It is crucial for ambulatory surgery centers (ASCs) to have solid and transparent means of measurement and reporting to understand how the center is performing, where changes need to be made, and how to increase profitability.
Regent RCM brings our ASC-specific experience to bear as we take the guesswork out of tracking your center’s financial performance. Our team of Revenue Cycle Supervisors develop customized reports specific to your center.
Regent RCM has vetted and selected third party reporting software and our team has the expertise required to create reports aimed at detecting revenue cycle problems. Monitoring select ASC-specific benchmarks on a real-time management console allows our team to identify issues quickly, and resolve them as soon as possible.
A/R Over 90 Days
We take contractual write-offs at the time of charge entry; creating a cleaner, more accurate benchmark. Our gold standard is 25%.
Net Collection Rate
There will always be some bad debt due to patients unable to pay, or a denial if you didn’t get pre-authorization, but our gold standard is greater than 97%.
The sooner patients get the statement, the faster payment is received. We run statements once a week, so the gold standard is 5 days or less.
Claim Lag/Charge Lag
The gold standard for charge lag is same day of service – 48 hours. If it goes beyond it is time to look at dictation, coding, or invoicing processes.
Regent RCM dashboards monitor select benchmarks in green, yellow and red ranges, so it is immediately known when any aspect of a center’s revenue cycle becomes problematic. Based on the information, adjustments are made to correct course, boosting the partner center’s bottom line and improving the ASC’s financial performance.