How to Strengthen your ASC Revenue Cycle?

by Deepak Sanghi e-care India Pvt Ltd

With the effect of updates in the payment system and Ambulatory Surgical Centers (ASC) policies by CMS from January 2021; ASCs have been going through a lot changes and challenges in recent times affecting their revenue flow. Practices and physicians are trying out various options to strengthen their revenue cycle and set back their revenue goals. Discussed below are few points to be taken care of while billing for ASCs to achieve better results.

Strengthen financial health for ASCs practice

Successful ASC practice requires a lot of effort in terms of patient care and managing Revenue Cycle Management (RCM). Any deviance in rendering the due attention to the Billing functions can affect the overall health of the business. Given below can help ensure all the billing processes are intact ensuring cleaner claim submission and maximizing cash flow.

·         Adhere to the Timely Filing Limit for new claims and denials.
·         Ensure complete and accurate documentation
·         Insurance Eligibility and Benefit Verification
·         Follow Coding Guidelines for updates and changes
·         Keeping your Billing staff atop of the charges and fee schedule updates
·         Regular Claim Audits
·         Expertise in AR Follow up and Denial Management

Reduce Denial percentage to Maximize Practice Revenue

In addition to working with conscious efforts to reduce Denial Percentage, keeping a track of Claim denials is an essential step to capture revenue loopholes and curb recurrent issues. Here are a few tips to ensure cleaner claims and avoid denials.

·     Ensure every scope of the RCM Process is handled by an experienced and dedicated team of billers and coders.
·   Well experienced and Certified ASC Coder can handle claims efficiently producing quality claims reducing coding-related denials.
·  Ensure Eligibility Verification and Prior Authorization are part of claims processing to avoid denials later
·   Engaging billers and coders who have adept knowledge of ASC billing protocols can help reduce a considerable amount of denials.
·   Adapting to process automation with upgraded billing tools can reduce human errors

Billing Support for ASC Revenue Cycle.

Having an extended “Medical Billing Support” for your ASCs Revenue Cycle Management can make a lot of difference in setting up your billing standards and expanding your monetary goals. Partnering with a Medical Billing Company can turn out to be a one-stop solution for all your concerns. It also helps the providers with undivided attention to patient care while the entire Revenue Cycle Management is taken care off. Understanding what to expect from a Medical Billing Partner is essential to choose the best Medical Billing Services Provide. Read through to know the Benefits of Offshore Outsourcing your ASC billing.

· End to end Revenue Cycle Management Support including additional services like Physician credentialing, Indexing Medical Records, Data conversion and migration
·       24/5 Billing Support, with advantage 9-12 hours of time difference helping in quicker claims processing and avoiding denials due to delays.
·       Cost-Effective and guaranteed ROI
·    Expertise in handling multiple billing software with commendable tools and technologies in place for effective claims processing.
·       Safe and Secure billing functions with HIPAA Compliance to ensure PHI
· Cumulative experience working with different payers

About Ecare

Ecare is an ISO-certified and HIPAA Compliant Medical Billing Company with more than 80 clients across various states in the US. Being a multi-specialty Medical Billing Company ecare has expertise handling all major specialties. Ecare has knowledge handling both In-network and Out of Network billing for Ambulatory Surgical Centers with experienced billers and coders. To know more about Ecare and our services log on to www.ecareindia.com