The following seven definitions are need to know for AccuReports® Users. The Alphabetized Healthcare Acronyms Defined section that follows provides more general information for healthcare business professionals.
FRG Financial Recovery Group
Financial Recovery Group is a healthcare information technology company established in 1999 first to perform overpayment and recovery audits for health plans and later adding the two service lines of online analytical reporting software and medical economics advisory services for substantial financial risk and value-based contracts.
AR6 AccuReports® Version Six
AccuReports® Version Six is application software produced by FRG in 2019 to make it easy to identify opportunities to improve the financial performance of risk, shared savings and incentive contracts. Drill-through group, center and PCP summaries to member-level revenue, claims and pharmacy detail. AccuReports® was originally released in 2001 to help health plans distribute data and provider organizations aggregate data from multiple health plans. It has been re-released with enhancements in 2005, 2011, 2014 and 2019.
EFR Expense to Funding Ratio
The Expense to Funding Ratio is the fraction created by dividing the total medical expenses for a panel of members for a chosen time period by the corresponding medical cost budget. The medical cost budget is computed by multiplying the premium available to the risk pool by the target medical loss ratio for the panel manager (e.g. the group, center or PCP). EFRs below 100% mean the panel is consuming fewer resources than are allocated and thus creating a surplus or savings. EFRs over 100% indicate the presence of a deficit from either