable. It discusses how companies estimate and record bad debt expense using the percentage of sales method and percentage of receivables (aging) method. It also covers write-offs of uncollectible accounts and analyzing receivables through metrics like accounts receivable turnover and days sales outstanding.
The document discusses key performance indicators (KPIs) for optometry practices. It provides an introduction to KPIs and how they can help practice owners assess the health of their business. The document outlines how to select important data to measure as KPIs, such as revenue, patient volume, and expenses. It also provides examples of sample KPI reports that track metrics over time to identify trends. The document emphasizes that regularly measuring and monitoring KPIs allows practice owners to react quickly to changes and plan effectively.
The document discusses the differences between budgets and forecasts, with budgets being annual goals and forecasts providing more frequent updates on actual performance. It also covers creating annualized cash flow projections and periodic cash flow projections on a weekly or monthly basis to better understand liquidity over time. The CEO's role in financial management is also outlined, including understanding key metrics and ensuring accurate financial reporting and cash flow management.
Account receivable and Inventory Management lecture 11,12,13ASAD ALI
The document discusses current asset management of accounts receivable and inventory. It provides an overview of accounts receivable management including establishing credit policies, credit terms, and collection policies. It explains why firms accumulate accounts receivable and inventory and defines key terms. The document also discusses finding the optimal level of accounts receivable and inventory using methods like the economic order quantity model. It analyzes the benefits and costs of different inventory and accounts receivable levels.
The document provides accounting information for a company that purchased new equipment and disposed of its old equipment. It shows the calculation of depreciation expense over 5 years for the old equipment. It also shows the calculation of a $18,000 gain on disposal of the old equipment by taking the fair value of $50,000 and subtracting the book value of $32,000. The gain is recorded by debiting machinery for the new equipment of $62,000 and crediting accumulated depreciation for $80,000 to record the disposal of the old equipment.
This document provides an overview of key concepts related to financial statements and the auditor's opinion. It discusses the accounting cycle including recording transactions, adjusting entries, and preparing financial statements. It then explains the main financial statements - the income statement, balance sheet, statement of owners' equity, and statement of cash flows. The document also covers consolidated financial statements, important aspects of financial reporting, and the different types of auditor's opinions that may be issued.
A detailed look at why SaaS business are so different from traditional software companies, and why traditional ways of looking at their finances fail to understand the business. Provides an alternative set of metrics that show the right way to look at a SaaS business.
For more on the SaaS business model and Metrics, see this blog post:
www.forentrepreneurs.com/saas-metrics-2/
My Business is Growing, Now What? Financial Management Skills for the Entrepr...McKonly & Asbury, LLP
The document discusses building successful employee relationships as a cornerstone to fraud prevention and risk management. It covers introducing David Blain and Michael Hoffner, partners at McKonly & Asbury, who will discuss financial management skills for entrepreneurs. They will focus on balance sheet management, cash flow management, why ratios are important, and developing long term value. Questions are welcomed at the end.
This document provides an overview of key elements for sound financial management of non-profits. It discusses the importance of having a strong budget process, timely management reports, strong internal controls, consistent documentation, and conducting self-assessments. Specific tools and processes are presented for each element, such as how to build budgets, examples of monthly reports, internal control policies around segregation of duties and restricted funds, sample documentation forms, and steps for self-evaluation. The overall message is that being faithful in implementing these financial fundamentals daily will help non-profits achieve their missions and access more resources.
Creditor’s Turnover Ratio is also known as Payables Turnover Ratio, Creditor’s Velocity and Trade Payables Ratio. It is an activity ratio that finds out the relationship between net credit purchases and average trade payables of a business.
It finds out how efficiently the assets are employed by a firm and indicates the average speed with which the payments are made to the trade creditors.
It is calculated by the following formula:
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The "Comprehensive Rainy Season Advisory: Safety and Preparedness Tips" offers essential guidance for navigating rainy weather conditions. It covers strategies for staying safe during storms, flood prevention measures, and advice on preparing for inclement weather. This advisory aims to ensure individuals are equipped with the knowledge and resources to handle the challenges of the rainy season effectively, emphasizing safety, preparedness, and resilience.
Joker Wigs has been a one-stop-shop for hair products for over 26 years. We provide high-quality hair wigs, hair extensions, hair toppers, hair patch, and more for both men and women.
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2024 HIPAA Compliance Training Guide to the Compliance OfficersConference Panel
Join us for a comprehensive 90-minute lesson designed specifically for Compliance Officers and Practice/Business Managers. This 2024 HIPAA Training session will guide you through the critical steps needed to ensure your practice is fully prepared for upcoming audits. Key updates and significant changes under the Omnibus Rule will be covered, along with the latest applicable updates for 2024.
Key Areas Covered:
Texting and Email Communication: Understand the compliance requirements for electronic communication.
Encryption Standards: Learn what is necessary and what is overhyped.
Medical Messaging and Voice Data: Ensure secure handling of sensitive information.
IT Risk Factors: Identify and mitigate risks related to your IT infrastructure.
Why Attend:
Expert Instructor: Brian Tuttle, with over 20 years in Health IT and Compliance Consulting, brings invaluable experience and knowledge, including insights from over 1000 risk assessments and direct dealings with Office of Civil Rights HIPAA auditors.
Actionable Insights: Receive practical advice on preparing for audits and avoiding common mistakes.
Clarity on Compliance: Clear up misconceptions and understand the reality of HIPAA regulations.
Ensure your compliance strategy is up-to-date and effective. Enroll now and be prepared for the 2024 HIPAA audits.
Enroll Now to secure your spot in this crucial training session and ensure your HIPAA compliance is robust and audit-ready.
https://conferencepanel.com/conference/hipaa-training-for-the-compliance-officer-2024-updates
About this webinar: This talk will introduce what cancer rehabilitation is, where it fits into the cancer trajectory, and who can benefit from it. In addition, the current landscape of cancer rehabilitation in Canada will be discussed and the need for advocacy to increase access to this essential component of cancer care.
The facial nerve, also known as cranial nerve VII, is one of the 12 cranial nerves originating from the brain. It's a mixed nerve, meaning it contains both sensory and motor fibres, and it plays a crucial role in controlling various facial muscles, as well as conveying sensory information from the taste buds on the anterior two-thirds of the tongue.
Exploring the Benefits of Binaural Hearing: Why Two Hearing Aids Are Better T...Ear Solutions (ESPL)
Binaural hearing using two hearing aids instead of one offers numerous advantages, including improved sound localization, enhanced sound quality, better speech understanding in noise, reduced listening effort, and greater overall satisfaction. By leveraging the brain’s natural ability to process sound from both ears, binaural hearing aids provide a more balanced, clear, and comfortable hearing experience. If you or a loved one is considering hearing aids, consult with a hearing care professional at Ear Solutions hearing aid clinic in Mumbai to explore the benefits of binaural hearing and determine the best solution for your hearing needs. Embracing binaural hearing can lead to a richer, more engaging auditory experience and significantly improve your quality of life.
R3 Stem Cell Therapy: A New Hope for Women with Ovarian FailureR3 Stem Cell
Discover the groundbreaking advancements in stem cell therapy by R3 Stem Cell, offering new hope for women with ovarian failure. This innovative treatment aims to restore ovarian function, improve fertility, and enhance overall well-being, revolutionizing reproductive health for women worldwide.
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GEMMA Wean is a high end larval co-feeding and weaning diet aimed at Artemia optimisation and is fortified with a high level of proteins and phospholipids. GEMMA Wean provides the early weaned juveniles with dedicated fish nutrition and is an ideal follow on from GEMMA Micro or Artemia.
GEMMA Wean has an optimised nutritional balance and physical quality so that it flows more freely and spreads readily on the water surface. The balance of phospholipid classes to- gether with the production technology based on a low temperature extrusion process improve the physical aspect of the pellets while still retaining the high phospholipid content.
GEMMA Wean is available in 0.1mm, 0.2mm and 0.3mm. There is also a 0.5mm micro-pellet, GEMMA Wean Diamond, which covers the early nursery stage from post-weaning to pre-growing.
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Christina Spears, breast cancer genetic counselor at the Ohio State University Comprehensive Cancer Center, joined us for the MBC Support Group for Black Women to discuss the importance of genetic testing in communities of color and answer pressing questions.
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The best massage spa Ajman is Chandrima Spa Ajman, which was founded in 2023 and is exclusively for men 24 hours a day. As of right now, our parent firm has been providing massage services to over 50,000+ clients in Ajman for the past 10 years. It has about 8+ branches. This demonstrates that Chandrima Spa Ajman is among the most reasonably priced spas in Ajman and the ideal place to unwind and rejuvenate. We provide a wide range of Spa massage treatments, including Indian, Pakistani, Kerala, Malayali, and body-to-body massages. Numerous massage techniques are available, including deep tissue, Swedish, Thai, Russian, and hot stone massages. Our massage therapists produce genuinely unique treatments that generate a revitalized sense of inner serenely by fusing modern techniques, the cleanest natural substances, and traditional holistic therapists.
1. The Power of Key Performance Indicators
Know your KPIs
2. • Take a deep dive into your performance
– What are your Key Performance Indicators?
– Are you collecting every dime that is collectible?
– Are your payers slow to pay?
– What are your Days in A/R?
– What is your Average Reimbursement per encounter?
– What is your true Net Collection Rate?
• Compare to industry benchmarks for your specialty
• Compare to your running 6 month average for trending
• Identify the areas that need improvement
• Identify processes that need improvement
• Identify if money is leaking
“Less than excellence is not an option”
Assess Financial Performance – Measure KPIs
3. Why do you need to know your KPIs?
―What gets measured gets managed.‖
―What doesn’t get measured doesn’t get managed.‖
―What gets measured gets done.‖
―To measure is to know.‖
―If you can't measure it, you can't improve it.‖
- Peter Drucker
4. Reports Needed to Calculate KPIs
• Reimbursement Analysis – 12 month period
– By Date of Service ***
– By Payer Group (Financial Class)
• Transaction Summary Report – 12 month period
– By effective date ***
– By Payer Group (Financial Class)
• Accounts Receivable Aging
– Total A/R broken into aging buckets ***
– By Payer Group (Financial Class)
– By Responsibility (Insurance vs Patient)
*** minimum information needed for trending and benchmarks
5. What are Key Performance Indicators?
Key performance indicators (KPIs) – Definition
Metrics that can help you determine whether your revenue
management cycle processes are efficient and effective
• A/R Over 120
– Total Accounts Receivable Over 120
– Patient A/R Over 120
• Days in A/R
• Reimbursement Rates
– Gross Collection Rate
– Net Collection Rate
– True Net Collection Rate
• Average Reimbursement per Encounter
• First Pass Resolution Rates
• Denial Rates
6. A/R > 120 - KPI
Definition - Total amount owed to practice for services rendered either
by 3rd party insurance or patients that is 120 days old or older.
• Accounts Receivable (A/R) is generally grouped into aging buckets based
on 30-day increments of elapsed time (30, 60, 90, 120 days).
• Total A/R that falls into the inclusive A/R>120 bucket.
• Benchmark: Less than 25% of your A/R should be in the >120 days bucket.
– Benchmarks exist per specialty
• The percentage of accounts receivable greater than 120 days old (A/R>120)
is a measure of a practice’s ability to obtain timely reimbursement.
• Identify what your 120+ is made up of.
– By Payer Group or Financial Class
– Uncollectable A/R?
• What are your write-off policies, insurance follow-up policies?
• What do your denials look like and the processes you follow to work denials?
– Patient responsibility?
• What are your processes for collecting co-pay, eligibility verification, pre-
authorization processes? Are you collecting amounts applied to deductible?
7. A/R > 120 - Calculating
• Calculation
Dollar Value of A/R >120 Days / Dollar Value of Total A/R
• Example:
• Total A/R = $538,874
• A/R > 120 Days = $266,275
• $266,275 / $538,874 = 49%
Practice A/R 0-120 Over 120 Balance
No Unapplied Amts $272,599.33 $266,275.16 $538,874.49
Percentages 50.6% 49.4% 100%
A/R 0-120 Over 120 Balance
Benchmark $425,710.85 $113,163.64 $538,874.49
Percentages 79.0% 21.0% 100%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
A/R > 120 Days Compared to
Benchmark
Practice A/R
Benchmark
Benchmarking on A/R > 120
8. A/R > 120 - Impact
• If the A/R over 120 is insurance
– Timely filing risk
– Indicates insurance is not being followed-up in timely manner
– Indicates insurance denials may not be worked effectively
• MGMA states 25% of denials and no-response claims are never
• If the A/R over 120 is patient – bad news
– Consider this – you have 21% chance of collecting money from patients if
you let the patient balance reach 120 days old
Impact of Patient A/R>120
Patient A/R Over 120 364,130.90$
Patient A/R 91-120 21,867.08$
Total 385,997.98$
Probable LEAK 302,970.37$
**79% of Patient A/R over 120 never collected
**70% of Patient A/R over 90 not likely to pay
Is money lost?
No but possible
Is money lost?
No but probable
Impact of A/R over 120 Days
Current A/R Over 120 381,073.44$
Benchmark A/R >120 55,367.14$
Difference 325,706.30$
At NET 146,567.84$
9. Days in A/R - KPI
Definition – Average number of days it takes a practice to get paid.
• Days in accounts receivable (A/R) is perhaps the single most
important revenue cycle metric because it tells a practice the
number of days that money owed remains unpaid.
• The lower the number, the faster a practice is obtaining payment on
average.
• Days in A/R should stay below 50 days at minimum, but should
generally be more in the 30-40 day range
• Benchmarks for Specialty exist
• Caution: Low Days in A/R doesn’t necessarily mean you are
collecting all collectible money. What if you are writing off collectible
money because it went uncollected? Your Days in A/R may look
great but did you collect everything that could have been collected?
10. Days in A/R - Calculating
Step 1: Determine your total current receivables, then subtract any
credits. Credits are funds owed by the practice to others. They offset
receivables; therefore, you must subtract credits from receivables.
Step 2: Determine your average daily charge amount by dividing total
gross charges for the last 12 months by 365 days
Step 3: Divide the total from Step 1 (receivables) by the total from Step
2 (charge amount).
• Calculation:
Total Receivables ÷ (Average Daily Charge Amount) = Days in A/R
• Example:
• Total Billed Charges (12 months) = $18,000,000
• Total Accounts Receivable = $2,000,000
• $18,000,000 ÷ 365 = $49,315.10 - Avg Charges per day
• $2,000,000 ÷ $49,315.10 = 41 - Days in A/R
11. Days in A/R - Impact
• Delayed money in door
• Days in A/R by Payer can identify slow to pay carriers
• Indicates poor revenue cycle management processes overall
– Charge lag, timely filing, lack of follow-up, lack of front-end
processes to collect, verify, pre-cert., etc.
• Does this mean $202,629 from example is money that is lost? NO
• It means there is an opportunity to get $202,629 in the door much
faster and avoid putting that money at risk of not being collected in a
timely manner
Impact of Days in A/R
1 Day of charges $49,315.10
Days in A/R 41
Benchmark 31
Current A/R $2,000,000.00
Total A/R at Benchmark $1,528,768.10
Difference $471,231.90
At Net $202,629.72
12. Additional Tips on Days in A/R
• Collection accounts—Accounts sent to a collection agency are often
written off the current receivables. As a result, they are not part of
the days in A/R equation. Sending accounts to collections may
improve days in A/R, but camouflage deeper issues.
– Tip: Calculate days in A/R with and without accounts sent to
collections to see a true picture of the situation.
• Credit balances—They offset receivables; therefore, you must
subtract credits from receivables.
– Tip: Monitor these statistics separately.
13. Reimbursement Rates
• Reimbursement Analysis Report
– Run by DOS – Payment and Adjustments tied to charges
– Run for 12 month period going back at least 90 days
– Adjustments (Insurance Adjustments and Other Adjustments)
– Payments (Insurance Payments and Patient Payments)
– Number of Encounters
– Example: 02/01/2014 – 01/30/2015 (90 days back)
– Example: 01/01/2014 – 12/31/2014 (120 days back)
GCR (Gross Collection Rate) = Payments / Charges
NCR (Net Collection Rate) = Payments + Adjustments / Charges
NCR (True Net Collection Rate) = Payments / Charges - Contractual Adjustments
14. Reimbursement Analysis Report - EXAMPLE
DOS Encounters Billed Charges
Insurance
Payments
Patient
Payments Total Payments
Insurance
Adjustments
Patient
Adjustments
Total
Adjustments
2013-10 448 353,150.09$ 111,148.79$ 12,654.09$ 123,802.88$ 197,342.19$ 20,965.30$ 218,307.49$
2013-11 330 251,696.74$ 63,386.39$ 12,913.30$ 76,299.69$ 150,742.21$ 8,524.71$ 159,266.92$
2013-12 319 214,231.43$ 51,642.03$ 15,470.74$ 67,112.77$ 102,260.85$ 30,786.80$ 133,047.65$
2014-01 300 281,597.15$ 73,401.32$ 11,002.32$ 84,403.64$ 172,286.56$ 17,773.27$ 190,059.83$
2014-02 243 175,488.68$ 41,801.07$ 10,039.32$ 51,840.39$ 99,205.09$ 18,719.99$ 117,925.08$
2014-03 296 349,391.93$ 63,490.07$ 17,369.53$ 80,859.60$ 230,861.22$ 9,461.61$ 240,322.83$
2014-04 323 356,448.26$ 97,308.94$ 17,017.31$ 114,326.25$ 205,994.15$ 26,296.37$ 232,290.52$
2014-05 213 193,886.49$ 45,520.58$ 14,722.31$ 60,242.89$ 111,462.93$ 7,413.42$ 118,876.35$
2014-06 265 263,173.64$ 68,334.79$ 11,008.87$ 79,343.66$ 157,246.01$ 10,023.20$ 167,269.21$
2014-07 257 230,667.76$ 49,410.85$ 26,983.96$ 76,394.81$ 115,126.61$ 18,369.83$ 133,496.44$
2014-08 253 337,024.07$ 68,373.19$ 8,266.12$ 76,639.31$ 197,462.91$ 29,507.48$ 226,970.39$
2014-09 216 246,109.92$ 59,623.24$ 6,628.79$ 66,252.03$ 161,357.49$ 5,239.87$ 166,597.36$
Totals 3463 3,252,866.16$ 793,441.26$ 164,076.66$ 957,517.92$ 1,901,348.22$ 203,081.85$ 2,104,430.07$
• From this report
– Gross Collection Rates per month and average
– Net Collection Rate per month and average
– True Net Collection Rate per month and average
– Average Reimbursement per Encounter per month and average
15. Gross Collection Rate - KPI
Definition – Percentage of Gross Charges Collected
• There are benchmarks per specialty.
• Fee schedules can impact this greatly
– Very high fee schedules produce lower GCR
– Really low rates – fee schedules may need to be reviewed
• 120-130% of Medicare fee schedules?
– Really high rates – fee schedules may need to be reviewed
• Are you charging less than what is allowed?
– If high variance from benchmark – review GCR by payer
• Trending is good to look at GCR month after month
Indicator PSR Range **
Annual Gross Charges * $1,864,217 - 2,446,785
Gross Collections Percentage 45 - 49
Net Collection Percentage 98.6 - 99.6
17. Net Collection Rate - KPI
Definition - Percentage of Charges that were collected or adjusted off
• Formula: Payments + Adjustments Divided by Charges
• Caution: If using ALL Adjustments in this formula
– If number is high - Ideal
• Practice is billing out timely
• Claims are adjudicated (contractual adjustments are made)
• Patient balances are all collected
– If number is high
• Practice is billing out timely
• Claims are adjudicated (contractual adjustments are made)
• Patient balances are NOT collected (other adjustments are made)
– If number is high
• Practice is billing out timely
• Claims are adjudicated and denied (contractual adjustments are
disguised or adjusted off due to uncollectible reasons)
• Patient balances are NOT collected (patient adjustments are made)
19. Adjusted Net Collection Rate - KPI
Definition – The adjusted collection rate represents the percentage of
reimbursement collected from the total amount allowed based on contractual
agreements and other payments,
i.e., what you collected versus what you could have/should have collected.
• Cash collections divided by net charges (charge value)
– Net charges are the difference between gross charges and required government
and third party adjustments.
• This is using Contractual Adjustments only
• If number is high
– Practice is billing out timely
– Claims are adjudicated (contractual adjustments are made)
– Patient balances are all collected (not a lot of non-contractual adjustments)
• If number is low
– Practice is not billing out timely and/or claims are not being followed-up
– Balances are not being collected after payer adjudication
– Money is not being collected
– Caution: All contractual adjustments may not be in system – (Back up 90 days) –
all claims should be adjudicated by then. Compare Contractual Adjustment
percentages to fee schedules. Key is getting Allowable Amounts for your charge
value. Check your Contractual Adjustments and if you are in line – this
represents the REAL NUMBER.
20. Adjusted Net Collection Rate - Calculating
• Calculation
Adjusted NCR (True Net Collections) = Payments / Charges - Contractual Adj.
• Example:
• Total Payments (12 months) = $3,168,150
• Total Billed Charges (12 months) = $7,213,597
• Total Contractual Adj. (12 months) = $3,575,354
• $3,168,150 / ($7,213,597-$3,575,354) = 87.08% Adj. Net Collections
Charges Payments Contractual Adj Manual Adj GCR NCR True NCR
$7,213,597.62 $3,168,150.98 $3,575,354.27 $138,945.37 43.92% 95.41% 87.08%
January 2014 - December 2014
21. Average Reimbursement per Encounter - KPI
Definition - This is the average amount a practice collects per
encounter.
• When benchmarked within a specialty, this metric gives practices a
sense of whether they’re performing well or could realistically be
bringing in more money. When tracked over time and compared with
historical practice results, it provides a simple, yet powerful gauge of
whether your practice is trending in a positive or negative direction,
so if negative, your practice must take steps to get back on track
– Examples:
– Diversifying your patient or payer mix
– Improving collections – assess your current performance
– E&M Utilization review – assess your current performance
– Review fee schedules
22. Average Reimbursement Encounter - Calculating
• Calculation
Total Encounters (12 months) / Total Payments (12 months)
• Example:
• Total Payments (12 months) = $957,517
• Total Encounters (12 months) = 3463
• Average Reimbursement per Encounter = $276.50
• $957,517 / 3463 = $276.50 Avg Reimbursement per Encounter
Benchmarking on Average
Reimbursement per Encounter
23. First Pass Resolve Rate - KPI
Definition - Percent of claims that are successfully resolved on the initial
submission (e.g., paid or transferred to patient responsibility).
• Calculation
Total claims submitted first pass / Total claims paid
• Practice wants this to be high. Less deals to work and less deals to follow
up on if paid first time. 95% or higher is great
• Most systems don’t track this
• MGMA states 25% of all claims not paid are never followed up on
• Why are they not getting paid?
– What are the denial reasons and categories?
• What are your processes?
– How do you follow up on delinquent claims?
– How do you check for under-payments even if you got paid?
– Who on your staff handles the follow-up process?
24. Denial Rate - KPI
Definition - Percent of claims (both pended and denied) that require the practice to
perform back-end rework.
• Practice wants this to be low. Less denials to work. 4% or lower is great
(benchmarks are available)
• MGMA states 25% of denials are never paid.
• MGMA states cost to work denial is $49/claim.
• Why are they getting denied?
– What are the denial reasons and categories?
• Eligibility Verification
• Authorizations
• Coding
• Enrollment/Credentialing
• Process questions
– How do you work denied claims?
– Who on your staff works denials?
– How do you verify eligibility?
– Check-in processes?
Benchmarking on Denials
0.00%
5.00%
10.00%
15.00%
2014-12
2014-10
2014-08
2014-06
2014-04
2014-02
DenialRate
Denial Rate
Benchmark
Financial Impact of Denials and No-
Response
Impact of Denied and No-Response Claims
Charges Denied/No-response $834,600.00
25% (MGMA *RISK) 208,650.00$
Amount at RISK At Net 93,892.50$
GCR used to calculate At Net