Billing IQ
Automatic financials - no spreadsheets required!
Using data visualization, Billing IQ assists you in the process of analyzing your OHIP information to see where and how you are generating your income. You don't have to worry about navigating complex spreadsheets or breaking formulas in Excel.
Save Time - You don’t need to use spreadsheets to analyze your billing information
Earn More - Optimize your financials based on your billing patterns.
INSTRUCTIONS:
Navigate on the web to REPORTS --> BILLING IQ
PAYMENTS:
This feature will allow you to analyze your paid claims over time and revenue sources.
SUBMISSIONS:
This feature will allow you to analyze your submitted claims over time and revenue sources. The following graphs have been developed for you:
Working days: number of unique service dates
Patient billed: number of unique patients billed
Weekend/Holiday billing: $ amount or # of patients billed over weekend/holidays
Weeknight billing:$ amount or # of patients billed at night. We use special visit premiums to determine if you have billed at night.
Ward billing: $ amount or # of inpatients billed. If the admission date = true, the claim is considered a ward patient.
Clinic billing: $ amount or # of clinic patients billed. If the admission date = blank, the claim
is considered a clinic patient
FORECAST:
This feature allows you to estimate your revenue based on the claims being processed by MOHLTC and your historical billing patterns. The deadline for submission is on the 18th of every month for payment next month. Keep in mind the deadline has a few extra days of tolerance. As an example, claims submitted on the 22nd of the month may be paid on the current payment cycle (next calendar month).
How we estimate your revenue:
Current Month: We use data based on your Total Paid claims in your report. This only includes claims submitted through MDBilling.ca and excludes Accounting Transactions.
If the RA (payment report) has not arrived from MOHLTC, we will estimate based on your claims created before the 18th of the previous month.Next Month: We use data based on your claims that are in SUBMITTED and UNSUBMITTED status. The amounts are calculated based on when you run the query and when the claims were created (either before or after the 18th of the current vs. previous month). Claims that are in SAVED or REJECTED status are not included, as those have not been, nor scheduled to be transmitted to MOHLTC.
Future Months (Current month + 2, 3.. N): We use the average revenue of the last 3 years based on calendar months.
For more billing tips, please check out our OHIP Billing Tip Library.
Questions? Check under the HELP tab or send an email to support@mdbilling.ca.