One of the toughest challenges for any ambulatory surgery center (ASC) leader is determining if your center’s revenue cycle is healthy and performing well.
Industry metrics can be clouded by complications such as payer mix, case mix and whether or not the center is in-network. Many centers have resorted to using hospital or physician metrics to try to gauge success, but they are not always equivalent and can cause confusion.
Regent RCM Vice President Mike Orseno recognized the need for standardized measurement native to the ASC community. Alongside the Regent RCM team, he developed a series of nine core ASC revenue cycle benchmarks aimed at dispelling myths and outlining which benchmarks stand on their own and which ones are affected by outside forces. Importantly, the series includes instruction on how to calculate or measure what Orseno refers to as the great lie detector, the net collection rate.
Click here to watch the first video in the ASC Benchmark series and learn more about the metrics that gauge the health and success of an ASC’s revenue cycle.