The Analytics Dashboard provides a summary of financial performance for providers. The screen provides the ability to filter by practice(s), time frame and compare to period. This allows you to look at a single practice, all practices for a given partner, or the PatientPay enterprise. This screen is broken into four sections: Financials, Payments, Payment Plans, Communications, and Network.
 

Financials

The Financials section outlines the Total Bill Value (TBV), Total Paid Value (TPV) and Conversion Rate for the selected organizations and time frame. The values for the comparison period are shown below the main values, indicating how much it has increased or decreased. Under TBV, we display the total number of bills created and their total dollar value. Under TPV, we display the total bills paid and the average bill value. Under Conversion, we display the average days to pay.

Figure 105 - Analytics Financials

Total Bill Value

Total Bill Value (TBV) represents the sum of all bills in status DUE or SUSPENDED that were created in the selected time frame for the selected practices.

Total Bills

Total Bills represents the count of bills in status DUE or SUSPENDED that were created in the selected time frame for the selected practices.

Average Bill Value

Average Bill Value represents the average amount due for bills created in the selected time frame for the selected practices. This is Total Bill Value / Total Bills.

Total Paid Value

Total Paid Value (TPV) represents the sum of all successful payments made within the selected time frame for the selected practices. This includes:

• Admin bill payments
• Patient Portal bill payments
• Payment plan installments
• IVR bill payments
• Lockbox payments (if TPV_INCLUDE_LOCKBOX is enabled in configuration)
• NOW payments (Patient/Insurance/Other)
• Voids
• Refunds

NOTE: Voids and Refunds are negative transactions.

Forecasted Total Paid Value

Forecasted Total Paid Value represents the estimated TPV based on performance thus far. This is based on the assumption that the average daily TPV will be maintained for the remainder of the selected period. It is intended to give partners and organizations a forecast of expected TPV.

Total Paid Bills

Total Paid Bills represents the count of bill payment transactions that were made within the selected time frame for the selected practices. This includes:

• Admin bill payments
• Patient Portal bill payments
• Payment plan installments
• IVR bill payments
• Lockbox payments (if TPV_INCLUDE_LOCKBOX is enabled in configuration)
• NOW payments (Patient/Insurance/Other)

Average Paid Bill Value

Average Paid Bill Value represents the average payment made in the selected time frame for the selected practices. This is Total Paid Value / Total Paid Bills.

Conversion

The Conversion rate is Total Paid Bills / Total Bill Value and is represented as a percentage (multiplied by 100). This measures the aggregate efficacy of PatientPay on a volume of bills.

Average Days to Pay

Average Days to Pay represents the average number of days that pass between the first transaction and the bill’s created date.

Payments

The Payments section provides important trends on payments.

Figure 106 - Analytics Payment Trends

The Payment Trends line graph shows the revenue by payment type for the selected practice(s) and time frame. The y-axis represents dollar amounts and the x-axis represents the timeline. The Payment Types drop-down list allows you to choose which payment types to include in the graph. If you click on any payment type in the legend, it will also toggle the view of that type on/off. By default, all payment types are displayed. This is helpful for comparing a smaller subset of payments. If you hover your mouse over any interval, it will display the exact dollar amount.
 

Payment Plans

The Payment Plans section provides three different cards that show the following:

• Pie chart depicting the total number of plans by status (Active, Cancelled and Completed) for the selected organizations and time frame; if you hover over each pie slice, it will reveal a summary of percentage, total number of plans, and total dollar amount for this status:

• Summary of plan KPIs for the selected organization and time frame including abandonment rate, average number of installments, and average installment amount
  NOTE: The Abandonment Rate includes plans that were cancelled by an admin or reached three failed payment attempts and cancelled automatically.
• Bar chart depicting the expected AR from plans by month for the selected organizations; the default is 12 months, and you can extend to 24 months
   

Figure 107 - Analytics Payment Plans

Communications

The Communications section provides three different cards that show the following stats for Email, SMS and Print:

• Conversion Rate
• Click-Through-Rate (CTR)
• Total Sent

Figure 108 - Analytics Communications

This data highlights the performance of each form of Dunning communication around bills. Note that these payments exclude Admin Bill payments or NOW payments which do not originate from Dunning communication. However, these payments are included in the Total Paid Value (TPV) in the Financials section. IVR payments are included.

Totals Sent/Printed

The totals sent for the selected practice(s) and time frame represent the emails, text and paper statements sent due to Dunning configuration (Initial Bill, Bill Reminder, Past Due Reminder). This includes resends from Admin. They exclude communication related to payment plans (e.g., reminders, balance increase/decrease, payment method updates, installment failures, plan cancellation) and future/scheduled payment setup.

Click-Through Rate (CTR)

The click-through rate (CTR) for the selected practice(s) and time frame measures the ratio of emails, texts and paper statements that result in the patient opening the message, compared to how many are sent. We track when a patient opens an email, text or paper statement by recording an event. For example, when the patient uses the Bill Code Login, we know they are clicking through via the code given in a paper statement.

Conversion Rate

The conversion rate for the selected practice(s) and time frame represents the percentage of emails, texts and paper statements that resulted in a bill payment, compared to how many were sent. We attribute the payment to one of the forms of communication based on the last click event by the patient. For example, if the patient clicked through a bill reminder email prior to paying the bill, we attribute the conversion to the email. If they used the Bill Code Login prior to paying the bill, we attribute the conversion to the paper statement. This counts payment plan setup in the conversion rate but not each subsequent installment. It includes IVR payments.

Network

The Network section provides a summary of the total active cards on file for the PatientPay enterprise. It is only shown to users with PatientPay System Administrator role. It is useful for determining the size of our network of patients and the demographic breakdown of count by state. The bar chart is sorted largest the smallest and each state provides a tooltip with the count. States with zero cards on file are not shown.

Figure 109 - Analytics Network