Understanding the Insurance Analysis Dashboard

The Insurance Analysis dashboard in Practice by Numbers helps dental offices gain insights into their production and collections across various insurance providers. It allows users to track key performance indicators (KPIs) related to their Usual, Customary, and Reasonable (UCR) fees and how these translate into actual production and collections.

Overview of the Insurance Analysis Dashboard

The dashboard displays a breakdown of metrics for different insurance providers over a selected date range. It includes KPIs like UCR Production, Adjusted Production, collections, and other related measures, providing a detailed view of how the practice performs relative to its UCR fees. The data is presented in a summarized section at the top and a detailed table below, making it easy to compare performance across different insurers.

Key Metrics Displayed:

• UCR Production: This represents the estimated production total if all services were billed at the office's standard UCR fees. It provides an estimate of potential revenue, assuming no discounts or insurance adjustments are applied. It helps practices understand the total value of their services based on their standard pricing.

• Adj Production: Adjusted Production represents the actual production after applying any adjustments or insurance reductions. This reflects the production figures after accounting for negotiated insurance rates or other reductions.

• Adj Production % of UCR: This percentage indicates how much of the UCR Production is actually realized as Adjusted Production. A lower percentage suggests significant adjustments or discounts from the standard UCR rates, while a higher percentage indicates that most of the standard fees are being captured.

• Collections % of UCR: This metric shows the percentage of UCR Production that has been collected. It helps assess how well the practice is converting its UCR fees into actual revenue through collections from insurance and patients.

Detailed Insurance Breakdown

Below the summary metrics, the dashboard presents a detailed table with performance data for each insurance provider. The table includes:

• Insurance Provider: Names of insurance carriers.
• UCR Production: The UCR production total for services rendered.
• Adj Production: Adjusted production after accounting for insurance adjustments.
• % of UCR: The percentage of the UCR production that remains after adjustments.
• Collections / Adj Prod: The collection total as a percentage of the adjusted production.
• Gross Production: The total production before any adjustments or reductions.
• Adjustments: Any reductions applied to the gross production due to insurance agreements.
• Net Production: The resulting production figure after adjustments.

This breakdown helps practices understand how different insurance providers contribute to their overall revenue and allows them to identify potential areas for improvement in negotiations or collections efforts.

Example Calculation of UCR Production:

To understand how UCR Production is calculated, let's use a simple example:

• Service A: UCR Fee = $100, Number of times provided = 20
• Service B: UCR Fee = $150, Number of times provided = 10

Total UCR Production = (20 x $100) + (10 x $150) = $2000 + $1500 = $3500

This total represents what the practice could potentially earn if every service were billed at the standard UCR fees without any discounts or adjustments.