Financial review

Financial review

  1. The top portion of the report shows Practice Revenue, Number of Invoices,  and Average Invoice Amount for the given time frame. 
  2. Next, the report displays comparisons for Revenue, Number of Invoices, and $/Invoice for the current/previous 12 months. 
  3. The Practice Category Details table shows your revenue by category for the given time frame. 
  4. The pie chart displays % amounts for each category. (Note, on the pie chart the $$ number is the same as the table but the % number is different - perhaps they are pulling differently?)
Possible known data discrepancies: 
  1. Some data discrepancies you might see here are the Practice Revenue Total and the Practice Category Details Totals might not equal each other. The reason for that is because of invoice level adjustments.
  2. Invoice level adjustments include discounts, wrong codes, and all sorts of things.
  3. Each Practice Management System is different with using this report because each Practice Management System handles invoice level adjustments differently.
  4. Cornerstone and Evet specifically, are notorious for being off. If the Practice Management System is Evet and the numbers are way off it could be because you recently switched to Evet from a different Practice Management System. If that is the case, Evet only pulls the last month of payments from the previous Practice Management System. Cornerstone does not run revenue reports based on when the invoice has been posted, a Cornerstone practice has to manually say when the month/week/day ends. That being said, if the practice does not close Monday, on Monday that could skew the time frame numbers.
  5.  Another culprit is if your practice is a shared database - numbers can get mixed up from one location to another. As you can see, these issues have nothing to do with our analytics numbers. We pull the data in as best as we can based off of what is in your Practice Management System.
If the practice has more than a 20% difference in revenue and the above does not apply, let AllyDVM know and we will look into it.