Hospitals can now discover how their e-billing performance measures up to that of other providers thanks to a new innovation from Healthcode, the UK’s official clearing organisation for private medical bills.
The Performance Dashboard reveals valuable information about an individual hospital’s electronic billing in the following three categories: the percentage of invoices sent electronically; the percentage that pass validation first time; and the average number of days to submit an e-bill.
Users can view two charts for each category which show their organisation’s performance over the previous 30 days and 90 days. The colour of each chart (red, amber or green) indicates whether the organisation is doing well (green) or if the result is a potential cause for concern (red).
As part of the service, Healthcode are also providing each hospital with the industry averages for each performance indicator and their industry rank1. The data enables organisations to properly evaluate the efficiency of their own billing operation and pinpoint areas for improvement which can then be fed back to staff. While the data relates to individual hospitals, Healthcode plans to extend this to hospital groups in future.
Healthcode Managing Director, Peter Connor said: “We currently process circa. 3million electronic bills each year for UK private hospitals which makes us the only organisation with the capacity to provide this important service. We wanted to provide useful performance metrics for hospitals which helps their business maximise cashflow and we hope the element of healthy competition which comes from seeing their industry rank will inspire them to increase their billing productivity and accuracy to benefit the whole private health sector.”