AR (Accounts Receivable) Aging Metric:
Watch this short video:
Found on the Collections Board, this metric will include the AR Aging Report as well as a Patient Credit Balances report in the Magnifying Glass icon. View the AR Aging trend by clicking on the Graph icon and view additional information by selecting the Information ( i ) icon.
Note: This Metric does NOT update with the date range that is selected at the top of the Collections Board. This chart and source data will not show historical data as it is only reflecting patients that currently have an A/R balance to identify how long it has existed. This helps to better identify which patients need to be contacted and where to focus time on outbound calls or patient outreach.
What is this?
A periodic report that categorizes your accounts receivable according to the length of time the patient's balance has been outstanding. Accounts receivable aging is a critical management tool as well as an analytic tool that helps determine the financial health of your patients, and therefore the health of your practice.
Accounts Receivable is the amount of money owed to your practice by patients who have a balance owed.
Past Due shows money that is owed to the practice for more than 30 days.
Patients Past Due shows the number of patients that have account balances older than 30 days.
Est. Patient takes the patients ledger balance less any estimated insurance claims outstanding.
Est. Insurance is the amount of outstanding insurance claims
The AR Aging Report is a report that can be exported to excel with a list of all patients' account balances and their aging.
Credit Balance Report is a report that can be exported to excel with a list of all patients who currently have a credit balance on their ledger.
Why is this Important?
If an accounts receivable aging demonstrates that your receivables are being collected much slower than normal, this is a warning sign that business may be slowing down or that you are taking greater credit risk with your patients. As a management tool, accounts receivable aging may indicate that certain patients are not good credit risks. It can therefore help you make prudent decisions about whether or not to keep doing business with patients that are chronically late payers.
💥Important Note for Dentrix Users💥:
Why is my AR Aging not loading properly? (Dentrix)
Dental Intelligence Analytics pulls data directly from this metric on the Account Ledger inside of Dentrix:
If data is not populating in this area, please reach out to Dentrix Support for assistance. Once Dentrix is able to correct this, the AR Aging data will pull through after the next nightly sync with Analytics.