Regent Revenue Cycle Management’s (RCM’s) video series features nine industry-specific videos that can be used to evaluate the health of an ambulatory surgery center’s (ASC’s) revenue cycle. The third video examines claim denial rate, the percentage of claims that are rejected by payers.
The Regent RCM gold standard for claim denials is five percent – half the industry standard. Regent RCM Vice President Michael Orseno discusses this benchmark and how keeping this percentage low will keep the number of days outstanding low and the percent of days in accounts receivable (A/R) low as well.
Common reasons for potential claim denials include:
- Missing pre-authorization or referral
- Medically unnecessary procedures
- Incorrect payer selected
- Wrong format
Click here to watch the video and learn a variety of tactics aimed at helping centers achieve the Regent RCM gold standard.
Looking for more ways to gauge your center’s financial health? Watch Regent RCM’s three-part ASC revenue cycle benchmarking webinar series or contact one of Regent RCM’s dedicated revenue cycle specialists today.