Vickie Sanders: To assist a struggling ASC, I would first:
- review staff assignment, roles and responsibilities to ensure adequate staffing to case volume
- review facility financial policy and procedures; and
- review and analyze the revenue cycle step-by-step to identify any potential breakdown in the flow of information and follow-up effort between transcription, coding, charge entry, electronic billing, billing rejections, A/R follow up, payment posting and adjustments to include bad debt write-off.
Once the initial review is complete, a more detailed review would follow to include analyzing:
- payor contracts;
- trends in revenue, payments or denials by payor; adjustments to
- include bad debt; and specialty mix; and
- high dollar A/R balance review.
The result of these efforts would produce a detailed report of the findings in addition to an action plan with recommendations on how to implement a plan of action and resolve the current problem.
Learn more about Nueterra Healthcare.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.