--- title: What KPIs Show I Have Strong Revenue Cycle Management Practices? description: Here are several business KPIs that will demonstrate a positive impact on your bottom line. If your KPIs could be stronger, let's see how TIMS Software can help. image: https://www.cu.net/hubfs/IND%20blog%202018/KPI.jpg --- [![TIMS_Logo_Restricted_WHITE_Reverse_Final](https://www.cu.net/hs-fs/hubfs/identity/logos/2023%20Logos/TIMS_Logo_Restricted_WHITE_Reverse_Final.png?width=181&height=50&name=TIMS_Logo_Restricted_WHITE_Reverse_Final.png "TIMS_Logo_Restricted_WHITE_Reverse_Final")](https://www.cu.net/hme) [![TIMS_Logo_Restricted_RGB_Pos_Final](https://www.cu.net/hs-fs/hubfs/identity/logos/2023%20Logos/TIMS_Logo_Restricted_RGB_Pos_Final.png?width=184&height=50&name=TIMS_Logo_Restricted_RGB_Pos_Final.png "TIMS_Logo_Restricted_RGB_Pos_Final")](https://www.cu.net/hme) ** ** # Blog for Home & Durable Medical Equipment Providers We're a completely customizable solution with a dedicated team of software developers in-house. That means we can work together to make sure our system fits your HME/DME business like a (surgical) glove... even if you run things a little differently from others in the industry. Our users aren't confined to a cookie-cutter approach! # What KPIs Show I Have Strong Revenue Cycle Management Practices? POSTED ON:29 March, 2018 WRITTEN BY: [Computers Unlimited](https://www.cu.net/hme/blog/author/computers-unlimited) Tag: [Collections](https://www.cu.net/hme/blog/topic/collections), [Patient Intake](https://www.cu.net/hme/blog/topic/patient-intake), [Billing](https://www.cu.net/hme/blog/topic/billing), [Denial Management](https://www.cu.net/hme/blog/topic/denial-management), [A/R Collections Worklists](https://www.cu.net/hme/blog/topic/a-r-collections-worklists), [Revenue Cycle Management](https://www.cu.net/hme/blog/topic/revenue-cycle-management), [Smart Talk](https://www.cu.net/hme/blog/topic/smart-talk) ## Q: What KPIs show I have strong Revenue Cycle Management practices? A: Industry experts suggest that every team member have performance goals, engage in monthly feedback sessions with their team and manager, and receive incentives for performance improvements. If you have such a system in place, here are several business KPIs that will demonstrate a positive impact on your bottom line. ### 1. Our CSRs meet or exceed their [Patient Intake](https://www.cu.net/hme/referrals-patient-intake-revenue-cycle-management-tims-software) goals. When establishing goals, discuss ways to: - Shorten the time an intake remains in a certain state - Reduce or eliminate issues impacting their ability to confirm an order - Reduce the number of touch points on a document before acceptance - Reduce the number of document rejections ### 2. Our Collection Team is meeting or exceeding their [revenue goals](https://www.cu.net/hme/what-is-revenue-cycle-management-tims-software). Here are a few areas to consider: - Number of touches until payment - Percent of a collector’s claims resulting in a payment - Number of denials being worked daily ### 3. Our [Reimbursement Rate](https://www.cu.net/hme/claims-processing-revenue-cycle-management-tims-software) is improving month over month. If this is true, you have strategies in place to ensure: - Payers are not paying less than their contracted rates - All of your staff are trained to enter orders accurately the first time ### 4. Our Denial Rate is decreasing. To make this true, implement tactical decisions to reduce and prevent denials by: - Denial Code - Insurance - HCPCS - Intake Owner/CSR ### 5. We have [less claims on hold](https://www.cu.net/hme/claims-processing-revenue-cycle-management-tims-software) than we did at this time last year. This can be true if you have done feedback sessions and rewarded improvements within each team involved in the process: - Documentation team - Authorization team - Confirmation team - Billing team - Respiratory team ### 6. We know the reasons for [Write-Offs](https://www.cu.net/hme/business-intelligence-financial-reports-revenue-cycle-management-tims-software) and have strategies to reduce them. Being able to say this statement means you monitor your reports to find preventable bad debt write-offs: - By Referral and reason - By Collector and reason - By Insurance and reason In summary, you can rate the success of your [Revenue Cycle Management](https://www.cu.net/hme/what-is-revenue-cycle-management-tims-software) processes by challenging your business with each of these KPI statements. If any statement causes concern, look for proof in your reporting, and then develop and implement a tactical plan with the team. Your people are your best resource to overcome any challenge. --- ### Let's schedule some time to see what your Key Performance Indicators are telling you. [![Contact me for a tailored demo of TIMS. Gail Turner HME System Sales](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/60789/c3a7980e-1527-4ae8-bd27-e52f0c47e9d6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/60789/c3a7980e-1527-4ae8-bd27-e52f0c47e9d6) This article was originally written by Dan Greyn of Computers Unlimited for the 2018 Smart Talk column in the HME News Magazine. Published 2018-03-27. Modified 2021-11-02. 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