1. Claims are not being paid within 45 days. To improve claims payment, file claims electronically, investigate unpaid claims and verify CPT codes.
2. Variation in total collections. Create a key performance indicators report and seek the reason for the variation.
3. Collections per RVU rates are less than $35.80. Top commercial payers should have a collection per RVU rate higher than the Medicare conversion factor, $35.80 for 2015, according to the report. Consider dropping a payer that is paying less than others for the same procedure.
More articles on coding and billing:
30 statistics on average commercial reimbursement by specialty in 2014
ICD-10 change: It’s real this time…again
Opinion: ICD-10 vital for 21st-Century cures
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.