The Revenue and Charge Revenue Reports display the total revenue generated by your practice in a particular timeframe. The difference between the two reports is that the Revenue Report displays revenue on an encounter level and the Charge Revenue Report displays the revenue on a line item/procedure code level. The total revenue for insurance and patient total paid amount will always be equal for both reports. Additional data will differ.
Running the reports
Click Report.
Select All.
Click Revenue Report.
Choose either the Revenue or Charge Revenue Report from the Report Type drop-down menu.
Once the report type is selected, the search criteria will be displayed on the screen.
Select the Payment Options, which include the following:
- Insurance Payment
- Patient Payment
- Payment by both insurance and patient
Select the Date Type from the following options:
- Payment Date (the date the payment was issued)
- Posted Date (the date the payment was posted to a charge)
Select the Patient Fund Date Type from the following options:
- Created Date (the date the patient fund was created)
- Payment Date (the date the payment was issued)
The report name will automatically populate as the type of report being generated along with the date and time at which the report was generated.
You can customize the report name by typing directly in the Report Name field.
Select the Report Period from the dropdown menu or enter custom dates in the Date From and Date To fields.
Click Run Report.
The report will be added to the Report Queue. The initial status of the report will show as Pending until it changes to Complete. Alternatively, you can click the Refresh button which reloads the table containing all the reports to fetch the most up-to-date report status.
Click View Report.
The reports can be deleted at any time by clicking the Trash icon.
Understanding the Revenue Report
The Revenue Report indicates the total revenue generated by your practice in a specific timeframe by encounter level. Analyzing revenue based on created encounters is crucial for companies as it provides insights into the profitability of different procedures or services. This analysis helps identify areas that may need adjustments or improvements.
The payment balance will be displayed at the top of the report for payments that have not yet been assigned to line items. Click the Chevron to view the additional information.
Click the Checkbox, to Include Unposted Payments.
The total amount for Charge Amount, Payment Amount, Posted Amount, Adjustment Amount, and Write-off Amount are displayed at the bottom of each column. These total amounts will remain the same for both reports when Payment by both insurance and patient is selected for the Payment Options along with the same date range.
The report can be customized by adding, removing, and re-ordering Columns, applying Filters, Grouping, and creating Favorites.
To sort a column, click on it's heading. The first click will sort the column in ascending order, the second click will sort the column in descending order.
You can select Reset Grid to restore the original settings at any point.
The report can be exported as a CSV or PDF file.
Understanding the Charge Revenue Report
The Charge Revenue Report indicates the total revenue generated by your practice in a specific timeframe by line item or procedure code. Analyzing revenue by line item or procedure codes is important for companies as it allows you to see which procedures or services are most profitable and which may require adjustment or improvements.
The payment balance will be displayed at the top of the report for payments that have not yet been assigned to line items. Click the Chevron to view the additional information.
Click the Checkbox, to Include Unposted Payments.
The total amount for Charge Amount, Payment Amount, Posted Amount, Adjustment Amount, and Write-off Amount are displayed at the bottom of each column. These total amounts will remain the same for both reports when Payment by both insurance and patient is selected for the Payment Options along with the same date range.
The report can be customized by adding, removing, and re-ordering Columns, applying Filters, Grouping, and creating Favorites.
To sort a column, click on it's heading. The first click will sort the column in ascending order, the second click will sort the column in descending order.
You can select Reset Grid to restore the original settings at any point.
The report can be exported as a CSV or PDF file.
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