ASCs can improve their cash flow by regularly evaluating aspects of the revenue cycle process, according to Serbin Medical Billing.
Five tips:
1. Determine whether the center is on track to maintain its forecasted profit margin by evaluating the top-performed procedures.
2. Compare case expenses to managed care contract rates to ensure the coverage is adequate.
3. Regularly audit charge posting, claim submission, government and private payers, and patient balances.
4. Make sure front-office staff members have the experience and resources necessary to perform their duties efficiently.
5. Offer staff continuing education on commercial and government reimbursement updates.