Practice IQ - Revenue

Overview

The Revenue Dashboard within Practice IQ provides a comprehensive view of your collections performance. Users can track revenue by day, apply filters such as procedure code, payer, and facility, and compare performance across reporting periods—all within a single interface. Filters applied will update all visualizations on the page, allowing for a more tailored and detailed analysis.

By default, the dashboard displays data for the current month and is based on posting date (i.e., the date a payment is posted, not the charge date of service). Data is refreshed once daily, as a result, current-month figures will continue to change as additional payments are posted and processed.

Once a reporting period has fully closed and all transactions have been settled, prior month data is considered final and should not change. This ensures consistency and reliability when reviewing historical performance.

FAQ

When is monthly revenue considered final?

Monthly collections are finalized by the 10th of the following month. Until that date, figures for the prior month may still be subject to minor changes. For reporting or decision-making purposes, we recommend waiting until after the 10th to treat a prior month as closed.

How do I know the revenue data is accurate?

Claimocity maintains multiple layers of checks and balances throughout the billing and collections process to ensure the data you see is reliable. Our team actively works to keep your revenue information as accurate as possible. While daily fluctuations are expected, you can be confident that the figures in your dashboard reflect a carefully managed and consistently reviewed data set. Additionally, Claimocity conducts a standard audit during month-end closing.

Who do I contact if I have questions or concerns regarding my revenue data?

If you have any questions or concerns regarding your revenue data, please reach out to your Account Manager or Customer Success Manager. Depending on your account, you may have one or both of these contacts available, and they will be able to assist you or direct your inquiry to the appropriate resource.

Why does my revenue appear low?

Revenue fluctuations are a normal part of the revenue cycle and can vary based on timing and external factors. Periods where revenue may appear lower can include the beginning of the year due to deductible holds, as well as during holiday seasons when patient volumes and billing activity may decrease. If you have specific concerns about your revenue performance, your Account Manager or Customer Success Manager can help review your data in more detail and provide insights tailored to your account.

What would cause a prior month’s revenue amount to differ from other reporting?

Prior month revenue amounts should remain consistent once the reporting period has closed. If you notice a discrepancy, it is typically indicative of a data synchronization or reporting issue that requires further review. Our team performs regular monthly audits to identify and resolve any inconsistencies, so this type of variance should be rare. However, if it does occur, we recommend escalating the issue to your Account Manager or Customer Success Manager. They will coordinate with the appropriate teams to investigate the root cause and implement a correction. We also have processes in place to resolve these discrepancies quickly to ensure your reporting remains accurate and reliable.

 What does a negative revenue value mean?

A negative value typically indicates that adjustments, refunds, or take backs posted on that day exceeded the payments received. This can happen when a payer recoupment, overpayment correction, or credit balance refund is processed. It does not necessarily indicate a problem, it is part of normal billing activity.

What is the difference between "Practice" and "Provider" view?

The toggle in the top-right corner lets you switch between two perspectives. Practice view shows revenue rolled up across your entire group. Provider view breaks revenue down by individual provider. Please Note: Practice view is only viewable for users with advanced user settings.

How do I change the date range I'm looking at?

By selecting the ‘Current Month’ icon/field, you can switch to other preset periods (current week, current year, las month, etc.) or select ‘Custom’ where the calendar will appear to select a custom date range. The chart, summary cards, and detail table will all update to reflect whichever period you choose.

What do the filters do?

The filters (Code group, Code, Payor, Payment type, and Facility) let you drill into a specific slice of your revenue. For example, you can filter to a single insurance payor to see only what they've paid, or filter by facility if your group operates across multiple locations.

 What are the two summary cards on the right side?

The top card shows your Total Revenue for the selected period alongside the total from the previous comparable period (e.g., this month vs. last month). The bottom card shows your Average Revenue per Day for the selected period with the same prior-period comparison. These cards give you a quick read on whether you're trending up or down.