To maintain clinical excellence and efficient administrative operations, your ambulatory surgery center must have strong revenue cycle management. Regent RCM partners with ASCs across the country to identify revenue cycle obstacles and implement long-term solutions. In a series of blog posts, we are highlighting some of the common revenue cycle problems ASCs encounter and how to fix them.
Revenue cycle challenge #4 is: staffing.
Effective revenue cycle management requires advanced knowledge, ongoing training, and best-in-class technology. Many ASCs don’t have the resources to hire coding and billing experts or to invest in process automation technology like management information systems, clearinghouse software, and reporting and analytics platforms.
Your in-house employees have many other responsibilities requiring their attention — particularly those that are focused on improving patient care. But staffing shortages or lack of collections expertise can lead to significant revenue cycle problems that result in lost revenue, and penalties, including: coding errors, denied claims, increased days in AR, outstanding balances, overlooked appeals.
Partnering with a provider that specializes in billing and collection services and offers dedicated staffing can help your ASC overcome this prevalent challenge. You work with a team that has comprehensive knowledge of the revenue cycle and is committed to improving the financial health of your ASC. The primary benefits of outsourcing staffing for revenue cycle management are:
- Expertise: Staff assigned to your account have years of industry experience across the entire revenue cycle.
- Consistency: Redundancy is built in, so you have access to a team of highly trained experts, all of whom keep up with the latest industry changes and technology updates.
- Service: Billing specialists take a consultative approach to guide patients through the billing process, providing financial counseling and answering questions to improve both patient satisfaction and collections.
Regent RCM’s dedicated staffing model provides a 1:1 staffing ratio for greater communication and accountability. Our staffing includes: an insurance verification/patient financial counselor, managers who oversee payer issues and monitor daily performance, a denial management team that handles complex appeals and denials, and a patient account representative that focuses on customer service and patient satisfaction.
We foster a values-driven culture based on the R.I.S.E. program that guides how we lead our team. R.I.S.E. 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: Responsibility to properly utilize and develop our people, property, and assets while fostering a safe and secure environment
- Efficiency: Appropriate identification, selection, and management of all resources to ensure excellent clinical and financial outcomes
Learn more about the benefits of Regent RCM’s dedicated staffing model.