Adopting ideal standards to optimize PFS performance.

Abstract

Establishing effective methods for measuring performance can help the patient financial services department detect and resolve billing problems, utilize resources, and ensure staff accountability. Criteria used to track performance should consider all areas that influence accounts receivable (A/R), cash flow, days in A/R, and bad debt. Directors should implement mechanisms to track appropriate functions on a weekly basis. External standards should be incorporated into department goals. Consideration should be given to payer mix, upfront collection philosophy, and available resources when comparing one's facility with others.