Measuring Success
How do you define success?
Do you know how your current conversion results are measured?
- Are you measuring from Gross referrals?
- Or from Net referrals?
- Or from Net of Net? (This reflects only what is actually completed and sent to DSS and approved.)
Do you know what is realistic or attainable for your facility?
- Is your facility in an urban or suburban area?
- Do you have a preponderance of maternity and/or pediatric care?
- Does your state require retroactive certification?
- Does your state require disability for Medicaid?
You should be measuring:
- Gross conversion percentage
- Net conversion percentage
- Speed to conversion (The percentage recovered in 90 days or less from referral.)
- Percentage of patients screened prior to discharge
How do you measure success?
There is only one objective methodology for measuring dollars returned to the bottom line:
Gross Conversion Percentage - Calculated counting every self-pay referral. Refer via electronic download and save the daily data in monthly totals.
Net Conversion Percentage - Should be gross number of referrals minus only
- Returned, patient has insurance
- Returned, not qualified, ineligible due to income or assets
YOU CANNOT OBJECTIVELY MEASURE SUCCESS USING NET OF NET.
It is worse than a meaningless measurement because you are losing revenue but are unaware of it.
