PracticeVital revenue reporting features can offer powerful insights into the health of your practice.
PracticeVital revenue reporting features are in beta as we continue to learn more about the needs of our customers. These reports are intended for directional forecasting and understanding trends and comparisons over time. Please continue to refer to your EHR for all billing, payroll and accounting purposes.
We're currently granting access to revenue reporting based on requests from practice owners. Please reach out to support@practicevital.com if you are interested. We would love to hear your feedback!
We restrict visibility of Revenue to only practice owners by default. If you currently have access and would like to grant access to other PracticeVital users in your practice, please:
- Go to Settings and scroll to the PracticeVital Users section
- Click Edit Role on the row of the user you would like to grant access
- Select Admin then Save Changes
If you would like to remove access to revenue, follow the same steps, but select Limited User as the role.
Key things to keep in mind regarding how we calculate revenue:
- The EHRs typically report revenue according to the date payment is received. Our intent is to offer an alternative data view, tying session-specific revenue to the date of service for that appointment. This allows you to better understand how your revenue directly ties to the work your team is doing, at the time it’s being done.
- PracticeVital currently tracks the revenue coming from appointments only. We don't track any other products or services offered by the practice that are not tied to an appointment. This also means that only payments (from clients or insurance payers) that have been allocated to appointments are included.
- We exclude any appointments that still have an open balance or partial payment when calculating average revenue.
The Revenue Report
View total revenue for your practice over time to identify trends and patterns. As with the Completed Sessions and Cancelations reports, you can specify Total Practice, Compare Clinicians, Clinician Groups, or select individual clinicians.
Set the depth of detail you would like displayed in the data table by selecting either Compact, Summary or Codes. The Codes view will give you the revenue breakdown for the billing codes used by your practice.
The Average Revenue Per Session Report
Use this report to get an understanding of the average revenue per appointment for each clinician in the practice. Unlike Completed Sessions where each billing code can either be counted as 1 or a custom value set by the practice, we calculate the average based on the total number of appointments for the selected timeframe.