Brian Brown, regional vice president of operations of Meridian Surgical Partners, shares five benchmarks ambulatory surgery centers should benchmark on a weekly basis.
"Data is key," Mr. Brown said. "If you have access to your data, you will have more power as an administrator, clinical director or business office manager."
Five weekly benchmarks include:
• Cases vs. budget. This category includes staffing, planning capital expenditures and managing cash flow.
• Collections goal. Mr. Brown suggested making a collections goal, posting it for employees and incentivizing employees to meet this goal.
• Denial log. ASCs should track and log all denials.
• Cash management. Cash management includes collections, accounts payable, payroll and available cash.
• Hours per case. ASCs should track both productive hours — hours employees work — and non-productive hours — hours employees are on vacation and other paid time off, according to Mr. Brown.
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"Data is key," Mr. Brown said. "If you have access to your data, you will have more power as an administrator, clinical director or business office manager."
Five weekly benchmarks include:
• Cases vs. budget. This category includes staffing, planning capital expenditures and managing cash flow.
• Collections goal. Mr. Brown suggested making a collections goal, posting it for employees and incentivizing employees to meet this goal.
• Denial log. ASCs should track and log all denials.
• Cash management. Cash management includes collections, accounts payable, payroll and available cash.
• Hours per case. ASCs should track both productive hours — hours employees work — and non-productive hours — hours employees are on vacation and other paid time off, according to Mr. Brown.
More Articles on Surgery Centers:
5 Tips for Introducing New Technology to Your Board
How ASCs Can Save With Committed Supply Contracts: Q&A With Randy Piper of Amerinet
6 New Joint Venture Surgery Centers