What This Chart Shows

The Service Billed vs. Collected chart provides a month-by-month view of your financial performance, comparing how much revenue your practice billed versus how much was actually collected.

• The billed line represents the total amount submitted to insurance payers and patients for services rendered.

• The collected line represents payments received against those billed amounts within the same period.

By tracking both, you gain visibility into how efficiently your practice converts billed revenue into collected income — a key measure of billing health and financial sustainability.

Why This KPI Matters

This KPI is one of the most critical indicators of a chiropractic practice’s financial strength.
A healthy gap between billed and collected revenue indicates strong billing performance, while a large or persistent gap often reveals underlying issues such as:

• Claim denials or errors in submission

• Slow payer reimbursements

• Weak patient collections or uncollected co-pays

• Inaccurate posting or reconciliation delays

Monitoring this chart helps identify inefficiencies in your revenue cycle, optimize cash flow management, and ensure that the money your practice earns is actually being received.

How to Use This Data

1. Identify Trends and Gaps

Look at the distance between billed and collected lines each month. A widening gap signals delayed collections or growing AR.
A consistent alignment between the two lines shows a strong financial workflow.

2. Strengthen Revenue Cycle Management

If collections lag behind billing, review your claims aging report to find stalled claims or denials.
Ensure follow-ups are happening promptly and patient balances are addressed.

3. Forecast Cash Flow

Use this chart to anticipate your monthly inflow of cash.
Practices that bill heavily in one month may not see collections until 30–60 days later — planning for this improves cash flow predictability.

4. Evaluate Staff and Process Performance

Billing staff performance can be evaluated based on how quickly collections catch up with billings.
Consistent undercollection may indicate training needs or process improvement opportunities.

5. Align Practice Goals

Use this KPI alongside other financial metrics like Amount Billed vs. Collected by Appointment Type and Collections for Insurance vs. Self-Pay Claims
to get a complete picture of your revenue cycle health.

Best Practice Benchmarks

High-performing chiropractic practices typically achieve a collection rate of 90–95% of all billed charges within 60 days.
The time between billing and collection should remain short, reflecting efficient claims processing, effective patient billing, and prompt follow-up on outstanding balances.

Maintaining clean claim submission, verifying insurance benefits upfront, and automating billing workflows can dramatically improve collection percentages and reduce days in accounts receivable.

Benefits to the Practice

• Improves understanding of real versus expected income

• Identifies delays in insurance or patient collections

• Supports more accurate cash flow forecasting

• Highlights opportunities to reduce AR and speed up reimbursements

• Provides visibility into billing team performance