Days to Bill (DTB)

Days to Bill (DTB) is a healthcare revenue cycle management metric that measures the number of days it takes for a healthcare provider to submit a claim to a payer after a patient's visit or service. This metric is important because the longer it takes to bill a claim, the longer it takes for the provider to receive payment, which can negatively impact cash flow and revenue. DTB is calculated by taking the date of service and subtracting the date the claim was submitted to the payer. For example, if a patient was seen on January 1st and the claim was submitted on January 15th, the DTB would be 14 days. A high DTB can indicate inefficiencies in the revenue cycle process, such as delays in coding or billing, or a lack of resources to manage the process. Providers can improve their DTB by implementing processes to streamline billing and coding, such as using electronic health records and automating claims submission. Overall, DTB is an important metric for healthcare providers to monitor as it can impact their financial performance and ability to provide quality care to patients.

Days to Bill (DTB) is calculated by measuring the number of days it takes for a healthcare provider to submit a claim to a payer after a patient's visit or service. To calculate DTB, the provider must first determine the date of service and the date the claim was submitted. The difference between these two dates is the number of days it took to bill the claim. For example, if a patient received services on January 1st and the claim was submitted on January 15th, the DTB would be 14 days. It is important to note that DTB can vary depending on the type of service provided, the payer, and the provider's internal billing processes. DTB is a critical metric in healthcare revenue cycle management as it directly impacts cash flow. A longer DTB can result in delayed payments and increased accounts receivable, which can negatively impact a provider's financial health. By monitoring and improving DTB, providers can streamline their billing processes and improve their revenue cycle performance.

Best practices to improve Days to Bill (DTB) are:

1. Streamline the registration process: Ensure that the registration process is efficient and accurate. Collect all necessary information from patients during the registration process to avoid delays in billing.

2. Verify insurance eligibility: Verify insurance eligibility before providing services to patients. This will help to avoid billing errors and reduce the time it takes to bill.

3. Implement electronic health records (EHRs): Implementing EHRs can help to reduce the time it takes to bill. EHRs can automate the billing process, reducing the need for manual data entry and minimizing errors.

4. Improve coding accuracy: Accurate coding is essential for timely billing. Ensure that coders are properly trained and that coding guidelines are followed.

5. Monitor claims: Monitor claims to ensure that they are processed in a timely manner. Follow up on any claims that are delayed or denied.

6. Use technology: Use technology to automate the billing process. This can include electronic billing, automated claim submission, and electronic payment processing.

7. Train staff: Train staff on best practices for billing and coding. Ensure that staff are aware of the importance of timely billing and the impact it has on revenue. By implementing these best practices, healthcare organizations can improve their Days to Bill (DTB) and increase revenue.

The industry standard benchmark for DTB is typically around 3-5 days. A low DTB indicates that a healthcare provider is submitting claims in a timely manner, which can lead to faster reimbursement and improved cash flow. On the other hand, a high DTB can indicate inefficiencies in the revenue cycle process, such as delays in coding or billing. To calculate DTB, healthcare providers typically start by tracking the date of service for each patient visit. They then measure the number of days it takes to submit a claim to the payer after the date of service. This can be done manually or through the use of revenue cycle management software. Overall, DTB is an important metric for healthcare providers to monitor as it can impact their financial performance and ability to provide quality care to patients. By benchmarking their DTB against industry standards and identifying areas for improvement, healthcare providers can optimize their revenue cycle processes and improve their bottom line.

Revenue cycle software can greatly improve the Days to Bill (DTB) metric by streamlining the billing process and reducing the amount of time it takes to submit claims. With the help of automation and advanced analytics, revenue cycle software can identify and address any bottlenecks in the billing process, such as coding errors or missing information, which can cause delays in submitting claims. By using revenue cycle software, healthcare organizations can also improve their billing accuracy and reduce the number of rejected claims, which can further reduce the DTB metric. Additionally, revenue cycle software can help healthcare organizations track their billing performance and identify areas for improvement, allowing them to continuously optimize their billing process and reduce the DTB metric even further. If you're interested in seeing firsthand how revenue cycle software can improve your organization's DTB metric, I highly recommend booking a demo with MD Clarity. Their revenue cycle software is designed to streamline the billing process and improve billing accuracy, helping healthcare organizations reduce their DTB metric and improve their overall revenue cycle performance. Don't hesitate to book a demo today and see how MD Clarity can help your organization achieve its revenue cycle goals.