Three ASC revenue cycle management areas to watch:
1. Fee schedules. Decreased reimbursement often stems from outdated fee schedules. Updating and auditing fee schedules can increase revenue.
2. Managed care contracts. Managed care providers may push decreased reimbursement rates. ASCs should negotiate for higher implant coverage and contract rates.
3. Financial policies. ASCs should have policies in place to address patient financial responsibility. Those policies should cover workers’ compensation, self-pay patients and payment deadlines.
More articles on coding, billing and collections:
How ASCs can build a business case for optimal payer contracts — 7 strategies
‘Surprise billing’ ban lands on Texas governor’s desk — 3 details
5 strategies to improve ASC billing and collections
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