Smith+Nephew entered into a strategic partnership with National Medical Billing Services to provide revenue cycle management solutions to ASCs across the U.S.
Four things to know:
1. The venture is part of the Positive Connections program that aims to support the transition of orthopedic cases into the ASC. The partnership will support ASCs as they navigate through the COVID-19 pandemic.
2. Through the partnership, the companies will offer revenue cycle management support to increase ASC cash flow and strengthen compliance. The partnership will also help ASCs streamline back-office financial processes and procedures based on National Medical's proprietary intelligent workflow technology, analytics and advice.
3. National Medical and Smith+Nephew aim to focus their partnership on helping ASCs compress the revenue cycle time frame, improve cash flow, develop solutions for contracting issues, create payer-specific invoices, and aggregate clinical and financial data into one repository.
4. The companies will also provide customer education events so surgeons can stay updated on new regulations and financial constructs.
"As more high-acuity procedures migrate to the surgery center setting, it is critical for ASC administrators to examine and refine their managed care contracting, billing and accounts receivable processes, and to have sophisticated technology and analytics at their fingertips," said Nader Samii, CEO of National Medical Billing Services. "We are excited to partner with an industry leader like Smith+Nephew so we can combine the deep expertise of our team of revenue cycle professionals with value-focused solutions to create a comprehensive program for ASC customers."