Ask the Experts: Collection KPIs

Can you share collection rate benchmarks for third-party extended business offices ([collections – fees]/placements)? I have seen these benchmarks for bad debt collections but not for extended business office collections.

Collection/Outsourcing Vendor KPIs

Answer: The information in this chart may be helpful.

This question was answered by: David Hammer, principal, Healthcare Performance Management Consultants, and a member of HFMA’s Florida Chapter.

The information provided through the Forum’s Ask the Expert service does not constitute legal advice, even when the advice is provided by lawyers. You need to obtain your own legal counsel for legal advice, and consider the laws and regulations that govern your state. The content and opinions expressed are those of the Forum experts, and not that of their employers or of HFMA. HFMA does not endorse the material or warrant or guarantee its accuracy. The responses are based only on the specific facts or circumstances provided. Forum experts cannot be held liable for outcomes related to any information provided.

Pose another question to the Forum experts.