quarterly award

Congratulations to our Q1 Award Winners

Regent Revenue Cycle is pleased to present our Distinguished Performance Award recipients for Q1. Each recipient met or exceeded all Regent Gold standard performance benchmarks including:

  • AR follow up
  • Decrease in % of AR over 90 days
  • Highest quality audit results for Q1

Our revenue cycle specialists provide consistent high-value and excellent customer service to our clients and are dedicated to delivering exceptional quality.

“The whole team is proud of this group of employees,” said Vice President of Revenue Cycle Management, Erin Petrie. “These individuals go above and beyond to deliver excellence and exemplify our R.I.S.E Values: Respect, Integrity, Stewardship, and Efficiency.”

Congratulations Rebecca Johnson, Dacia Aviles, Mayra Casco, Lorena Gonzalez, Celia Kulis, Lilia Casas, Maria Murguia, Gabriela Alcaraz, and Angie Valentin.

Updated Gold Standard: A/R over 90 Days

In 2017 we introduced ASC-specific benchmarks. And since then, we have routinely leveraged data and industry trends to review and revise the benchmarks, making updates in order to improve our own processes and approach and ensure our centers capture all the revenue they are entitled to.

In 2020, we’re updating A/R over 90 Days: today, our gold standard is below 25%.

“If a center is getting lower than 25%, it would likely mean that someone is taking write-offs versus exhausting appeals to those claims,” explained Regent RCM Vice President Erin Petrie. “Originally, we were aiming for a gold standard of 20% but when we standardized our data over two years, we saw that the percentage was closer to 30-35%. Since then, we have been digging in to better understand why the percentage is higher and when it might be a sign that the center’s revenue cycle is healthier as a result.”

There are couple of variables that centers should note:

Patient Responsibility & Financial Counseling – Up-front collections are a contributor to A/R over 90 and if a center doesn’t have an up-front collections process in place, it is very unlikely to get to 20% for A/R over 90 Days. Why? Because patients can be responsible for as much as 30% and that takes time to collect.

“When patients lack financial counseling, it often results in the patient being unprepared to pay copayment, deductible and/or co-insurance amounts,” explained Petrie. “This contributes to unsecured debt and drives up days in A/R. We work with our clients to operationalize upfront patient financial counseling and collections and we are seeing dramatic results.”

Quality Auditing – Audits help identify where education is needed among staff and assist in finding gaps and leaks in the revenue cycle. Petrie noted: “By conducting an aggressive appeal the first time, the percent of A/R over 90 Days automatically goes down. High-performing ASCs will inevitably experience claims denials, but during an audit we take an in-depth look at the center’s appeal process, that helps us get to the root of the issue and correct it.”

 

Make the Most of Downtime in order to Reopen Stronger Than Ever

During the COVID-19 crisis, ambulatory surgery centers (ASCs) are pausing non-essential procedures in order to preserve resources for hospitals that are treating an influx of sick patients. In turn, this is leaving ASCs with a reduced or nonexistent case volume. We provide suggestions on how to use this downtime wisely so your center will be prepared to ramp back up as quickly and efficiently as possible.

Payers & Payer Contracts

You should be taking this time to become familiar with what your most common payers are doing now. Some payers may be waiving authorization processes, and some may be waiving certain costs for patients. It’s also important to create a payer fee schedule to reconcile payments as well as review contracts to make sure you have the right fee schedule in place. ASCs also need to establish timely follow up processes and remember – don’t accept what the payer pays the first time.

Continue to Work A/R

Regular monthly A/R reports should be run to streamline follow ups, and billing staff should follow up with every account listed. The gold standard for follow up is at least 95%. This results in improved collections and a decrease in A/R over 90 days.  Running an audit can help identify gaps and leaks in the current revenue cycle. During an audit, you take a deeper look at your center’s appeal process which will help get to the root of the issue and correct it. Download our guide, 3 Revenue Cycle Audits that will Improve Collections & Lower Days in A/R, to get started.

Conduct a Self-Audit

Now may also be an opportune time to conduct a self-audit to ensure you’re collecting every dollar you are entitled to. As ongoing consolidation among healthcare payers squeezes surgery center reimbursements, periodic business office audits can be key to identifying a center’s financial stress points, strengths, and opportunities. We’ve published a guide to help you get started. Click here to download your copy or contact us if we can help.

2020 Business Office Manager

2020 Business Office Manager of the Year Announced at Annual Conference

Regent Revenue Cycle Management (RCM) kicked off 2020 by hosting our annual Business Office Manager Conference in South Padre Island, Texas. Ambulatory surgery center (ASC) business office managers from all over the United States were in attendance.

Laina Roberts from Plaza Surgery Center earned the Business Office Manager of the Year award. Stefanie Herrick was also recognized for her achievements at Surgery Center of Wasilla.

Roberts started in 2019 and has made a positive impact from day one. Prior to her start, Plaza Surgery Center had about 3% of the month’s cases unbilled by month end. Through process adjustments, organization, and consistency, Roberts reduced that number to less than 0.5%, essentially eliminating the issue. Roberts has also overhauled some important HR filing and functions, and she is beginning to tackle the credentialing program.

“Laina is doing exceptional work and she exemplifies the best qualities in an ASC business office manager,” said Regent RCM Vice President Erin Petrie. “Her tenacity, attention to detail, and willingness to dig in and make a difference contributes to the success of her facility. We’re thrilled to recognize her as this year’s winner.”

In her role at Surgery Center of Wasilla, Herrick has positively impacted the morale of the center, improved employee engagement, and has revamped all of the business office functions.

“We congratulate Stefanie and Laina; we are so pleased to have them leading our centers, training others, and exemplifying excellence,” added Petrie.

If you’re interested in joining our team, click here.

The Center for Specialized Surgery

Regent RCM Awards 2016 ASC Business Office Manager of the Year

Rachel Caksackkar from The Center for Specialized Surgery (TCSS) in Ft. Meyers, Florida, received the 2016 Regent RCM Business Office Manager of the Year award at the Regent RCM-hosted Business Office Manager Conference, held recently in Lafayette, California.

Ambulatory Surgery Center (ASC) business office managers throughout the country attended the conference, which highlighted insights and information from leading speakers in the industry.

“Rachel exemplifies the best qualities in an ASC business office manager,” said Regent RCM Vice President Michael Orseno. “Her positive attitude, tenacity, attention to detail, and dedication play a major role in the success of her facility. We’re thrilled to recognize her as this year’s winner.”

Orseno added that of the candidates in consideration for this award, Caksackkar was chosen because her work, in conjunction with the Regent RCM team, contributed to markedly improving revenue cycle metrics for TCSS in the past year.

Among her duties, Caksackkar handles patient financial counseling to estimate out-of-pocket costs in advance of procedures. She reviews scheduled cases against anticipated reimbursement to protect the facility against revenue loss, and she works diligently with the Regent RCM team on turning around unbilled cases, such as instances where physicians did not dictate in a timely manner or additional information was needed for coding or billing.

“It’s an honor to receive this award from Regent RCM in acknowledgment of the work I do on behalf of The Center for Specialized Surgery,” said Caksackkar. “Partnering with the specialists at Regent RCM has been a great experience and our collaborative approach makes all the difference in our success.”

Are you a business office manager or center administrator actively researching RCM solutions? Click here to access a free ROI calculator to estimate your annual financial improvement through outsourcing RCM or click here to speak with a member of our team.

Regent RCM Employees

Regent RCM Hosts Business Office Manager Conference

Regent RCM recently hosted a Business Office Manager Conference April 12-13 in Lafayette, California. Ambulatory Surgery Center (ASC) business office managers from Alaska to Florida were in attendance.

“It was great to have so many managers in one room all sharing ideas and best practices, while learning from industry leaders and innovators,” stated Regent RCM Vice President Michael Orseno. “Our partners from Regent Surgical Health, including Founder and CEO Tom Mallon and Vice President of Risk Management and Clinical Operations Kathy Bernicky, were also on hand and weighed in with their industry insights and expertise and addressed a variety of ASC specific questions from the attendees.”

Regent RCM slated an information-packed conference with speakers from ZirMed, Surgical Notes, MedTek, HSTpathways and MedHQ, as well as CEO Mallon.

The keynote address was delivered by Delise Crimmins, partner with Redline Leadership Associates. She shared her deep experience and highlighted the importance of leadership for business office managers in the ASC setting.

“I’m so glad I got to attend the conference this year,” said Diane Ethan, business office manager at Plaza Surgery Center in Portland, Oregon. “From leveraging technology, to understanding new ASC revenue cycle benchmarks, and measuring the health of our ASC, this conference was time well spent and I’m thrilled to have had the opportunity to connect with and learn from my peers in the industry.”

In addition to sharing industry insights and information, Regent RCM also honored employees at this year’s conference. Sue Campbell, business office manager at Knightsbridge Surgery Center in Columbus, Ohio, received recognition and a special retirement gift in honor of her service. Rachel Caksackkar from The Center for Specialized Surgery in Ft. Myers, Florida was awarded the 2016 Business Office Manager of the Year award for her outstanding performance and her dedication to improving all pertinent ASC revenue cycle metrics during the past year.

The Business Office Manager Conference was held in conjunction with the HSTpathways user’s conference where Regent RCM Director of Business Development Ed Tschan and Revenue Cycle Supervisor Leslie Favela shared their extensive ASC revenue cycle knowledge with specific attention to staffing, standardized workflow processes, automation and technology. They also discussed nine ASC revenue cycle benchmarks aimed at dispelling myths, and outlined which benchmarks stand on their own and which ones are affected by outside forces.

Pictured:

(Front Row)

Nick George – Knightsbridge

Sherrie Wiseman – High Plaines

Amanda Mellott – High Plaines

Kari Sroka – ISMOSC

Rachel Caksackkar – TCSS Ft. Myers (2016 BOM of the Year)

Sandy Lagunas – Regent

Tanya Ramirez – Lodi

Vicki Webb – Reno

Sue Campbell – Knightsbridge

Mary McGill – Palos

Linda Reid – RWJ Endo

Vianca Bautista – Regent

Leslie Favela – Regent

(Back Row)

Mary Kearns – Glasgow Medical Center

Michael Orseno – Regent

Diane Ethan – Plaza

Kathleen Fischer – Andrews Institute

Joan Vassilogambros – Midland

Susan Bryson – Wasilla