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Effective Billing Methodologies- A Recipe for ASC Profitability
Billers in an ASC setting play a significant role in profitable Ambulatory Surgical Centers. Ensuring complete reimbursements depends on the ability of the biller to submit accurate claims on a timely basis. In order to assist facilities get a better grip on their revenue, it is pertinent for an effective billing process to be in place. The first step involved in enhancing collections is the root of the process- as easy as validating insurance eligibility.
Industry Highlights Ambulatory surgery centers spend an average of $1.42 million on employee wages Making use of an EHR in an ASC can reduce costs by 3 percent
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Understanding ASC Billing Challenges
With advancement in medical facilities across the nation, the United States now hosts almost the same number of Ambulatory Surgical Centers as there are Hospitals. Though the numbers of outpatient surgeries are gaining popularity day by day, physicians, coders and insurance companies have to keep changing their daily proceedings with changes in the norms of Health care reforms. Insurance does play a comparable part in outpatient procedures they would play generally, however they are normally faster to act and the expenses connected with the procedures are lower. Claim denials for ASCs and lesser reimbursements put profits at a risk.
Industry Facts If a patient fails to pay within 28 days, the chances of getting paid at all reduce to below 10 percent. States with the highest denial rates for surgery centers- New York – 37 percent Georgia – 27 percent...
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