Benchmarking can help ASCs evaluate financial performance and identify areas to improve, according to ASC revenue cycle service company Serbin Medical Billing.
Three revenue cycle benchmarks to track:
1. Compiling external benchmarking data from other ASCs can give revenue cycle staff an idea of how their ASC is performing compared to others.
2. Gathering data on your own ASC through internal benchmarking is also useful. The key data to collect includes average reimbursement, average days to bill and overhead costs.
3. Internal benchmarking can also help when determining areas for quality improvement.