Mastering Revenue Cycle Management
Optimizing Revenue Cycle Management for Stronger Financial Health
Effective revenue cycle management is key to maximizing profitability and minimizing denials in your ASC. This bundle covers essential RCM strategies, from eligibility verification and payer contract navigation to AI-driven denial reduction and automated payment posting. Gain expert insights, track key financial metrics, and implement proven processes to improve collections, streamline billing, and enhance your ASC’s financial performance.
Podcast
What an Experienced RCM Expert Needs to Know
Mel Gunawardena from SYNERGEN Health discusses key RCM best practices, the impact of technology, and considerations for keeping RCM in-house versus outsourcing.
Podcast
Mastering Eligibility
Sayword Hill from Constitution shares insights on mastering patient eligibility, preventing claim denials, and ensuring ASCs aren’t performing procedures on uninsured patients to improve patient collections and financial stability.
Podcast
Post-Date of Service Collections
Erica Palmer shares actionable tips for improving patient collections post-discharge, covering best practices for follow-ups, payment plans, and reducing outstanding balances after the date of service.
Podcast
Upfront Collections, Payment Plans, and Tech-Driven Solutions
Marie Yarborough from Sequoia Surgical Pavilion discusses strategies for upfront collections, third-party financing, the No Surprises Act’s impact, and how technology is transforming patient payment processes in ASCs.
Podcast
Marsha Diamond – Using AI to Reduce Denials
Marsha Diamond from Aideo Technologies explains how AI can reduce payor denials by preventing common errors, increasing speed to revenue, and improving accuracy while addressing potential challenges.
Podcast
The Magic of Automatic Payment Posting
Mike Tompkins from in2itive explains how automating payment posting for commercial payers can improve billing accuracy, boost efficiency, and help ASCs get paid faster.
Podcast
Opening an ASC: Navigating Payer Contracts
Michael McClain is the founder and managing member at LeftCoast Healthcare Advisors, and we talk through how to initiate payer conversations, position yourself to get the best rates, and effectively manage contracts.
Podcast
Ensuring Profitability by Verifying Eligibility
Angela Mattioda from Surgical Notes discusses the critical role of eligibility verification in ASC profitability, covering common challenges, authorizations, technology’s role, and strategies to prevent revenue loss.
Podcast
Key RCM Reports to Track
Hilary Sondik from Surgical Notes breaks down key RCM reports ASCs should track daily, weekly, monthly, and annually—highlighting their impact on revenue cycle performance in 2024.
Video
ASC Claim Denial Rates Cut in Half (2023-2024)
From 2023 to 2024, surgery centers experienced a remarkable improvement in claim denial rates, dropping from 8% to just 4%. This 50% reduction is a major win for ASCs, directly improving cash flow and reducing the amount of revenue tied up in accounts receivable (AR).
Video
ASC Payment Trends (2023-2024)
Between 2023 and 2024, surgery centers saw a significant shift in payment patterns. Partial payments rose from 41% to 56%, while total payments dropped from 26% to 17%. This shift includes payments from both payers and patients.
Video
Pre-Auth and Insurance Verification Rates (2023-2024)
Did you know that only 24% of cases in ASCs complete pre-authorization? Pre-authorizations are critical for ASCs, as missing them can lead to delays in patient care, scheduling issues, and costly claim denials.
Video
Post-DOS Billing and Collections Trends (2023-2024)
On average, surgery centers take 5 days to bill after the date of service, but there’s significant variation by specialty. Podiatry has the longest turnaround at 7.6 days, while dental leads with the fastest billing at 3.1 days.
Video
ASC Net Revenue Trends (2023-2024)
Seven specialties saw revenue growth, with “Pain” leading the way with a 16.3% increase, while five specialties experienced a decline, with “General” seeing the largest drop at 14.4%. Despite these shifts, the overall increase in average net revenue per case for ASCs was just 0.6%.
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