An optimized billing cycle is crucial to running a successful ambulatory surgery center yet many ASCs struggle with an uncertain revenue cycle caused by charge entry lag, according to a NextServices report.
Lag is the delay between the date of a service and the actual claim submission. This delay leads to an uncertain revenue cycle marred by difficult revenue prediction and strenuous identification of problem areas.
Below are six tips for minimizing lag days:
Lag is the delay between the date of a service and the actual claim submission. This delay leads to an uncertain revenue cycle marred by difficult revenue prediction and strenuous identification of problem areas.
Below are six tips for minimizing lag days:
- Whether dealing with consultations or procedures, try to complete all encounter documentation either while with the patient or before the end of day.
- Optimize technology use. Invest in an EHR system or practice management software that has mobile capabilities and integrates billing modules to allow billing to be easily completed while on the move.
- Every physician has his or her own process or style of work so customize encounter sheets or EHR modules to fit accordingly.
- When possible, automate the billing cycle by using OCR software to extract relevant text from scanned encounter sheets and couple it with custom automation scripts to document CPT and ICD codes within an EHR/PMS.
- Cross-check all claims, before going out of the system, against coding guidelines for compliance.
- Verify coverage details prior to and at the time of service by using real-time eligibility utilities to curb charge lag due to missing coverage and benefits.