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If you've listened to this podcast for any length of time, you've probably heard me say that running a successful medical practice is a lot like practicing good medicine. You don't make decisions based on a single symptom. You gather data, look for patterns, identify root causes, and then prescribe the appropriate treatment. The same is true when managing the financial health of a medical practice.

Today, we're going to talk about two of the most important—and often misunderstood—key performance indicators in revenue cycle management: Gross Collections Percentage and Net Collections Percentage.

If you don't know these numbers for your practice, or if you receive them every month but aren't quite sure what they mean, this episode is for you. More importantly, I want to shift your thinking. These aren't just accounting metrics. They're diagnostic tools. They're your practice's financial vital signs. When you understand what they're trying to tell you, they can help you identify problems long before they become financial crises.

As we've discussed in previous episodes on key performance indicators and revenue cycle management, no single metric tells the whole story. Days in Accounts Receivable, denial rates, clean claim rates, aging reports, provider productivity, coding accuracy, charge lag, and patient collections all work together. Gross and Net Collections Percentages are two pieces of that larger puzzle, but they're incredibly valuable because they summarize how effectively your entire revenue cycle is functioning.

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Podcast coaching and development by: Jennifer Furlong, CEO, Communication Twenty-Four Seven https://www.communicationtwentyfourseven.com/