Ambulatory surgery center management and development company Regent Surgical Health has officially launched a revenue cycle management service. Here are five things to know about the new service.
1. Regent's revenue cycle management service focuses on optimizing ASC billing and collections workflow, as well as generating metrics to analyze and improve ASC financial health.
2. "Regent understands the important role revenue cycle management plays in a facility's success. Leveraging our proven performance and established expertise, our service provides consistent, high-touch customer service and allows ASC managers to focus on high-value activities," said Regent CEO Thomas Mallon.
3. The service has had several recent client successes including:
• Identifying coding issues in a West Coast facility leading to $600,000 in underpayments and collecting $501,000 within five months.
• Increasing collections at an East coast ASC by 89 percent and decreasing the facility's days outstanding from 46 days to 16 days.
• Increasing a west coast ASC's collections by 42 percent and decreasing days outstanding by 45 percent.
4. Revenue cycle specialists are assigned specific accounts and consistently community with patients and the client.
5. Billers and collectors have an average of 17 years of experience each and are all bilingual in English and Spanish.
More articles on coding and billing:
5 ASC coding & billing changes to anticipate in 2015
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1. Regent's revenue cycle management service focuses on optimizing ASC billing and collections workflow, as well as generating metrics to analyze and improve ASC financial health.
2. "Regent understands the important role revenue cycle management plays in a facility's success. Leveraging our proven performance and established expertise, our service provides consistent, high-touch customer service and allows ASC managers to focus on high-value activities," said Regent CEO Thomas Mallon.
3. The service has had several recent client successes including:
• Identifying coding issues in a West Coast facility leading to $600,000 in underpayments and collecting $501,000 within five months.
• Increasing collections at an East coast ASC by 89 percent and decreasing the facility's days outstanding from 46 days to 16 days.
• Increasing a west coast ASC's collections by 42 percent and decreasing days outstanding by 45 percent.
4. Revenue cycle specialists are assigned specific accounts and consistently community with patients and the client.
5. Billers and collectors have an average of 17 years of experience each and are all bilingual in English and Spanish.
More articles on coding and billing:
5 ASC coding & billing changes to anticipate in 2015
3 tips for orthopedics coding & billing
7 benefits of outsourced billing