To help ensure an ASC's financial stability, areas where revenue can "leak" should be addressed, according to Serbin Medical Billing, which specializes in ASC clients.
1. Patient collections. ASC staff should call patients and inform them of their financial responsibility before surgery. Payment plans and promissory notes should be used sparingly.
2. Denial management. Payer denials or incorrect reimbursement can affect ASC revenue. ASCs can avoid losing revenue by identifying the causes of denials, including registration errors and no coverage at the date of service.
3. Coding. Errors such as coding for the wrong procedure can result in ASCs losing money.. Conducting regular audits of coders' performance can mitigate coding problems.