How Ambulatory Service Centers Can Improve Cash Flow by Streamlining Billing Services

Steady cash flow is crucial to run a business successfully. Without a continuous revenue flow, the business can’t survive for long. Like in other businesses, the healthcare industry also struggles to generate revenue. Payers and patients usually delay or deny payments while the practices keep chasing them for payments. Yet the state and payer guidelines keep updating regularly, and if practices fail to comply with these rules, they face denials or heavy penalties.

 

ASCs (Ambulatory Service Centers) always work hard to provide exceptional patient services. But even the long-standing ASCs that have recently started providing services to patients are looking for ways to streamline their billing. There are multiple ways to eliminate blockages from your revenue flow and streamline your billing. If you are looking to increase your cash flow by streamlining your ASC billing, this article is for you. We have got the most straightforward ways that can give you the results you always wanted.

 

Top 4 ways to streamline your ASC billing processes

Ambulatory surgery centers are the most rapidly growing healthcare services in the US. However, ASCs fail to generate revenue as their billing process consists of hurdles that stop the cash flow. Here are the top ways to eliminate the hurdles and streamline ASC billing.

 

Consult from experts

Medical billing processes and rules change with the specialty. The documents mandatory to process bills for one specialty might be utterly irrelevant for the other. It is vital to strictly follow every process when billing for a claim, as growth for your ASC depends entirely on the reimbursement generated from the submitted claims. Only experts who are highly experienced in ASC billing know how to file clean claims and get maximum reimbursement for your practice. Always consider hiring experienced ASC medical billers to achieve your desired FPAR.

 

Code efficiently 

Coding errors are the most common reasons for rejections or denials for an ASC. Codes used while filing a claim are very important to get the reimbursement that an ASC deserves for the services offered to their patients. Certified coders know how to code precisely, and they never upcode or undercode. Experienced coders certified in ASC coding will constantly be updated with the changes in coding guidelines and will only use valid codes. ASCs should work with professionals who can code efficiently to submit claims that give complete reimbursement.

 

Learn from mistakes

Medical coding is intrinsic, and mistakes happen despite keeping a keen eye on all steps. Even the most careful and experienced ASC biller and coder can make mistakes. Sometimes, your team doesn’t do the patient eligibility check, while sometimes the coders miss an essential code or modifier. There are chances that the front office staff needs to enter pertinent patient information, which gets carried forward, leading to claim denials. ASCs should conduct a denial and rejection analysis, keep track of past errors, and ensure those never get repeated.

 

Ensure all billing processes are in place

To streamline the ASC billing, it is crucial to implement proper processes and take appropriate steps to measure the decided KRAs. ASCs should create transparency in the billing process so that complete staff knows the claim’s status and what steps to take next. Billing staff should appropriately coordinate with coding and other front and back-office team to keep all the processes in place. ASCs should provide patient-centric services and ensure the patients are completely satisfied before, during, and after treatment. You should always remember that your cash flow depends on patient engagement and satisfaction.

 

An additional tip to streamline your ASC billing services

Outsourcing has been in debate since the time practices started adapting it to streamline their RCM process. Opposite to what most ASCs believe, outsourcing is the simplest way to improve cash flow and streamline your billing process. Outsourcing reduces the cost for ASC and eradicates the recruitment hustle. Once you decide with whom you want to partner, it is just a matter of time before you start enjoying their benefits. Listed are the few benefits of outsourcing ASC medical billing services:

 

  • Minimize the cost of IT infrastructure needed
  • Nullify the cost of hiring and training staff
  • Significantly reduce the documentation work
  • ASCs can entirely focus on patient care
  • Faster turnaround time

 

Outsourcing lets you track all the processes and gives you ample free time to focus on other essential tasks necessary to grow your business.

 

Every ASC needs a partner with experience in providing exceptional revenue cycle management services, who knows the billing process in dept, and who is skilled in getting maximum reimbursement for the submitted claims. If you want to streamline your ASC billing, consider partnering with Plutus Health. Plutus Health has 15+ years of experience in providing RCM services to ASCs. They have a team of professionals experienced in providing billing and coding services to the ASCs who have set a benchmark in the industry and are renowned for getting full reimbursement on the claims submitted.

 

 

 

 

 

 

 

John Smith

John Smith

Plutus Health Inc provides medical RCM services to all the major healthcare providers and hospitals of Dallas. We specialize in providing quality medical coding and billing service

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