This key performance indicator (KPI) measures how long it takes a bill to leave the facility and go to the insurer after the date of service. While timely submission is important, some providers may get worried when this KPI reached more than six or seven days and encourage their staff to “hurry up” and get claims out the door. Too much emphasis on this indicator can lead to errors and missing information on claims, thus leading to increased denials and less clean claims. All of which ultimately negatively impact a practice’s cash flow.
It is important to balance the desire for speedy claim submission against the more important objective of submitting clean claims that are paid the first time. Learn more here: http://practicemax.com/challenges-we-solve/audit-protection/