New Case Study: A/R Follow-Up Increases Collections in Ft. Myers

The Center for Specialized Surgery in Ft. Myers (TCSSFM), Florida is growing rapidly, in part because the center leverages Regent RCM benchmarks to gauge performance across all functions of the revenue cycle.  A new case study outlines the center’s positive experience with the benchmark for Accounts Receivable Follow-Up.

The A/R follow-up benchmark tracks how many of the cases a center has with an open balance are being followed up on each month. The gold standard expectation is that biller/collectors follow up with the payer for at least 95% of all the open claims every month.

The case study outlines steps TCSSFM has taken to achieve an amazing result: increasing collections by $125,000 per month in the past year. While center growth and the addition of high reimbursement procedures have contributed as well, efforts to follow up with payers on at least 95% of claims every month have been a big part of that success.

Erin Petrie, Regent RCM’s Director of Revenue Cycle Management says: “This metric allows us to drill down into the actual collector’s performance, versus just the center’s performance. A center might have a great month and collections are up through the roof, but that’s not necessarily a reflection of the efforts of that collector. Whereas your follow up, how many claims you’re touching every month, reflects your work.”

Want to learn more? Read the full case study here.

revenue cycle analysis

Case Study: Regent RCM Nearly Doubles Monthly Revenue Collections for High-Volume ASC

When the Andrews Institute Ambulatory Surgery Center (AIASC) sought to address challenges impacting its monthly collections, the high-volume surgery center turned to Regent RCM for help. The specialized facility, based in Gulf Breeze, Fla., is a joint venture between Baptist Health Care and area physicians, offering orthopaedic and sports medicine services.

After identifying coding and A/R process & workflow challenges leading to lost revenue for the center, the AIASC signed with Regent RCM in May of 2015. By December 2015, just eight months later, AIASC nearly doubled its monthly collections without significant changes in volume or case mix.

Regent RCM worked with the center to achieve this success by leveraging coding expertise to code claims accurately. Regent RCM also brought the center up to a clean claim submission of 97 percent – the industry gold standard, and addressed the center’s A/R process & workflow issues. Regent RCM’s primary goal was tailoring effective solutions to AIASC’s specific needs.

For more information on how Regent RCM nearly doubled the monthly collections for AIASC, read the case study here or call 312-882-7228 to find out how Regent RCM can help your ASC.

diagnostic results

Regent RCM’s Partner Centers

Case Study: A Comprehensive RCM Solution Shortens Revenue Cycle For ASC Joint Venture

Situation

The Robert Wood Johnson Endosurgical Center, located in East Brunswick, NJ, is a 6,800 square foot, state-of-the-art ambulatory surgery center offering the highest quality of care with the most advanced medical technology and equipment. A joint venture among Regent RCM, local physicians and Robert Wood Johnson University Hospital, the center offers fully equipped operating rooms, a recovery room, a post recovery room and a spacious waiting room.

Regent’s Solution

Working with its joint venture partners, Regent in 2013 began developing a comprehensive revenue cycle management solution that would arrange for payment prior to the date of service. Using Regent’s management information system, the solution would allow staff to instantly verify benefits before procedures are performed. It also would allow the ASC to capture important patient documents such as drivers’ licenses and insurance cards in one central database.

Results

Once Regent’s RCM recommended solutions were implemented, the results were almost immediate, RWJ ASC Business Manager Linda Reid said. After a review by Regent’s RCM experts, several existing claims were immediately resubmitted, including a $12,000 initial payment that was later reimbursed for $30,000.

Click here to read the detailed case study on the comprehensive RCM solution that shortened the revenue cycle for an ASC joint venture.

Regent RCM

Case Study: RCM Audit Provides Pivotal Step to Greater Financial Performance

Situation

Regent RCM conducted a revenue cycle audit of one of Regent Surgical Health’s partner centers where a representative sample of cases was selected according to the specialty and payer mix of this particular center. A full review of the ASC’s billing and reimbursement procedures and practices was conducted, providing a comprehensive snapshot of the ASC’s overall billing, collections and reimbursement performance.

Regent’s Solution

Regent discovered a claim that included a modifier billing error that not only impacted the reimbursement of the specific case in question, but had the potential to impact many more.

Based on these preliminary findings, Regent developed and executed a strategy for universally identifying the issue including a contract review, RCM process review, expanded incidence review, educating staff and reviewing previous cases.

Results

Within two business days, the ASC’s staff corrected and rebilled for the cases that included the error – all during the course of regular working hours.

Click here to read the detailed case study on the improvement of financial performance during an RCM audit.