Gauging the health of a surgery center’s revenue cycle is challenging. Regent Revenue Cycle Management (Regent RCM) Vice President Michael Orseno and his team recognized the struggle and responded by identifying, defining, and interpreting ASC-specific revenue cycle benchmarks and developing a series of videos series that can be used to evaluate the health of any ASC’s revenue cycle.
The sixth video examines claim lag and charge lag. Charge lag is measured from the date of service until the charge entry date, while the claim lag is the number of days from the date of service until the billing date. Claims should be sent out the same day as charges are entered and coded.
“If centers are experiencing a difference between the two lags, this is an indication that the billing department may be holding claims or entering charges but not sending them out in a timely manner,” said Orseno. “Transcription and coding for each should be completed in 24 hours or less – that is the gold standard – which still leaves 24 hours to get the claims out the door.”
Click here to watch the video and learn more about this valuable metric, and why there should be no difference between the two lags.
Are you ready to use this key performance indicator to improve your revenue cycle? Gain information on this and the other ASC benchmarks by watching the three-part webinar that goes into further detail on the topic, or have your questions answered by contacting one of Regent RCM’s revenue cycle specialists.