Here are four billing mistakes ASCs should avoid, according to a post on Regent’s blog:
1. ASCs not reconciling billing is a major mistake which ASCs can avoid by tracking performed cases and billing them out in a certain timeframe.
2. Not appealing claims is another mistake ASCs make, according to Regent. ASCs can fix this mistake by addressing flawed payments right away.
3. Monitoring key billing performance metrics is something ASCs often fail to do. Using measuring and reporting software can help ASCs track revenue cycle benchmarks.
4. Mistakes in payment posting can cause financial losses for an ASC which can be avoided by cross-checking that billing, payment and collection information lines up.
More articles on coding, billing and collections:
Bill would require ASCs & hospitals to disclose prices for top 100 procedures — 4 things to know
Oregon hospital association lists costs for common inpatient & outpatient procedures — 4 insights
The top 3 strategies ASCs can use to increase revenues on payer contracts
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.