Is Your Medical Billing Everything It Could Be?
Are you losing revenue because of outdated consultancy or inefficient processes? Use these best practices to compare your practice metrics against industry standards and Growious benchmarks. If you’re falling short, it’s time for a change.
Benchmark Your Practice
Compare Your Practice to Industry Standards
Medical billing performance isn’t subjective. Real metrics tell you whether your practice is operating optimally or leaving money on the table. Below is how Growious standards compare to industry averages across critical metrics.
Claim Scrubbing
Industry Practice: 100%
Growious Standard: 100%
What This Means: Clean claims reduce rejections and speed up payment. Growious scrubs every claim to match payer requirements before submission, eliminating preventable denials.
EOBS Review
Industry Practice: Review 100%
Growious Standard: Review 100%
What This Means: Every EOB must be reviewed to catch underpayments and missing payments. Growious reviews all EOBs to identify payment discrepancies and ensure nothing is missed.
Days from TOS to Billing
Industry Practice: Less than 3 days
Growious Standard: Less than 1 day
What This Means: The faster you bill, the faster you get paid. Growious submits claims within 24 hours of service, keeping your cash flow moving consistently.
Average Days in A/R
Industry Practice: Less than 90 days
Growious Standard: Less than 60 days
What This Means: High A/R days mean money is stuck in your system. Growious maintains an aggressive A/R cycle through proactive follow-ups and denial management.
Average Days in A/R Over 120 Days
Industry Practice: Less than 15-25%
Growious Standard: Less than 5-10%
What This Means: Claims over 120 days are at risk of being written off. Growious keeps this percentage low through consistent follow-up and resolution strategies.
Eligibility Verification
Industry Practice: 80%
Growious Standard: 100%
What This Means: Eligibility verification prevents claim rejections and surprises at the patient level. Growious verifies eligibility on every patient before service to eliminate downstream problems.
Claims Paid in Less Than 45 Days
Industry Practice: 85-90%
Growious Standard: 90-95%
What This Means: Fast claim payment directly improves cash flow. Growious targets a 90-95% payment rate within 45 days through optimized claims management.
Net Collection Rate
Industry Practice: Greater than 92%
Growious Standard: 98%
What This Means: Your collection rate shows the real revenue you’re capturing versus what you billed. Growious targets a 98% net collection rate through optimized processes and aggressive follow-up.
Denial Rate
Industry Practice: Less than 3-5%
Growious Standard: Less than 3-4%
What This Means: High denial rates indicate system problems. Growious keeps denial rates low through clean claim submission and root-cause analysis on every rejection.
Time of Service Collections
Industry Practice: 90%
Growious Standard: 90%
What This Means: Collecting at the time of service reduces patient follow-up burden. Growious manages front-end collections to meet or exceed the 90% standard.
Hear From Our Clients
We let the work speak for itself. Here is what businesses across healthcare, IT, and digital growth have to say about partnering with Growious Solutions.
