It can be overwhelming to search through all of that data to find new ways to save money. Start by reviewing your procedure volume report — by current procedural terminology (CPT) code — to identify the highest volume procedures. Then read through the following two opportunities to cut back your costs.
- 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.
For more ways to save and other supply chain insights, visit Cardinal Health’s ASC services page here.
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.