How Do You Analyze Revenue Cycle Performance?
A revenue cycle performance analysis is an excellent tool for measuring the success of your business production and a good way to identify sources of lost potential. Analyze the revenue cycle periodically to stay a step ahead of your competitors and in touch with your business. Follow a few steps to conduct a useful and cost effective revenue cycle performance analysis. Determine revenue cycle key indicators. Go beyond cash, receivables and A/R days to identify your business’ specific indicators. This will enable you to get a more comprehensive and complete picture of your revenue cycle. Refer to your records and business data. If you have data collected for the purpose of examining revenue cycle performance, then refer to the data to begin to get a picture of the cycle. If you have not assembled data, do your best to piece together data to form a picture of your business revenue cycle and create trends based on past performance. Set appropriate benchmarks. While your business is certa
