Many ambulatory surgery centers have experienced revenue cycle challenges during the COVID-19 pandemic, as a result of decreased case volume and delayed reimbursement. We are working closely with our surgery center clients to improve their revenue cycle management, resolving cash flow issues and helping them collect as much revenue as quickly as possible.
Regent RCM partnered with Surgery Center of Reno in Q4 of 2019, and our team implemented a plan to reduce reimbursement delays and increase upfront collections and net collections per case.
“In just nine months, we put processes in place that have led to significant positive changes for the center,” said Leslie Favela, Regent RCM’s manager of revenue cycle business development. “That trend has continued throughout the rest of the year with sustained improvements. We set rigorous benchmarks for the center, which we stay focused on through quality audits and monthly spot checks.”
The net collections per case at the center increased $124 per case on average from September 2019 to May 2020, when compared to the previous year, without any significant changes in payer mix. Overall case volume has decreased due to the pandemic, but when we multiply the collections per case for this period by the previous year’s case volume, we can see the impact of the revenue enhancement reaches $444,000.
Surgery Center of Reno also transitioned several payers to EFTs, reducing paper checks and decreasing payment time by eight days. The center has concentrated on increasing the rate of upfront collections, improving the amount collected by 53% and decreasing self-pay AR by an average of 46% by May 2020. AR follow-up efforts also rose by 39% overall and 86% on appeal.
The end of August marked the first year of Regent RCM’s partnership with Surgery Center of Reno, which has resulted in crucial revenue management cycle successes. Between September 2019 and August 2020, net collections increased by $157 per case on average, when compared to the previous year without any significant changes in payer mix. When multiplied by the case volume for the previous year, this totals over $560,000 in total revenue enhancement for the year.
“Efficient, focused revenue cycle management is making a material difference for the Surgery Center of Reno,” said Regent Surgical Health Vice President of Operations Anne Roberts. “The center has always had a stellar clinical reputation and with the partnership with Regent RCM, they are thriving operationally and benefitting from the processes that the focused revenue cycle team has put in place to reduce delays and increase both upfront and net collections for each case.”