For some ASCs, handling revenue cycle functions internally allows staff to ensure and measure appropriate performance.
Michael Patterson, CEO and president of Mississippi Valley Surgery Center in Davenport, Iowa, spoke with Becker's ASC Review on why his center handles revenue cycle management internally.
Editor's Note: This response was edited lightly for clarity.
Question: Who handles your revenue cycle management, and how do you streamline operations?
Michael Patterson: We handle revenue cycle management internally. It is important to understand the whole process and life cycle to ensure appropriate performance. We measure some very specific items — days in accounts receivable, accounts receivable percentage over 120 days, case costing, reimbursement trends for specific high volume or high cost cases, as well as our overall collections per payer segment. Our entire team has skin in the game and their quarterly profit sharing has metrics built into their goals. I have often found what gets measured gets done!