Category:

Service Case Study


Publish Date:

Oct 21, 2024


Track essential performance metrics like Days in Accounts Receivable (AR), Net Collection Rate, and Claim Denial Rate to ensure maximum financial outcomes. With industry standards guiding KPIs, Pena4 strives for high collection rates and patient satisfaction, while keeping denial rates and write-offs low.

S.No. Key Performance Indicator Description Industry Standard
01. Days in Accounts Receivable (AR) Average number of days it takes to collect payments after a service is rendered Low
02. Net Collection Rate The percentage of collectible revenue that is collected High
03. Claim Denial Rate The percentage of claims denied by payers compared to total claims submitted Low
04. First Pass Resolution Rate The percentage of claims that are paid upon the first submission without denial High
05. Revenue Per FTE (Full-Time Equivalent) The revenue generated per full-time staff member involved in billing and collections High
06. Patient Payment Collection Rate The percentage of patient balances collected compared to the total patient bills High
07. Cost to Collect The total costs associated with collecting payments divided by the total amount collected High
08. Average Days to Bill The average time taken to submit a bill after service delivery Low
09. Write-Off Rate The percentage of revenue that is written off as uncollectible compared to total revenue Low
10. Patient Satisfaction Score Patient satisfaction with the billing process, often collected through surveys High

This is one of very few vendor relationships I have experienced in my 35 years as an HIM where I truly feel like we are partners with the same goal in mind-quality health information.

Cindy Penner

The Ottawa Hospital

I have had experience with other offshore coding services, and the quality from the Pena4 coders is excellent.

Craig Chase

Catholic Health Services

Very responsive team, expert knowledge, and easy to work with.

John Samuels

Better Health Advisors

Always on point with Turn Around Time requirements.

Lordy Josama

One Brooklyn Health System

Great long-term relationship, able and willing to meet our needs. Great customer service, great support, great outcomes!

Ray Cosner

Mt. Sinai Health System

It has been such a pleasure to work with Pena4 and their team. They have highly educated coders and I do not need to be involved in their internal processes, they know how to get the job done and with great quality.

Bonnie DiAntonio

RWJ Barnabas South

Pena4 continues to deliver high-quality services to our Team. We look forward to maintaining our strong partnership with the Pena4 Team.

Jade Johnson

Mount Sinai Hospital MSH/MSQ

Thank the management team, Arnab, Navin, Caroline, and the entire support team for their continued support and dedication to BronxCare Health Systems.

Valerie Oselmo

BronxCare Health System

Pena4 staff was helpful and accommodating to our professor and students' needs.

Dasantila Sherifi

Rutgers University

Implementation is a 2-way street and Pena4 keeps up its end. They provide great service with involved and attentive operations leaders.

Craig Chase

Catholic Health Services

Love the Team! Deb, Bernie, and Shelley are extremely knowledgeable, friendly, and especially pleasant to work with!

Sonia Shiels

Joseph Brant Hospital

We hired HIMonCall to assist with coding to meet our mandated fiscal year deadlines. We were able to meet this deadline successfully with the help of these contract coders and the work was delivered on time, as promised.

Monique Rasmussen

Providence Health Care