Harnessing the Power of PEDS DASH to Manage Your Practice's Financial Health Proactively

Data Visualization to Action and The Power of Solving Problems Together

In the dynamic world of medical practice, maintaining financial health is more than just about managing revenue and expenses. It also involves proactively identifying and addressing potential issues before they become a financial burden. This is where the power of PEDS DASH comes into play.

For those unfamiliar, PEDS DASH is a robust practice management tool designed to provide a comprehensive view of your practice's financial health. It tracks crucial indicators such as billing and collections, claims management, and patient volume. But one of its most powerful features is its ability to detect changes in these indicators before they become financial problems.

Let's consider a scenario. Imagine your clearing house fails to send out claims, resulting in delayed or non-receipt of payments. The practice owner would have to download the Account Receivable Spreadsheets weekly and compare them to the last weeks. One of our practice members saw their A.R. jump by 100% in one week because the clearinghouse mistakenly deleted their account.

This issue might go unnoticed in a typical setup until it has already caused significant financial damage. That is, the bank has no money to pay employees or expenses. But with PEDS DASH, you can proactively identify such problems.

PEDS DASH continuously monitors the status of claims payments. If there's a sudden drop or increase in any of these parameters, it triggers an alert.

Moreover, PEDS DASH provides a comprehensive view of your practice's financial status. It allows you to track and compare data over time, helping you identify trends and patterns. This feature is handy when it comes to managing payments. By tracking expenses over time, you can identify any discrepancies or irregularities that might indicate a problem.

Remember, in medical practice, being proactive is the key to success. PEDS DASH empowers you to do just that. But we don’t stop there. P.E.D.S. takes a hands-on approach to problem-solving, addressing real-time situations within our organizations. More than a theoretical course, it is a practical platform that accelerates learning for the leaders of each practice.

Stay tuned for more insights on managing your practice's financial health.