Q2 Award Winners Smiling

Congratulations to our Q2 Award Winners

Regent Revenue Cycle is pleased to present our 2019 Distinguished Performance Q2 award winners. Each recipient met or exceeded all Regent gold standard performance benchmarks including:

  • A/R follow up
  • Decrease in % of A/R over 90 days
  • Highest quality audit results for Q2

Our revenue cycle specialists continue to deliver excellent quality service in the industry’s competitive field.  

“Everyone is so proud of this group of employees,” said the RCM Management team. “The Regent gold standard performance benchmarks are extremely difficult to meet, yet alone exceed, and these individuals went above and beyond to deliver excellence. In addition to reaching or surpassing these goals, this group exemplifies our R.I.S.E. values of Respectful Caring, Integrity, Stewardship, and Efficiency that we all strive to reach.” 

Congratulations Gabriela Alcarez, Ariana Treto, Denise Soriano, Lila Casas and Angela Valentin. We look forward to seeing what you all accomplish in Q3.

Regent RCM Releases Updates to ASC-Specific Benchmarks

Since introducing nine ASC-specific revenue cycle management benchmarks in 2017, Regent Revenue Cycle Management (Regent RCM) has seen the ambulatory surgery centers (ASCs) that use them gain a much better handle on their financial health. A new white paper offers insights from that experience and provides an update on Regent RCM’s metrics.

“ASC-specific measurement tools simply did not exist before we authored them,” says Regent RCM Director of Revenue Cycle Management Erin Petrie. “Having the tools and intel to gauge performance across all functions of the revenue cycle has been a game changer for center leadership.”

Regent RCM, a leading provider of innovative and cost-effective revenue cycle management services exclusively for ASCs, developed the initial ASC revenue cycle benchmarks with a plan to refine them as key learning emerged. The white paper updates the original benchmarks based on two years of data and insights and adds a new benchmark: Accounts Receivable Follow Up. This metric  goes deeper than overall center performance to provide a true measure of individual biller/collector performance.

Since early 2017, ASCs tracking the benchmarks have been especially successful against the benchmarks for Clean Claims and Denials.

“We’re increasing the Clean Claims benchmark in 2019 from 97% to 98% based on experience,” Petrie says. “We use a clearinghouse to provide us with data on whether or not our claims have all of the correct information to go out to the payers. And if they don’t, we’ve created an expectation for our staff to fix them in a timely fashion and get them out. That process has helped us make sure all of our claims go out clean, but in addition, our staff is now more aware of the issues, so they don’t make those omissions or errors in the first place.”

Similarly, since beginning to track denials and to shoot for a benchmark of less than 10% of claims denied two years ago, Regent RCM’s centers are now exceeding that gold standard. As a result, the benchmark is changing in 2019 to a gold standard of less than 5%.

The Regent RCM ASC Revenue Cycle Benchmarks have been embraced as a critical measurement tool to help surgery centers accurately measure revenue cycle health, and ultimately, account for every dollar they are entitled to. Regent RCM’s gold standards will continue to evolve as the Regent RCM team culls insights from the data and shares them to educate center business staffs, negotiate with payers, and assist ASCs around the country in receiving the most revenue for care that they can.

To learn more, download the free white paper 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.

ASC Revenue Cycle Benchmarks Defined

Regent RCM Defined ASC Revenue Cycle Benchmarks

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.