BCBS MI Heads Chiropractic Office Billing Software Precision Index For 2nd Month - BPI Drops 3.5%

Blue Cross Blue Shield Michigan heads Chiropractic Office Billing Software Precision Index (BPI) for the second month straight. Overall, May 2007 BPI dropped 3.5%, bringing the index from 14.6 down to 18.1, below the national average of 17.7%. May BPI replaced three BPI participants on the list of top ten performers. BPI guides chiropractic office managers and helps the development of both chiropractic billing software and billing performance standards.

BPI = 18.1 means that the average of ten top performing payers working with Billing Precision clients have 18.1% of Accounts Receivable beyond 120 days. BPI is a key billing performance characteristic, as it is a proxy of the claims that are never paid. Obviously, the lower is the index the better is billing performance. The table below also lists the top ten performing payers and their relative index as recorded in the Billing Precision's system.

• Billing Precision Index 18.1
• Blue Cross Blue Shield Michigan 3.2 (same)
• GHI 11.5
• Humana 11.8 (down from 7.9 in April)
• Blue Cross Blue Shield Colorado 12.3 (down from 6.8 in April)
• Medicaid Pennsylvania 15.1
• Assurant Health 15.4
• Blue Cross Blue Shield Illinois 16 (down from 11.1 in April)
• United Health Care 22.6 (down from 13.9 in April)
• Medicare New Jersey 20 (down from 16.4 in April)
• Cigna 24.1 (down from 15 in April)

May BPI dropped three participants since April:

• Blue Cross Blue Shield Texas 20
• Great West 22
• Aetna 22.1

No payer improved its index since April.

Six participants lowered their indexes with respect to April BPI:

• Humana 11.8 (down from 7.9 in April)
• Blue Cross Blue Shield Colorado 12.3 (down from 6.8 in April)
• Blue Cross Blue Shield Illinois 16 (down from 11.1 in April)
• United Health Care 22.6 (down from 13.9 in April)
• Medicare New Jersey 20 (down from 16.4 in April)
• Cigna 24.1 (down from 15 in April)

May BPI added three new participants since April:

• GHI 11.5
• Medicaid Pennsylvania 15.1
• Assurant Health 15.4

Coverage

BPI is rule-based, i.e., payer participation in the index is defined by dynamically rules at the time of computation and not by a static listing of specific payers. Therefore, any specific payer may start or discontinue participation in the index, dependent on satisfaction of rule's conditions.

Current selection of payers for participation in the BPI is based on fifty top-volume providers across all United States that have received Billing Precision services for more than six months and have more than two hundred claims in their current Accounts Receivable.

Update Cycle

BillingPrecision.com updates BPI on a monthly basis.

Volume Weighting

BPI is volume weighted, which is important to accommodate future growth of provided information, index combinations, and sensitivity across multiple indices.

Information Provided

BPI computes the percent of Accounts Receivable beyond 120 days. Note that national average across all medical specialties of percent of accounts receivable beyond 120 days is 17.7%.

Summary

Chiropractic Office Billing Software Performance Index helps the development of both chiropractic office billing software and billing performance standards. Chiropractic office managers can use the index to benchmark their billing performance and guide its improvement over time. Rule-based index definition allows for automated inclusion and exclusion of payers in the index based on payer attributes, such as numbers of processed claims, accounts receivable distribution, certain mix of CPT codes, or patient demographics.

Yuval Lirov, PhD, author of "Practicing Profitability - Network Effect for Revenue Cycle Control in Healthcare Clinic and Chiropractic Office: Scheduling, SOAP Notes, Care Plans, Coding, Billing, Collections, and Audit Risk" (Affinity Billing) and "Mission Critical Systems Management" (Prentice Hall), inventor of patents in Artificial Intelligence and Computer Security, and CEO of Vericle.net - Distributed Billing and Practice Management Technologies. Yuval invites you to register to the next webinar on audit risk at BillingPrecision.com