The TMA Financial Trend Tracker is a free online tool to help association members and their staff track monthly and yearly net collection ratios, accounts receivable percentages, and new and established patient visits. The tool presents a practice's key performance indicators via easy-to-read graphs and charts.
The Financial Trend Tracker allows users to:
- Identify potential problems,
- Use the information to make decisions that benefit the practice, and
- Set goals.
Before logging on to the Financial Trend Tracker, gather your month-end practice management reports. Visit the site, and enter the data requested into the My Practice Data entry form. The program will generate information on accounts receivable, collection ratios, and productivity, allowing you to monitor your data monthly and to make annual comparisons. Users can only view data
associated with their practice.
Looking for more on medical practice financial management?
TMA's latest publication also focuses on the business side of medicine. Business Basics for Physicians guides physicians in setting the vision, direction, and policies that help ensure practice viability and helps them gain a basic understanding of financial management and other business topics.
To purchase the book, visit the TMA website.
Action, July 15, 2014