Q2 Award Winners Smiling

Congratulations to our Q2 Award Winners

Regent Revenue Cycle is pleased to present our 2019 Distinguished Performance Q2 award winners. Each recipient met or exceeded all Regent gold standard performance benchmarks including:

  • A/R follow up
  • Decrease in % of A/R over 90 days
  • Highest quality audit results for Q2

Our revenue cycle specialists continue to deliver excellent quality service in the industry’s competitive field.  

“Everyone is so proud of this group of employees,” said the RCM Management team. “The Regent gold standard performance benchmarks are extremely difficult to meet, yet alone exceed, and these individuals went above and beyond to deliver excellence. In addition to reaching or surpassing these goals, this group exemplifies our R.I.S.E. values of Respectful Caring, Integrity, Stewardship, and Efficiency that we all strive to reach.” 

Congratulations Gabriela Alcarez, Ariana Treto, Denise Soriano, Lila Casas and Angela Valentin. We look forward to seeing what you all accomplish in Q3.

Doctor smiling - three myths whitepaper

New Whitepaper Debunks Three Myths about Upfront Patient Financial Counseling and Collections

To combat climbing health insurance deductibles and co-pays that push a larger portion of the cost of surgery from insurers to patients increasing collections risk, ambulatory surgery centers (ASCs) have responded with more robust financial pre-registration processes to maintain efficiency and profitability. A new whitepaper offers insights into this trend, while separating myth from reality regarding implementation.

Regent RCM’s Erin Petrie, Director of Revenue Cycle Management, says while there was resistance in the marketplace to upfront patient financial counseling and collections just a few years ago, the practice is rapidly gaining acceptance today. More than 90% of patients want to know their payment responsibility prior to a provider visit or scheduled procedure.

“In response to the trend, we’re making sure to include in our financial planning process an upfront review of the patient’s benefits,” she says. “Taking this step helps ensure transparency about out-of-pocket expense, so costs can be estimated, explained, and ideally, collected in advance of services being rendered. It makes patients more comfortable about their financial commitment and reduces our risk on the backend.”

Regent RCM, a leading provider of innovative and cost-effective revenue cycle management services exclusively for ASCs, is working with leading ASCs to put programs in place that operationalize upfront patient financial counseling and collections, and to dispel outdated myths that keep centers from benefiting from these proactive processes. The new whitepaper, available for free download here, addresses three common myths:

  • Myth #1: Advance collections won’t work.
    Reality: It’s happening. And it’s helping.

  • Myth #2: The practice lacks physician support.
    Reality:
    Physicians understand that healthcare providers must embrace good business practices in order to stay solvent and continue to provide quality care.

  • Myth #3: Attempting advance collections might prompt surgery cancellations.
    Reality: Patients appreciate transparency around what charges they’ll be accountable for and understand that high deductibles are the new norm.

The white paper offers proof that payment only after services are delivered is an outdated mindset in healthcare, citing the advance collections experiences of two leading ASCs, Glasgow Medical Center in Newark, Delaware, and Palos Surgicenter in Palos Heights, Illinois. The paper also offers four suggestions for ASC leaders interested in implementing advance collections.

To learn more about Regent RCM’s work with ASCs to implement upfront patient financial counseling and collections, contact Favela at lfavela@regentrcm.com.

Regent RCM Launches New Guide Empowering Surgery Center to Self-Audit Operations

As ongoing consolidation among healthcare payers squeezes surgery center reimbursements, periodic business office audits can be key to identifying a center’s financial stress points, strengths, and opportunities. Regent Revenue Cycle Management (Regent RCM), a leading provider of innovative, cost-effective revenue cycle management services exclusively for ambulatory surgery centers nationwide, recently published a new self-audit guide to help center administrators audit operations to ensure their ASC stays within compliance while producing maximum revenue.

“Conducting a self-audit is the fastest way for centers to get on track and stay on track,” says Erin Petrie, Director of Revenue Cycle Management at Regent RCM. “A routine audit gives your center the mechanism it needs to ask and answer the questions that lead to stronger financial health.”

Revenue cycle management for a surgery center is complex. In the guide, How to Self-Audit and Improve your ASC’s Financial Health, Regent RCM experts suggest ASC administrators examine four areas affecting the financial function of an ASC: reimbursement, coding and billing, staffing, and observation (workflow and process).

In addition, to bring clarity to surgery center billing, Regent RCM’s Petrie suggests centers monitor ASC-specific benchmarks such as accounts receivable days, net collection rate, statement lag and charge lag, for information to trigger a new audit.

“When you notice negative changes in important benchmarks, a business office audit can be the best course of action,” Petrie contends. “A full business office audit examines both quantitatively and qualitatively all components of the revenue cycle process to determine strengths and weaknesses.”

Click here to download the free guide.

Regent Revenue Cycle Management Announces Executive Hire

Regent Revenue Cycle Management (Regent RCM), an independent division of Regent Surgical Health and a leading provider of innovative, cost-effective revenue cycle management services exclusively for ambulatory surgery centers nationwide, announced today that Erin Petrie has been named Director of Revenue Cycle Management.

“We are proud to welcome Erin to the team and believe she is uniquely qualified to drive Regent RCM during this phase of growth,” stated Chris Bishop, Chief Executive Officer of Regent Surgical Health. “Leveraging her background in healthcare operations, Erin is exceptionally well suited to lead our team of revenue cycle specialists while serving our clients and delivering solutions that outperform industry benchmarks.”

“Regent RCM is at the forefront of the industry and I look forward to working with such well-respected health care innovators and leaders,” said Petrie. “I am excited to be leading this dynamic team as we deliver so much more than billing and collections, namely exceptional service and solutions that define protocols and best practices for the industry.”

Prior to joining Regent, Petrie served as Surgical Services Business Manager for Oaklawn, Ill.-based Advocate Christ Medical where she managed revenue cycle and streamlined operations and staffing. She graduated from University of Illinois in Champaign and is completing an MBA from Indiana Wesleyan University. Additionally, she completed Project Management Training (PMI) and is a certified Lean Six Sigma Green Belt Practitioner.

Regent RCM’s services optimize ASC workflow and processes, and generate analytics and real-time dashboards that are critical to assessing an ASC’s financial health. Regent RCM consistently outperforms industry benchmarks allowing ASC managers to focus on high-value activities.

Beckers

Join Regent RCM at Becker’s Annual Meeting: The Business and Operations of ASCs

Regent Revenue Cycle Management is counting down to the 23rd Annual Meeting: The Business and Operations of ASCs hosted by Becker’s ASC Review.

Taking place Oct 27-29 at Chicago’s Swissotel, the conference offers attendees over 100 sessions, and features over 200 total speakers including physicians and ASC administrators speaking on a variety of topics. All told, more than 1,000 attendees are expected at the event, which focuses on business, clinical and legal issues faced by ASCs.

Our own Michael Orseno, VP of Revenue Cycle at Regent RCM, will present “Regent RCM’s Nine ASC Revenue Cycle Benchmarks to Know and How to Improve Each of Them,” on Friday, Oct. 28, at 4:05 p.m.

“Now more than ever, it is crucial for ASCs to optimize their revenue cycle,” says Orseno. “And until now, there wasn’t a comprehensive list of ASC-specific benchmarks, and how they should work in unison. We solved that challenge for our industry and we’re looking forward to a great exchange with center leadership. We will focus on the nine benchmarks themselves, and we’ll also go deeper and discuss how outside forces impact the numbers, how the benchmarks work together, and when the numbers lie.”

Please stop by booth 27S to receive your conference gift. We look forward to seeing you!

For more information on the conference and registration, click here. To learn more about ASC-specific revenue cycle benchmarks, click here to access Regent RCM’s video and webinar series, including instructions on how to calculate and measure what Orseno refers to as “the great lie detector,” the net collection rate.

To download your copy of Regent RCM’s white paper, Using ASC-Specific Benchmarks to Assess Revenue Cycle Healthclick here.

Regent RCM Logo

Regent Revenue Cycle Management Expands Service Infrastructure; Ensures Dedicated Staffing

Regent Revenue Cycle Management (Regent RCM), a leading provider of innovative, cost-effective revenue cycle management services exclusively for Ambulatory Surgery Centers (ASC) in the U.S., announced today that the company is investing in new talent to provide seamless service delivery to a growing customer base.

The company has hired Ivette Gomez to serve as Revenue Cycle Specialist.  In this role, Gomez will handle billing, payment posting, and accounts receivable for her surgery center, while delivering high-value and high-touch customer service to ASCs.

“Dedicated staffing is essential to achieving patient satisfaction and revolves around a team that possesses an all-inclusive knowledge of the revenue cycle,” said Michael Orseno, Regent RCM Vice President. “Ivette is a wonderful addition to our team and I’m certain her contribution will benefit our clients and enable us to continue to outperform industry benchmarks.”

Gomez will be responsible for a center in the Southeast. She previously served as Senior Reimbursement Specialist at Midwest Orthopaedics at Rush. In this position, Gomez followed-up on outstanding claims and performed reimbursement audits to ensure payments matched contracts and fee schedules.

“I am pleased to begin my new career at Regent RCM,” said Gomez. “There is an incredible team in place, and I’m truly excited to share ideas with them. Together, we will continue to provide the best solutions for our centers and their patients.”

Regent RCM’s services optimize ASC workflow and processes, and generate real-time analytical dashboards that are critical to assessing an ASC’s financial health. Regent RCM consistently outperforms industry benchmarks allowing ASC managers to focus on high-value activities.

ASC Revenue Cycle Management

Regent Revenue Cycle Management Spearheads Benchmarks to Assess Surgery Center Revenue Cycle Health

New white paper defines nine metrics centers can customize, deploy, and measure to improve performance.

Regent Revenue Cycle Management (Regent RCM), an independent division of Regent Surgical Health and a leading provider of innovative, cost-effective revenue cycle management services exclusively for ambulatory surgery centers (ASCs) in the United States, today released a white paper outlining nine ASC-specific benchmarks to accurately and consistently assess the health of a surgery center’s revenue cycle.

“One of the toughest challenges for surgery center leadership is determining if their revenue cycle is healthy,” said Regent RCM Vice President Michael Orseno. “Our new white paper gives ASC leadership more visibility into that performance, and to help them understand how numbers can be improved, why they might fluctuate, and how they can often be misleading. Using our benchmarks, ASCs can accurately measure revenue cycle health, and ultimately, locate every dollar they are entitled to.”

Lacking standardized revenue cycle measurement tools, specific to ASCs, leadership leaned on hospital or physician practice metrics. Given the differences in payer mix, case mix, and contracts, those metrics not only caused confusion, they failed to provide the assessment tools centers needed to be successful and to compete in an increasingly competitive healthcare market. Regent RCM’s white paper outlines nine critical metrics that centers can customize, deploy, and measure to gauge their financial health.

“Many of these metrics, such as Days Outstanding and Clean Claims Percent, are certainly familiar, but centers can’t currently use them as benchmarks because they don’t know what the gold standard should be for their case-mix and contracts,” said Orseno.

An important theme of this paper is how the nine benchmarks relate to each other. “Until now, center leadership might question how their center’s revenue cycle could be performing poorly when its Days in A/R are under 30. The numbers often lie, and these benchmarks can pinpoint the problem areas,” added Orseno.

Among the nine metrics is a benchmark for the optimal number of full-time business office employees per 1,000 cases. The exclusive metric was developed by Regent RCM after it mined data from ASCs for several years. “Surprisingly, we found that busier centers are often more efficient,” stated Orseno.

The white paper also features examples of ASCs where the application of the benchmarks is already improving revenue cycle management. An out-of-network center in the southeast, for example, learned first-hand the impact Regent RCM’s benchmarks have on improving financial health. Since working with Regent RCM, the center has become more efficient in A/R. The center in March 2016 shattered a trio of records, achieving 42 days in A/R, $895,590 in collections, and at 26.3%, its lowest percent of outstanding accounts in A/R over 90 days.

To download the free white paper, click here.

About Regent Revenue Cycle Management

Regent Revenue Cycle Management (Regent RCM), an independent division of Regent Surgical Health, is a leading provider of innovative, cost-effective revenue cycle management services exclusively for ambulatory surgery centers throughout the United States. Regent RCM harnesses Regent Surgical Health’s 15 years of ASC industry expertise, allowing Regent RCM to consistently outperform industry benchmarks. To learn more visit www.regentrcm.com or join the conversation via Twitter.

Becker's ASC and Spine Review

Join Regent RCM in Chicago at Becker’s Annual Spine, Orthopedic and Pain Management Conference

Regent Revenue Cycle Management (RCM) is counting down to the 14th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine conference hosted by Becker’s ASC Review.

Taking place June 9-11 in Chicago, the conference offers attendees a variety of sessions featuring 131 physicians, primarily spine surgeons, covering a spectrum of topics ranging from Current Issues in Spine and Pain Management to Developing a Spine Program at an Ambulatory Surgery Center (ASC). In total, more than 215 speakers will cover 117 sessions during the three-day event.

Several sessions that will be of particular interest to ASC billing and collections staff include:

  • Key Concepts to Improve the Profitability and Outcomes of Spine Programs – Thursday, June 9, 2:40 – 3:15 p.m.
  • Bundled Payment for Spine and Orthopedics – Thursday, June 9, 2:00-2:35 p.m.
  • The Changing Healthcare Environment, Implications of Medicare and Impact on Commercial Payor Contract Negotiation for Spine, Orthopedics and Pain Management – Thursday, June 9, 2:40-3:15
  • Tough Coding and Billing Issues for Spine and Pain Management – Friday, June 10, 1:05-1:50
  • Bundled Payments in Self-Insured and Self-Pay Patients – Friday, June 10, 1:55-2:35.

For more information on the conference and registration, download the brochure here.

Visit Regent RCM at booth #7 to find out more about turnkey ASC billing and collections services and how Regent RCM’s services consistently outperform industry benchmarks allowing surgery center leadership to focus on high-value activities. Click here to contact a member of the Regent RCM team to learn more.

The Center for Specialized Surgery

Regent RCM Awards 2016 ASC Business Office Manager of the Year

Rachel Caksackkar from The Center for Specialized Surgery (TCSS) in Ft. Meyers, Florida, received the 2016 Regent RCM Business Office Manager of the Year award at the Regent RCM-hosted Business Office Manager Conference, held recently in Lafayette, California.

Ambulatory Surgery Center (ASC) business office managers throughout the country attended the conference, which highlighted insights and information from leading speakers in the industry.

“Rachel exemplifies the best qualities in an ASC business office manager,” said Regent RCM Vice President Michael Orseno. “Her positive attitude, tenacity, attention to detail, and dedication play a major role in the success of her facility. We’re thrilled to recognize her as this year’s winner.”

Orseno added that of the candidates in consideration for this award, Caksackkar was chosen because her work, in conjunction with the Regent RCM team, contributed to markedly improving revenue cycle metrics for TCSS in the past year.

Among her duties, Caksackkar handles patient financial counseling to estimate out-of-pocket costs in advance of procedures. She reviews scheduled cases against anticipated reimbursement to protect the facility against revenue loss, and she works diligently with the Regent RCM team on turning around unbilled cases, such as instances where physicians did not dictate in a timely manner or additional information was needed for coding or billing.

“It’s an honor to receive this award from Regent RCM in acknowledgment of the work I do on behalf of The Center for Specialized Surgery,” said Caksackkar. “Partnering with the specialists at Regent RCM has been a great experience and our collaborative approach makes all the difference in our success.”

Are you a business office manager or center administrator actively researching RCM solutions? Click here to access a free ROI calculator to estimate your annual financial improvement through outsourcing RCM or click here to speak with a member of our team.

Regent revenue cycle management corporate values

RISE Corporate Values: Efficiency

Regent RCM’s cultural values aren’t just lip service; they are a starting point for all team member’s actions and decisions. Our RISE values not only lead individuals to reach their professional potential, they provide distinctly different service and support to our ambulatory surgery center partners.

RISE stands for:

Respectful Caring

Demonstrating compassion toward all stakeholders.

Integrity

Being true to what we believe in, doing what we say we will do and adhering to our commitments.

Stewardship

Responsibly utilizing and developing our people, property, and assets while fostering a safe and secure environment.

Efficiency

Appropriately identifying, selecting, and managing all resources to ensure excellent clinical and financial outcomes.

This is the final post in a series about our RISE values and their importance; in earlier posts, we talked about Respectful Caring, Integrity and Stewardship. In this post, we’ll discuss the last RISE value: Efficiency.

Efficiency

Selecting and utilizing ideal resources is critical to ensuring successful financial and clinical outcomes for Regent RCM and its clients. We are constantly evaluating the technology and processes we use, looking for more cost-effective tools, methods, and system automation. This proactive approach identifies problems and finds solutions early on, as well as helps our team manage time and prioritize work efficiently.

Regent RCM’s services optimize workflow and processes for ambulatory surgery centers, in addition to providing them with invaluable analytics and real-time monitoring and management.

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