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.

ASCA 2015 Conference Regent RCM

Regent RCM is Live from ASCA 2015

This week, Regent RCM’s leadership team headed down to Orlando, Fla. to participate in ASCA 2015, the premier meeting for those in the ambulatory surgery center (ASC) industry.

ASCA 2015 has been a great opportunity for Regent RCM’s Director, Michael Orseno, Director of Business Development, Ed Tschan and Revenue Cycle Coordinator Leslie Favela 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.

There have certainly been some conversational themes our team has noticed since they arrived at the conference. Some of the key discussion points have included:

Regent RCM will be exhibiting at ASCA 2015 through the end of the conference so be sure to stop by booth #413 to say hello and learn more about how outsourcing RCM might be the right decision for your ASC’s billing and collections needs.

Maria Murguia Regent RCM

Meet the Team | Maria Murguia

Over the next few months, we will be introducing the many members of our team who make Regent RCM so successful. In our last post we met Revenue Cycle Specialist Gabriela Alcaraz. Today, let’s get to know:

Name: Maria Murguia

Hometown: Chicago, IL

What do you do at Regent RCM? Revenue Cycle Specialist

How long have you been working at Regent RCM? 9 years

What is your favorite part about working here? I work with a great team of people. Performing the multiple revenue cycle functions is always easier when you have their support, enthusiasm and commitment. Collaboration is key!

What has been your greatest professional achievement? I have been awarded several RISE awards for my exceptional customer service.

What is one fun fact about yourself your co-workers don’t know? Well this is no secret; I’m a big Disney fan!

medical billing and collections team

The Benefits of Outsourcing RCM: Smart Staffing and Avoiding the Need for Succession Planning

Over the course of March, we are diving deep into four key benefits of outsourcing revenue cycle management (RCM) for ASCs. Last week, we looked at the ways in which RCM providers can bring workflow and process optimization using best-in-class technologies to ASCs. This week, we will examine how outsourcing RCM provides ASCs with smart staffing solutions, and helps them avoid the need for succession planning.

For ASCs, an experienced billing and coding staff with built in redundancies is not just a luxury, it is a necessity. Hiring inexperienced staff or becoming dependent on just one or two good people could end up costing your center hundreds of thousands of dollars.

It can be incredibly difficult to find someone who can be an immediate contributor, especially if your ASC is in a rural area. You are likely to be in a position where your only choices are to hire someone with no experience or someone with experience only in a hospital or physician’s office setting. This means they will need to work on a fairly steep training curve, during which time your ASC could be losing thousands of dollars. There are a number of reasons for this problem, not least of which is that getting together the pay and benefits necessary to attract experienced professionals in this department may not be a priority for your center.

RCM providers have the resources to pay well, provide good benefits, and situate themselves in desirable locations. They know how to find and hire the best of the best, and often have a pipeline of eligible applicants waiting for a spot to open up. And while ASCs don’t necessarily get to choose their location- rural Virginia needs healthcare too- they can still hire, through outsourcing, talented individuals that may not be up for a big move.

Another issue faced by ASC billing and collections departments is that of succession and contingency planning. Your ASC may have a talented professional working on your billing, but what if he/she goes on vacation? Will the entire department be put on hold for a week? It is also worth considering what will happen when that person inevitably retires. Not only will you be faced with staffing issues, but the outgoing staff member may pass any bad habits they have onto the new staff member during training. If they are inexperienced, it will be very difficult for them to spot mistakes, and practices that leave money on the table for your ASC will continue.

A good RCM provider will have dedicated professionals assigned to your ASC, with redundancies in place so billing isn’t halted- no matter what happens. This also means that you have someone dedicated to your center’s billing and collections, and that person has a whole team behind them, providing support and resources. Requirements are constantly changing in the field, especially with upcoming ICD-10 changes, and an RCM provider will be on top of that. They will keep staff updated as well, and provide them with all required employee development and training.

As ICD-10 and other regulatory changes make billing and coding a more difficult and exacting process, it is increasingly important to have the right team, both internal and external, in place to ensure money isn’t being left on the table.

8 steps to prepare for ICD-10

WHITEPAPER: 8 Steps your ASC Must Take to Prepare for ICD-10

ICD-10 is coming, and it won’t wait for your ambulatory surgery center (ASC) to get prepared. In fact, we’ve all had ample time to prepare. But due to frequent delays in implementation, and the massive amount of time and money it would take to implement on an individual level, most of the healthcare community has put it off.

In order to get your center prepared, we have compiled insights on the 8 critical steps your ASC should take to prepare for ICD-10.

Complete the form to download the white paper:


ASC Nurse evaluating revenue cycle

The Benefits of Outsourcing RCM: Using Best-in-class Technology for Process Automation

Over the course of March, we are diving deep into four key benefits of outsourcing revenue cycle management (RCM) for ASCs. Last week, we examined the importance of leveraging the expertise offered by RCM providers in billings and collections, especially in light of ICD-10. This week, we take a closer look at the ways in which RCM providers can bring workflow and process optimization that utilizes best-in class technologies to your ASC.

There are three types of technologies RCM providers use to optimize the billing and collection process:

  • Management Information Systems (MIS) are the lifeblood of your ASC Business Office. With the right MIS, you can do everything from inventory management to insurance verification and patient billing to surgical scheduling. Some advanced MIS use workflow which enables end users to work from real-time tasks assigned by management, ensuring the greatest level of efficiency. With these systems in place, ASCs can maximize their profitability, lower AR days, and achieve faster reimbursement.
  • Clearinghouse software, aside from sending claims, can also provide claims management, electronic remittance advice (EOBs), eligibility verification, and patient estimation. Users can verify a Patient’s insurance benefits, determine their co-pays, deductibles, co-insurances, and out of pocket maximums. This will accurately estimate the patient’s responsibility, allowing us to financially counsel the patient prior to the date of service, resulting with increased upfront payments and fewer outstanding balances. A clearinghouse that allows users to create customized edits, so unclean claims are kicked back before being sent to the payer, will certainly help in reducing AR days. Clean claims are vital for a healthy revenue cycle; the more efficiently you can process claims, the faster you can get your payment.
  • Reporting and Analytics are the key to constant improvement. The deeper insight you have into the way your ASC operates, the more opportunities you have to make changes and optimize outcomes. An analytical tool that will pull data from your information management system and allow you to slice and dice data in any number of ways yielding useful information is key. A real-time dashboard will give you real-time access to metrics of your choice, and warn you of RCM issues.

But what’s to prevent an ASC from simply going out and buying these tools directly? There are a number of benefits of using an RCM provider to update your systems and integrate new technologies.

First, choosing an RCM technology system is a complicated process. There are many options available in the market, all at different price points, offering very similar benefits. How can anyone be expected to know which one is right for their particular ASC? RCM providers have a deep understanding of not only the tools available, but how they work together, and for which ASCs they work best. They’ve tested, vetted and priced them out so you don’t have to.

Price is another factor here. If your ASC were to go out and purchase this technology, it would cost far more than it would to get it from an RCM provider. They have determined the best tools available, and use them for many clients, receiving heavily discounted rates that they are able to pass along to their clients.

Most importantly, though, is that RCM providers have an intimate knowledge of the systems and their complexities. As we mentioned in the last article, one of the biggest benefits of outsourcing RCM is having pre-trained staff who are already familiar with technology that typically involves a steep learning curve.

But it goes beyond that; they know which tools work well together and which ones work in silos. They have enterprise dictionaries already built for the MIS, so that only Facility specific information needs to be inputted, i.e. doctors, patients, inventory, and chargemasters.  Their familiarity with the systems extends to implementation as well. Implementing new technology at an ASC typically takes more than three months. With an RCM partner, it will take as little as 30 to 60 days.

As ASCs and other health systems scramble to keep up with the changing healthcare landscape, it is imperative to have the latest technology, and a keen understanding of how to use it. Without these essential tools, your ASC stands a good chance of being left behind.

revenue cycle review

The Benefits of Outsourcing RCM: Leveraging Expertise in Billing and Collections

Last week, we explored the overall benefits for ASCs to outsource their revenue cycle management, identifying four key benefits. Over the course of March, we will dive deeper into each of these outsourcing benefits. This week, we take a closer look at the importance of leveraging expertise in billing and collections, especially with coding changes being brought on by ICD-10.  

With the Affordable Care Act, Medicare and Medicaid payment bundling, and the specter of ICD-10 looming over every health system in America, the revenue cycle management landscape is changing quickly. Most ASCs have struggled to keep up. A lack of time, funding and resources has made it nearly impossible for ASCs to train their limited staff at the level necessary for in-house RCM to be cost effective.

In addition, ASCs often have a single administrator managing not only billing and collections, but also a multitude of other center priorities that takes away focus from effective RCM.

Revenue cycle management outsourcers, however, specialize exclusively in developing, executing and refining billing and collection strategies, and are therefore able to invest in enabling their staff with the most up to date tools and technologies. Doug Brown, managing partner of Black Book Market Research, which has undertaken a massive study on the RCM outsourcing trend, said, “”RCM outsourcers…have the staff and technology expertise to integrate patient billing, collections, accounts receivables, and grievances as ICD-10, and value-based payment models present even more potential for internal inefficiencies …”.

ICD-10 will require training that goes above and beyond the typical professional development provided by ASCs. It requires staff that is immersed in the world of coding, and ideally, certified specifically in ICD-10. With an RCM outsourcing company, every coder you interact with will be well-versed in not just ICD-10, but all the latest terminologies and coding requirements. In addition to excellent training, RCM outsourcers are equipped with the most advanced facilities, systems, and processes.

Other regulatory changes over the years have made billing and collections a more complex process. Billers now must have a wide range of competencies, including medical expertise and the ability to manage denials. Most ASC billing staff are ill-equipped for the challenges they are faced with today, and ongoing training would require significant time and financial commitments.

Perhaps most importantly, RCM outsourcers have experience. They’ve encountered almost everything that could go wrong, and they’ve learned how to handle virtually anything that might come up. They are experts in the intricacies of billing, denials, and coding; everything an ASC needs to receive payment for their services fully and promptly.