Medical Diagnostics has widely emerged and matched the growing business criteria in the healthcare sector with MIS reports software. Digital adoption & data management reporting system in MIS has been the pillars of such growth. Industries of all shapes & sizes are aligning to a robust lab management information system report provides actionable insights in the form of reports.
Management Information System (MIS) Reports are vital for a healthy flow in your company. They give you in-depth knowledge of your operations and finance using where you can track, analyze, evaluate, compare, learn and make decisions to improve future outcomes of your lab.
So, if you are using a LIMS system, ask yourself if you can monitor all key aspects of your business using these reports for MIS? To help you understand the varied types that can be useful to analyze & compare various ends of your business and identify loopholes, here is a list of different types of management reporting system that you must have in your LIMS system.
Different Types of MIS Reports
Billing Reports
By recording end-to-end billing details to represent them into a comprehensive output helps you improve financial tracking with expense report software. You can learn about dues from patients from a single place and maintain track of pending bill amounts.
Total Billing Report — Gives you a complete representation of all customer billing data.
Total Billing Report Department-wise — Most effective to study and monitor billing information categorized by departments.
Collection Reports
These help you learn about your daily/monthly collection from various sources. With in-depth and accurate data you are enabled to tally your financial inflow. It is most useful to account and reconcile to your bank.
Total Collection Report — It records and presents meaningful information right from the collecting person to the source of collection and everything in between.
To have a separate and categorized analysis you can also check the following –
- Cash Collection Report
- Cash Collection Report with Expenses
- Cheque Collection Report
- Credit Card Collection Report
- Credit Collection Report
- Debit Card Collection Report
- Collection Summary Report
- Day Collection Report
- Online Payment Report
- Cash Collection Reports with Expenses
User-wise Collection Summary — Provides a detailed summary of collection based on the user-types which becomes easy for the lab to keep a check and analyze differences in numbers.
Revenue Reports
These are useful to evaluate revenue coming from patients and B2Bs becoming critical to compare from previous days or months in order to study profit and loss areas in operations. It also becomes important to track bottlenecks with clear analysis and enables the lab to plug leakages that hamper business. Using such reports, lab authorities can make informed decisions by implementing a better revenue management strategy for their company.
Organization Revenue Report — Helps lab determine the information on the B2B revenue cycle that can be categorized organization wise.
Patient Revenue Report — Useful to draw revenue information based patient-wise.
Apart from finance reports, one of the most essential types of MIS reports includes Exception Reports. It consists of data that shows if any lab authorities have made edits to entries while billing. The data is essential in tracking and analyzing leakages and identifying points that can be fixed in order to have smooth and best expense management software in your organization.
For better traceability, analysis, and improvement of your lab, it is crucial to track important business ends regularly. Knowing the essential MIS reports that contributes to growth and success can help in scaling your business.
Read more about Business Reports here.
