Challenges faced by Ambulatory Surgical Centers
How are ASCs dealing with revenue issues?
ASCs are struggling with Medicare regulations such as Quality Net Reporting, changes in payment, issues with compounding pharmacies and sequestration reduction. As they are getting reduced payment, it has become necessary for such centers to make improvements in clinical documentation and implement automated coding to get timely payments
Impending ICD-10 has also increased challenges for ASCs. Centres with an in-house billing team are gearing up for ICD-10 by hiring experienced coders and training existing staff for the big change. Some centres are even hiring a financial officer to handle the revenue cycle needs and to monitor the billing department functions.
On the other hand, many centers have started outsourcing their ASC revenue management needs to a third party. They are relying on the expertise of a billing company as far as error-free coding, timely claims submission and AR management is concerned.
From capturing every penny for rendered services and maximizing out-of-net reimbursement to making successful appeals and closing old AR accounts, ASC billing services are helping surgeons run a successful surgery center. Billing companies are also helping ASCs comply with the changing regulations, including HIPAA. Since a dedicated team is assigned to handle the ASC’s RCM needs, surgeons don’t have to worry about coders’ productivity loss, compliance with regulations or follow-ups with insurance companies for payment. The billing company performs these tasks for the surgical center, freeing the surgeons and medical staff for provision of quality care.Back