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Why ASCs fail + 3 ways to ensure financial success

To avoid failure, ASCs need to examine their financial policies and employ strong leadership, according to ASC software developer Surgical Information Systems.

ASCs that don't want to fail should:

1. Plan ahead. ASCs fail due to a lack of planning. When developing an ASC, key planning includes routine communication with staff, setting goals and staff training. ASC owners shouldn't be "hands off" when running the business.

2. Manage an out-of-network strategy. When dealing with out of network claims, ASCs should communicate with payers to determine if the center needs to file tax documents, or other paperwork to avoid denials.

3. Stay consistent with managing patient finances. Because physicians at ASCs often perform elective procedures, they are required to provide patient financial counseling. ASCs should try to be consistent with policies requiring payments before surgery, and with how they handle insurance plans.

More articles on coding, billing and collections:
ASC revenue cycle, revisited – best ideas for meeting benchmarks from 3 administrators
Dr. Barron Nason to open multispecialty group 4 years after $1M fraud settlement
Optimizing medical billing and collections — 4 strategies

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