3 strategies for ASC accounts receivable management

Angie Stewart - Print  |

Managing accounts receivable helps ASC revenue cycle management staff determine where to concentrate collection efforts, according to Outsource Strategies International.

Here are three tips for clearing A/R:

Analyze monthly A/R reports. Look at monthly reports to immediately tackle any increase in aging buckets, average days in A/R or A/R over 90 days. Also maintain a spreadsheet summarizing monthly charges and payments, month-end aging buckets and average days in A/R. Only 15 to 20 percent of A/R should be older than 90 days. You should receive primary commercial payments within 60 days.

Conduct a coding audit. Review codes submitted to payers and compare those codes to what's supported in the documentation to prevent medical coding and billing mistakes from disrupting cash flow. Make sure coders are up-to-date on ICD-10 guidelines and apply them consistently across the board. Examine physician documentation for shortcomings.

Determine what's working and what's not. An internal revenue cycle audit helps uncover financial strengths and areas for improvement. Regularly conduct an internal audit of each area affecting revenue cycle, with particular focus on reimbursement, coding and billing, and staffing and observation. Billing supervisors should review every unpaid claim monthly to hold staff members accountable for correcting and appealing claims. Consider launching an external audit at least once a year for an extra level of compliance and accountability.

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