The Collection Timing Analysis charts in Practice IQ are powerful tools for understanding how and when revenue is collected in relation to production. This guide explains how to read these charts, how to access them, the differences between views, and why this analysis is critical for optimizing your collections process.
How to Access the Collection Timing Analysis Charts
To find these charts in Practice by Numbers:
Navigate to the Practice IQ page.
Click Advanced in the left-hand menu.
Select the Collections Detail dashboard.
You’ll find both the Total Collections % and Monthly Collections % views under the Payment Time Analysis section.
What Is Collection Timing Analysis?
Collection Timing Analysis visualizes how much of your practice's production is collected over time. It is broken into two distinct views:
Total Collections % (Cumulative View)
Monthly Collections % (Incremental View)
Each view provides insights into payment behavior across different timeframes, helping you evaluate your collection efficiency and identify slowdowns or gaps.
Total Collections % View (Cumulative)
Purpose
Shows the cumulative percentage of collections received from each production month over time (M0, M1, M2, etc.).
How to Read It
Rows represent the production month (e.g., September 2024).
Columns (M0, M1, M2...) represent how many months have passed since production.
M0 = Month of production
M1 = One month after
M2 = Two months after, etc.
Cell values display the cumulative % collected by that month.
Tooltip on Hover Includes
Production Month
Collection Month (e.g., M3)
Dollar amount collected that month
Total collected to date
Total production amount
Cumulative collection rate
Collection rate in that specific month
Example
Production Month: September 2024
Month 3: $995.27
Total Collected: $115,650.25
Total Production: $126,528.76
Cumulative Collection Rate: 91.4%
Month 3 Collection Rate: +0.8%
Use Cases
Track how quickly revenue is collected.
See if collections are mostly completed within 1–3 months.
Identify which months have lagging or late collections.
Monthly Collections % View (Incremental)
Purpose
Displays the percentage collected in each individual month following the production month. This isolates when money is actually received.
How to Read It
Rows = Production Month
Columns (M0, M1, etc.) = Months after production
Cell values = % collected in that specific month
Tooltip on Hover Includes
Production Month
Month # (e.g., M2)
Dollar amount collected that month
Cumulative collected amount
Total production amount
Cumulative % collected
Month-specific collection %
Example
Production Month: September 2024
Month 2: $2,863.26
Total Collected: $114,654.98
Total Production: $126,528.76
Cumulative Collection Rate: 90.6%
Month 2 Collection Rate: +2.3%
Use Cases
Spot trends in how quickly different types of payments (insurance, patient, payment plans) come in.
Analyze if specific months consistently show delayed collections.
Drill down into problematic months for collection follow-up.
Why This Analysis Is Beneficial for Your Practice
1. Improved Cash Flow Forecasting
Knowing when the bulk of collections typically comes in helps you plan payroll, expenses, and growth investments.
2. Insurance & Patient Payment Monitoring
If most insurance pays by M1, but some claims are pushed to M3 or M4, that signals possible issues needing attention.
3. Follow-Up Prioritization
Late collection spikes (M5+) could mean failed first attempts or missed follow-ups. Use this data to prioritize outreach.
4. Benchmarking Collection Efficiency
Practices should aim to collect 90%+ of production within the first 2–3 months. These charts let you monitor your standing.
5. Transparency Across Teams
Share these visuals in team meetings to drive awareness and accountability among front office, billing, and management.
Best Practices
Month | Ideal Collection Target |
M0 | 30%–40% (same-month collections) |
M1 | 75%–85% cumulative total |
M2 | 85%–90% cumulative total |
M3+ | Smaller gains, ideally finalized by M6 |
If you’re seeing significant collection activity after M3, investigate billing delays, claim denials, or patient non-payment patterns.
Summary
Understanding the Collection Timing Analysis charts in PbN is critical to mastering your collections strategy. By interpreting both cumulative and incremental views, you gain visibility into your payment cycles and unlock opportunities to improve revenue capture. Use this tool monthly to evaluate your progress and make informed decisions for smoother cash flow and stronger financial performance.