Becker’s 25th Annual Meeting: What we Heard on the Tradeshow Floor

Regent RCM’s leadership team recently attended the Becker’s 25th Annual Meeting: The Business and Operations of ASCs.

While there was a plethora of great information to take away from the show, Director of Revenue Cycle Management Erin Petrie  picked up on a few common pain points among center leadership, including:

  • The increasing difficulty of negotiating payer contracts
  • The need for ASC-specific revenue cycle benchmarking data
  • The rise of bundled payments – and the race to execute successfully

We drilled down on two of those issues in our latest guide,  3 Revenue Cycle Audits That will Improve Collections and Lower Days in A/R, where we identified inefficiencies and mistakes that put ASC financial performance at risk and shared best practices around denied claims, improving coding accuracy and payer contract adhesion.

If you’re interested in learning more, click here to stay abreast of ASC news via our blog.

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’s Michael Orseno to Speak at Becker’s Second Annual CIO/HIT + Revenue Cycle Conference

Regent Revenue Cycle Management (Regent RCM) has been selected to participate in this year’s CIO/HIT + Revenue Cycle Conference hosted by Becker’s.

Michael Orseno, Vice President of Revenue Cycle at Regent RCM, will contribute to a timely panel discussion, Addressing High Deductible Patient Plans and the Evolving Role of Patients Becoming Payers, from 1:00 p.m. – 1:45 p.m. on Thursday, July 28.

“More and more, patients are responsible for handling most of the financial responsibility for their medical care,” said Orseno. “Moving forward, it is critical for revenue cycle leaders to focus on high deductible patient plans, and understand how these plans impact the revenue cycle.”

The conference takes place July 27-28 at the Fairmont Hotel in Chicago. Attendees can sit in on a variety of sessions, featuring 175 experts and revenue cycle leaders. Overall, there will be nearly 100 sessions over the two-day conference, with three full CIO/Health IT tracks, as well as three full revenue cycle tracks. Topics include:

  • The Transformation from Volume to Value and the Constant Movement and Impact on the Revenue Cycle—Wednesday, July 27, 8:05 a.m. to 8:45 a.m.
  • Adapting Best Practices for the Revenue Cycle– Wednesday, July 27, 8:50 a.m.-9:30 a.m.
  • Key Thoughts on Improving Revenue Cycle– Wednesday July 27, 9:50 a.m.-10:30 a.m.
  • The Biggest RCM Pitfalls– Thursday, July 28, 9:45 a.m.-10:25 a.m.
  • Post ICD-10—How is the Revenue Cycle Performing? – Thursday, July 28, 1:00 p.m.-1:45 p.m.

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

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.

Becker's Hospital Review

Regent RCM Director to Speak on Panel at Becker’s CIO/HIT + Revenue Cycle Summit

Michael Orseno to speak about Revenue Cycle Management

CHICAGO, July 20, 2015 –Michael Orseno, Director of Regent RCM, an independent division of Regent Surgical Health and leading provider of quality, cost-effective revenue cycle management services exclusively for ambulatory surgery centers, will speak on a Revenue Cycle Management Panel at Becker’s CIO and Revenue Cycle Summit on July 21st at 9:00 a.m. at the Ritz Carlton in Chicago, Illinois. The conference brings together the best minds in the hospital and healthcare business to talk about issues in the industry.

“I am excited for this opportunity to educate health professionals how ambulatory revenue cycle differs from hospitals,” said Orseno, who brings more than 14 years of RCM best practices and knowledge to the panel. “Being on the panel with esteemed industry colleagues, allows us to explain best billing practices for ambulatory revenue cycle management, how it can improve patients and physicians experience and increase revenue.”

The Becker’s Hospital Review Annual CIO/HIT + Revenue Cycle Summit is an exclusive conference that brings together hospitals and health system chief information officers and IT executives to discuss the role of CIO, social media, data analytics, mobile health, EMR issues and health IT issues. The conference will take place on July 20 from 2:00 p.m. to 7:00 p.m. CT and July 21 from 9:00 a.m. to 6:30 p.m. CT.

For more information on the event and speakers, visit hwww.beckershospitalreview.com/cio-health-it-summit/.

About Regent RCM

Regent RCM, an independent division of Regent Surgical Health, is a leading provider of quality, cost-effective revenue cycle management services exclusively for ambulatory surgery centers throughout the United States. Regent RCM harnesses Regent Surgical Health’s strong ASC industry expertise, allowing Regent RCM to consistently outperform industry benchmarks. To learn more about Regent RCM, visit http://regentrcm.com/.