Ms. Woodell shared three ways ASCs can efficiently handle managed care contracts to increase profitability:
1. When an ASC adds a new service line, managed care contracts should be updated accordingly. Evaluating how the center is doing based on payer and service line is a good place to start.
2. Determining how service line and payer performance affect operational margins is the next step.
3. ASCs need to collect data on timely and accurate payments to ensure implants are paid for at the contracted rate.
More articles on coding, billing and collections:
What CMS’ decision to pay separately for Exparel use means for ASCs — 5 insights
Envision & UnitedHealthcare agree to extend contract after intense, lengthy battle — 5 insights
Dr. Zahid Aslam will pay $3M to resolve criminal liability and FCA allegations — 5 details
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.