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 best practice

Becker’s ASC Review Highlights Best RCM Practice Recommendations

There is more to the revenue cycle than money – equally important are operational efficiency and patient relations.

A recent article in Becker’s ASC expanded on that notion and shared insights and best practices gleaned from a presentation led by Michael Orseno, revenue cycle director for Regent Revenue Cycle Management during Becker’s 22nd annual meeting.

During the presentation, Orseno described how the linear process between front office and back office has evolved. And today, explained Orseno, the feedback mechanism between the two is what defines a revenue cycle.

“In the past, the back office would struggle with issues from the front office, so for example, if they would transpose payer identification numbers or not verify the right demographic or insurance information, it would cause headaches for the back end. So this whole revenue cycle piece was invented and defined,” stated Orseno.

Revenue cycle management has come a long way.

From automating insurance verification prior to a patient visit to researching denials to determine if they can be re-billed after a visit, click here to read pre-visit and post-visit best practice recommendations.

If you’re ready to learn more about outsourcing RCM, register for an upcoming webinar, “Gaining More Control and Efficiency by Outsourcing RCM.”

ASC Billing & Collections

Regent RCM Client Makes a Case for Outsourcing Billing Services in an Interview with Becker’s ASC Review

Larry Parrish, administrator of Illinois Sports Medicine & Orthopedic Surgery Center (ISMOSC), explained why his center decided to outsource revenue cycle management (RCM) during a recent Q&A session with Becker’s Healthcare. He listed space and expertise as the main factors.
 
“If we had the physical space to accommodate the billing activity, we might have seriously considered it. However, accurate and effective billing is a very complex process, and you want to make sure you have very capable individuals providing those services.”
 
Parrish also lists eliminating the headaches of staffing, training, managing, and covering for sick leave/vacation as reasons he decided to outsource. 
 
Naturally, the big question was, “In retrospect, was this the right decision for your ASC?”  For the answer, read the full interview in Becker’s ASC Review. Spoiler Alert: The answer is “Yes.”
 
Are you an ASC administrator and ready to learn more about outsourcing RCM? Register for an upcoming webinar, “Gaining More Control and Efficiency by Outsourcing RCM.”
Becker's ASC Review Conference

Regent RCM’s recap of the Becker’s ASC conference

Last week, Regent RCM’s leadership team headed to Chicago, Ill., to the Becker’s 13th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference & the Future of the Spine.

The Becker’s conference was a great opportunity for Regent RCM’s Director, Michael Orseno and Director of Business Development, Ed Tschan to network with other industry professionals and provide useful insight on how the benefits of outsourcing RCM can have positive long-term effects on a center’s financial health. Steve Taylor from ASCInsight was also on site to provide demonstrations of a real-time dashboard that monitors KPIs and assists with reporting and analytics.

There were certainly some conversational themes our team has noticed throughout the conference. Some of the key discussion points included:

  • Managed care contracting
  • Coding audits
  • How Regent RCM sets itself apart in the marketplace
  • Short-term revenue cycle needs and the flexibility and integrity needed to satisfy these needs
  • Constraints within an ASC that lead to a need for outsourced RCM, especially with AR days that are greater than 90 days

Becker’s proved to be a success for the Regent RCM team as we were able to provide valuable insight into how outsourcing RCM might be the right decision for your ASC’s billing and collections needs and the importance of reporting and analytics to your center’s financial health.

Becker's ASC Review Conference

Learn more about Regent RCM at the upcoming Becker’s ASC conference at booth #31

Regent RCM will be attending Becker’s 13th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference & the Future of the Spine in our hometown of Chicago, Ill., from June 11 through June 12, 2015. We look forward to Becker’s each year as an opportunity to network with those across our industry and provide fresh insights on revenue cycle strategy and best practices.

What are the benefits of outsourcing RCM?

Be sure to stop by Regent RCM’s exhibitor booth #31 at the conference to learn more about the benefits of outsourcing RCM for ASCs. We understand that maintaining a successful and healthy revenue cycle management strategy requires a great deal of time, resources and expertise. If your center cannot dedicate internal staff and resources to RCM, outsourcing may be a smart business move.

Learn about reporting and analytics

This is also an opportunity to discover the importance of reporting and analytics for your center. We are thrilled to have Steve Taylor from ASCInsight joining us to provide live demos during the conference. Steve will be demonstrating how you can configure a real-time dashboard for both financial and clinical key performance indicators (KPIs). He will also offer insight on creating and configuring customized reports and well as those that come standard with the platform.

Sign up a free business office audit

To determine the financial health of your center quantitatively and qualitatively and gain a better understanding of your strengths and opportunities, be sure to sign up on site for a free business office audit that focuses on observations, reimbursement, coding and staffing.

To schedule an on-site appointment, contact Regent RCM Director of Business Development Ed Tschan at (312) 882-7228 or etschan@regentrcm.com.

ASC staff meeting revenue management

Regent RCM provides 3 ways ASCS can reduce costs for a stronger RCM strategy

Regent RCM recently spoke to Becker’s ASC Review to provide insight on how to reduce the costs related to an ambulatory surgery center’s business office. This includes everything from smart staffing practice management, which can become expensive quickly.

1. ASCs should invest in IT as information technology can lead to major cost savings over time. For example, electronic insurance verification and payment posting reduce the number of business office employees needed as well as lower one of the highest ASC expenses.

2. Another suggestion is to invest in a solid business office staff and hiring the best of the best for the job. Instead of hiring multiple people, an ASC can capitalize on one employee who can successfully wear more than one hat and manage numerous business office functions.

3. The third way to cut business office costs is to consider outsourcing RCM.

ASCs run on lean resources. Staff members wear multiple hats and revenue cycle management can easily slip through the cracks. The right RCM outsourcing provider can handle coding, billing and all of essential tasks related to revenue cycle to bring more money to the table.

To read the full story in Becker’s ASC Review, click here.

ASC Surgery

6 Tactics for ASCs to Survive in a Single Dominant Payer Market

As Seen In Becker’s ASC Review

Regent RCM Director of Managed Care, Andrea Woodell, discusses six tactics for ambulatory surgery center leaders to survive in a marketplace with one dominant payer.

1. Develop a strong relationship with the payer. Surgery center leaders should develop an excellent relationship at multiple levels within the insurance company. If the ASC does not have a designated managed care director, the administrator should be the point of contact for provider relations, while the scheduler can develop a relationship with the payer’s preauthorization department. The ASC’s medical director should also connect with the payer’s medical director to establish and reinforce the surgery center’s clinical excellence.

“If they don’t like you, they won’t help you,” says Ms. Woodell. “However, within all those relationships the surgery center should not lose site of the bigger picture, which is getting paid more. In addition, ensure claims are adjudicated within payer guidelines to avoid costly recoupments creating ill will towards the center.

2. Bring quantifiable cost data to the negotiating table. When entering into payer negotiations, provide objective documented cost information from your center. Go beyond the basics of providing invoices for implants. Have discussions regarding costs incurred to upgrade and maintain the physical plant, including items such as new lights for operating rooms, HVAC, or a new laser to add additional specialties that are currently seen at the hospital.

“If the dominant payer is not being equitable and covering costs, you can work with your local ASC association while respecting the confidentiality of the agreements,” says Ms. Woodell. “You can still have general conversations if they are not allowing procedures to be done in the outpatient setting. Demonstrate how ASCs are trying to broaden the scope of cases and relocate them to an outpatient setting.

3. Strive to be the best. Become the best clinical provider in the market and show payers you are achieving the best outcomes, highest patient satisfaction, employer preference and compliant Medicare reporting. If you can work with a large employer to provide better care than others in the marketplace, make sure the insurance company knows this preference.

“A great way to garner the payer’s attention is by having strategic employer groups advocate on your behalf,” says Ms. Woodell. “The payer’s customer is the company paying their premiums.”

The employers want their employees traveling a shorter distance, receiving better outcomes, recovering more quickly and missing fewer days of work. The decreased risk of infection and strong patient satisfaction at the ASC will also bolster employer preference.

“Get employers to advocate on your behalf. Surgeons can develop those relationships,” says Ms. Woodell. “It’s not just the workers compensation recipient, but all employees needing healthcare.”

4. Become the exclusive provider in your market. If your group can lock up a specialty within a certain geographic area, including key physicians and providing good outcomes, you have more leverage to negotiate better rates with the dominant payer.

“If you have proven outcomes for a unique specialty in the area, you can work with payers for a better rate,” says Ms. Woodell. “But your facility must have the ability to objectively document better outcomes, quicker return to work and higher patient satisfaction. Just saying these things doesn’t translate into improved reimbursement.”

5. Find the right location. If you are developing a new surgery center, the ideal location would be somewhere without significant ASC penetration. If you are locating or acquiring an ASC in a saturated market, don’t expect to see significant rate increases.

“If you are able to achieve any type of geographic isolation, that should be used to your benefit in negotiations with the dominant payer,” says Ms. Woodell. “I’ve seen single specialty groups in competitive markets that show they reduced subsequent office visits and achieved better outcomes successfully negotiate higher rates with notoriously difficult payers. This comes from having excellent clinicians and documentation.”

However, also understand how you are contributing to the single-dominant payer issue in the market. If you are negotiating good rates with the dominant payer, you’ll need to negotiate higher rates with other payers in the market, which can negatively influence the non-dominate payers’ growth.

6. Choose your partners carefully. It’s especially important in markets with one dominant payer to choose physician and administrative leaders who can positively influence your organization. This is also true for hospital and management company partners.

“Their leadership will greatly influence your ability to work with dominant players,” says Ms. Woodell. “If you’re looking for a hospital partner, chose one that has market penetration or a smaller hospital system leveraging geographic exclusivity.”

Physician leaders should be well-respected within the community with a reputation of clinical excellence and high patient satisfaction.

“Payers don’t want to work with a group that is generating patient complaints,” says Ms. Woodell. “You also want to work with physician leaders who can advocate on the surgery center’s behalf. They need to calmly and persuasively articulate the ASC’s needs at payer meetings.”

In today’s environment of shrinking payer reimbursements it is important to use every advantage to negotiate the best rates. Employing these 6 tactics will help you achieve that goal.