Every Electronic Health Record and Practice Management system offers a set of standard reports. How can you quickly search through all of that data to find new ways to save money in your ambulatory surgery center (ASC)?
Start by reviewing your procedure volume report — by current procedural terminology (CPT) code — to identify the highest volume procedures. Then read through the following five opportunities to save within each one.
- Find procedures where the cost is higher than your reimbursement.
Compare charge reports to actual reimbursements to identify CPT codes that are losing money. Remember, procedure plus reimbursement equals lost money. - Reveal which supplies cost the most.
By evaluating the highest-cost supplies for each CPT code (such as implants, hoods or laparoscopic supplies), you can standardize these products or find lower cost, clinically acceptable alternatives. - Compare the length of procedures between physicians.
Use electronic medical record (EMR) data to see who is most efficient for each procedure and leverage those best practices to improve performance across your entire physician group. Leveraging these best practices to improve procedure performance can ultimately save you money. - Improve patient throughput.
Identify reports that capture the amount of time patients spend in your surgery center — signing in to discharge. Identify best practices that can improve efficiency among your physicians and facility overall. - Focus on your implant log.
Use EMR or PM system data to match implant procedures with actual billing since implants are often reimbursed above the standard procedure rate. For example, in a podiatry case you might bill not only for the implant, but also a flat fee for a bunionectomy.
Are you ready to cut waste and lower costs in your OR? Make sure to keep these five cost saving opportunities in mind. For more ways to save, visit cardinalhealth.com/surgerycenters.