The waterfall collection chart is available when your organization has purchased the Forecast tier of Revenue Diagnostics. It allows you to see how your claims pay over time and answer questions like...
What's my total allowed amount for a given date of service range, and how does that total break down by collection day, week, quarter, month, or year?
How much (both in dollars and as a percentage) of my total allowed amount was paid in the same month as the date of service, one month later, two months later, etc.?
For a given collection month, what dates of service are contributing to those collections?
What does my 30, 60, 90 day A/R look like?
Adding a collections waterfall chart
To add a waterfall collection chart, go to the Reports page, then click Create new in the upper left, and select Collections waterfall
Select the metric you'd like to measure
Currently, Allowed amount is the only metric available in our waterfall collection charts. More metrics will be available in the near future as we roll them out.
Configure your table rows and columns to visualize the data
Designate which data type you want to use for table rows or columns, as well as the time type and frequency for your columns to answer different types of questions.
Time increments available for both rows and columns are days, weeks, months, quarters, and years.
You can also configure the time type in your table columns to the following:
Relative: will display column names and values relative to the table row date selected (e.g. will show columns as the "same month as the date of service" or "one month prior")
Calendar month: will show columns as calendar months associated with the date type selected (e.g. date of service or date of payment)
A/R days: will bucket your columns into groups of AR days (e.g. 0-30 days, 31-60 days, etc.)
Rows: date of service; Columns: date of payment
Setting your rows as date of service and columns as date of payment will show how allowed amounts for given date of service periods are collected across subsequent payment months.
Rows: date of payment, Columns: date of service
Setting your rows as date of payment and columns as date of service will show how allowed amounts for given payment dates relate back to when the services were rendered.
Customizable settings
Show or hide percentages in the table
Use the Show percentages toggle in the Chart settings to show or hide collection percentages associated with each cell in the table.
Show or hide a heat map on the table
Check the box next to Display heat map to add a color legend to the table to make it easier to visualize your top collections.
Show or hide the chart itself
Use the Show chart toggle to show the chart alongside the table, or hide the chart so only the table is visible.
