As a medical practitioner, you realize there are many roadblocks and challenges that inhibit your strengths as a provider. ASC (ambulatory surgery center) revenue cycle management can help you overcome those challenges, identify gaps in the process, and focus on those areas that have a positive impact on your revenue cycle. An internal audit of sorts on a regular basis can assist you in identifying key performance indicators. Let’s take a look at some benefits of ASC revenue cycle management practices that can help you overcome those practice challenges.
Accuracy in scheduling: Getting accurate and complete information when scheduling your patients seems like it would be fairly easy but this is a task that often falls through the cracks. Gathering patient names, insurance, birth date and other pertinent information is standard practice, but oftentimes this information is not verified, leading to a lot of energy expended later tracking all of it down. This not only wastes time, it also can result in claims being denied or delays in payment collection. Both of these affect your bottom line, so it’s important to get it right the first time. It’s time to take advantage of online pre-admission technology that allows the patients themselves to update their medical histories on their own time, such as at home before their appointment.
Verify benefits in advance: Rather than waiting to the last minute (aka, when the patient shows up for the appointment), good ASC revenue cycle management practices dictate that you ensure patient coverage well before the procedure or appointment. This way, you can pinpoint any potential issues beforehand, get them rectified and have a seamless day-of experience. This includes verifying coverage for the actual appointment or procedure, making sure you have obtained the proper referrals, determined deductibles, etc. ASC revenue cycle management software can track insurance data, benefit information, and surgery coverage qualifications all in one place. As a result, you can cut down on collection costs, prevent last-minute cancellations, and decrease bad debt.
Outsourcing coding and billing: Handling coding and billing in house can be overwhelming and ineffective, taxing your already-stressed staff members who are expected to tack on more duties to their crowded days. When you outsource your coding and billing, you’re able to get your claims processed in a more timely manner and with increased accuracy, with one central database for information that cuts down on manual data entry. No more billing, insurance or collection delays!
Get in Touch with Medical Healthcare Solutions
Medical Healthcare Solutions offers ASC revenue cycle management services for ambulatory surgery centers (ASC) with software that allows us to benchmark key revenue cycle management performance indicators. As a result, we can better determine your strengths and weaknesses and implement the right improvements to your bottom line. Give us a call to learn more about our ASC revenue cycle management services at 800-762-9800 or fill out our convenient online form.