1. Audit regularly. In addition to a yearly audit by an outside firm, Ms. Zarth routinely audits billing and coding procedures, pulling 15-20 charts at random each month. This helps her keep on top of accounts receivables. The center’s average time in A/R is about 38 days, compared with about 50 days nationally.
2. Set the bar for staff. Ms. Zarth challenges billing staff to beat last year’s monthly collection level by tracking current collections over the month and putting them up on a chart for all to see. She offers the full billing staff members a free lunch if they can exceed last year’s level.
3. Check supplies as they arrive. When supplies are delivered, staff open the box and check the contents against the packing slip. Staff also verify the items against their invoices.
4. Don’t use the mail. Rather than pay postage or FedEx rates, staff use e-mails or faxes whenever possible.
5. Switch to energy-savings bulbs. “Using low-energy lighting can save a lot of money on electric bills,” Ms. Zarth says. The only downside is waiting a minute or two for lights to come on when the ASC opens in the morning.
Read more ideas for cost savings:
– Case Study: 4 Ways Michigan Surgery Center Cut Costs and Improved Profits
– Case Study: 6 Successful Ways Washington State ASC Increased Profits
– 5 Ways to Save Money on Supplies in a GI-Driven ASC
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.