The Myth: Outsourcing revenue cycle management (RCM) can diminish an Ambulatory Surgery Center’s control.
The Truth: Outsourcing RCM can actually increase an ASC’s control by utilizing experienced, dedicated staff focused on creating processes built around transparency and communication.
The Evidence: When an ASC performs billing and collections internally, there oftentimes is not a dedicated full-time staff member whose sole focus is on revenue cycle. They may be assisting with reception duties, dealing with medical staff, troubleshooting IT issues, or even helping triage patients. However an outsourcing company provides a dedicated specialist that is focused on using technology, automated workflows, advanced analytics, and overall industry expertise to help the ASC gain more control and prevent costly mistakes.
Utilizing best-in-class technologies for workflow and process optimization along with reporting and analytics is critical to the success of an ASC, especially when it comes to billing and collections. Outsourcing RCM can give an ASC access to, and oftentimes discounts on industry-leading technologies like a management information system (MIS) designed exclusively for ASCs and real-time management consoles. An industry-specific MIS is necessary for integrating core workflows including surgical scheduling, insurance verification, inventory management, patient billing and collections. Uploading payer contracts into the MIS allows the facility to run a Contract Variance Report which shows all cases that were completed and what the center is expected to receive for payment. This provides realistic estimates of net revenue and increasing control of revenue cycle management. Real-time management consoles with custom metrics relevant to a particular ASC can also be built which provides increased transparency between the ASC and the RCM Company.