Rush SurgiCenter Chicago saw its financial performance increase after using the SNBilling revenue cycle management service, according to a study released by Surgical Notes.
Note: Surgical Notes created the SNBilling service.
What you should know:
1. The center reached out to Surgical Notes after noticing a decline in financial performance with alarming trends in certain revenue cycle metrics and beginning to look for a new revenue cycle management partner.
2. The SNBilling service manages all aspects of the ASC billing process. Rush saw its billing department improve, which resulted in its days to pay decreasing.
3. After six months, the center noticed:
- Days to bill reduced from 10 to five days
- Days to pay reduced from 52 to 28 days
- Payments received for cases over 90 days old increased from $175,000 per month to $880,000 per month
- Accounts receivable greater than 90 days reduced from 41 percent to 24 percent
4. Rush continued to use the service for the last three years. Revenue cycle performance metrics remained strong.