As Medicare reimbursements continue to trek downward amidst healthcare reform and the national deficit reductions, there are several things endoscopy ASCs can do to capture maximum revenue, said Linda Peterson, CEO of Executive Solutions for Healthcare, at the 18th Annual Ambulatory Surgery Centers Conference in Chicago on Oct. 27.
1. Consider adding new procedures and services. Colonoscopies and upper GI procedures are staples of any endoscopy ASC, but expanding procedures and services can help offset any reimbursement decreases and open up new revenue streams. Pain management, other "oscopy" procedures and even sleep center services provided outside of the normal 5 p.m. time frame can lead to smarter revenue streams, Ms. Peterson said..
2. Look at having your own anesthesia services. Endoscopy ASCs can make money if they hire anesthesiologists and then bill their payors, but there are several caveats, Ms. Peterson said. They must be cognizant of kickback offers from anesthesia companies, and not all insurers reimbursement on the anesthesia. "Do your research," Ms. Peterson said. "If you have high volume, check with the payors, and if they pay for it, you can make some money off that."
3. Track repair costs. Several endoscopy centers neglect to track the repair costs, particularly on scopes, and automatically repairing instead of buying new scopes could cost more. "Purchase new scopes before repairs cost more than if you bought or leased a new scope four repairs ago," Ms. Peterson said.
4. Join a group purchasing organization if you haven't already. Ms. Peterson has seen 20 to 30 percent savings on medical and office supplies as well as medical and office equipment for endoscopy ASCs that are a part of a GPO. Being a part of a GPO is not a panacea for supply savings, though. Self-audits still must be performed to ensure savings are achieved on supplies. "No matter who you use, always audit and make sure you're charged contracted rates," Ms. Peterson said.
5. Monitor "people" costs. Modifying the staff mix, compressing the procedure schedule and using flexible staffing are some of the ways an endoscopy ASC can alter its labor costs. For example, an endoscopy ASC might have registered nurses doing some of the essential tasks such as cleaning the scopes, but seeing if more cost-efficient staff members such as medical assistants and technicians to do several tasks can better utilize labor costs, Ms. Peterson said.
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1. Consider adding new procedures and services. Colonoscopies and upper GI procedures are staples of any endoscopy ASC, but expanding procedures and services can help offset any reimbursement decreases and open up new revenue streams. Pain management, other "oscopy" procedures and even sleep center services provided outside of the normal 5 p.m. time frame can lead to smarter revenue streams, Ms. Peterson said..
2. Look at having your own anesthesia services. Endoscopy ASCs can make money if they hire anesthesiologists and then bill their payors, but there are several caveats, Ms. Peterson said. They must be cognizant of kickback offers from anesthesia companies, and not all insurers reimbursement on the anesthesia. "Do your research," Ms. Peterson said. "If you have high volume, check with the payors, and if they pay for it, you can make some money off that."
3. Track repair costs. Several endoscopy centers neglect to track the repair costs, particularly on scopes, and automatically repairing instead of buying new scopes could cost more. "Purchase new scopes before repairs cost more than if you bought or leased a new scope four repairs ago," Ms. Peterson said.
4. Join a group purchasing organization if you haven't already. Ms. Peterson has seen 20 to 30 percent savings on medical and office supplies as well as medical and office equipment for endoscopy ASCs that are a part of a GPO. Being a part of a GPO is not a panacea for supply savings, though. Self-audits still must be performed to ensure savings are achieved on supplies. "No matter who you use, always audit and make sure you're charged contracted rates," Ms. Peterson said.
5. Monitor "people" costs. Modifying the staff mix, compressing the procedure schedule and using flexible staffing are some of the ways an endoscopy ASC can alter its labor costs. For example, an endoscopy ASC might have registered nurses doing some of the essential tasks such as cleaning the scopes, but seeing if more cost-efficient staff members such as medical assistants and technicians to do several tasks can better utilize labor costs, Ms. Peterson said.
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