How Our Dedicated Staffing Benefits Centers & Patients

Regent RCM is committed to improving the financial health of all the ambulatory surgery centers (ASCs) we serve. Our team has deep knowledge of the entire revenue cycle, from payment posting through payer follow-up, and we use our experience to find solutions to our partner centers’ pain points.

Regent RCM’s Dedicated Staffing

One solution that sets Regent RCM apart from other billing and collection service providers is our dedicated staffing model. Regent RCM assigns one revenue cycle specialist to manage a center’s complete revenue cycle, from start to finish. This specialist becomes an expert in the account, delivering exceptional and detailed service. Regent RCM’s revenue cycle supervisors also oversee high-level operations for a small group of ASCs.

Other companies divide the revenue cycle into tasks delegated to different people –with one employee managing charge entry, and several employees handling payment posting and accounts receivable for all centers.

“Our staffing model is definitely our differentiator,” said Erin Petrie, Regent RCM’s Director of Revenue Cycle Management.

“Our centers appreciate that they have a contact who knows everything about their revenue cycle. When centers need information, they don’t have to talk to four or five people who each managed one piece of a claim; they can just ask one person. And our team of revenue cycle specialists and supervisors have insight into the big picture: overall trends with payers, AR problems, or reasons cash flow is light.”

Partner centers benefit because they build strong relationships with the professionals working on their accounts. And patients receive better service when they have questions about a claim; they can speak directly to the person in charge of the revenue cycle, instead of being transferred to multiple people in an organization.

Our Hiring Philosophy

When hiring new team members at Regent RCM, we look for candidates who demonstrate technical knowledge, industry expertise, and our RISE corporate values (Respectful Caring, Integrity, Stewardship, and Efficiency). Successful candidates are also self-directed, proactive, and persistent. They know how to manage day-to-day and long-term account operations, and they are willing to work tirelessly to get the best outcomes for a center.

“We want someone who shows initiative and dedication; we make sure that whoever we assign to cover each center is really an extension of that center’s staff,” said Petrie.

“They’ll be here working every day to make the revenue cycle run smoothly. Because they’re responsible for the full cycle, they’ll notice trends with payers and denials, and know how to get timely payments. Often the biller is so in tune with the center’s revenue cycle that they can spot a code that a particular payer will deny. And they’ll go back to the coder to get the appropriate code, eliminating denial before the bill even goes out. That’s what we strive for.”

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revenue cycle management

3 Secrets to Successful ASC Revenue Cycle Management

Effective ambulatory surgery center (ASC) revenue cycle management can be hard to achieve, particularly as internal and external forces exercise their influence. According to Regent RCM’s Vice President of Revenue Cycle Management Michael Orseno, ASCs that pay attention to three key success factors are well-suited for the challenge.

“The first key success factor is driven by the healthcare industry’s shift toward value-based care,” Orseno says. “While assuming reimbursement risk from payers along with the responsibility to provide quality care has created some uncertainty and challenges for ASCs, managed care is in better hands. ASCs are equipped to both deliver quality care and manage costs more effectively than insurance companies ever were. But to be successful in revenue cycle management (RCM), ASCs need to become more adept at both managing costs and collecting additional revenue directly from patients, many of whom have selected healthcare insurance plans with lower premiums but higher deductibles.”

Another factor is also closely related to the evolution of value-based care. While many ASCs are succeeding at streamlining procedures and costs for procedures new to out-patient treatment, such as total joint replacement, payment bundling and reimbursement declines introduce new pressures. For example, payers are beginning to scrutinize payment of high-cost implant procedures and are driving a hard bargain when it comes to bundled payment agreements. As ASCs assume leadership of these bundles, a second key success factor is careful negotiation along the way. “You need to be diligent – check your costs, factor in economies of scale but also account for patient-driven variation, and renegotiate contracts annually,” Orseno suggests.

A third way to ensure successful RCM is to optimize business office staffing. “The best-run ASCs make sure their RCM staff is motivated and incentivized to aggressively pursue revenue, rather than just remaining content with the status quo,” Orseno says. “If an ASC’s staff is accepting only what the insurer pays and not fighting for what the center is contractually entitled to or higher than ‘usual and customary,’ that particular facility may be leaving a lot of money on the table.”

ASC Physician Revenue review

Winning and Keeping Patients Through Effective Revenue Cycle Management

Successful Revenue Cycle Management (RCM) not only benefits Surgery Center’s financial performance, but also translates to higher patient satisfaction. From billing processes to financial counseling and customer service, as a provider of Ambulatory Surgery Center (ASC) RCM it is critical to balance delivering exceptional patient care while performing the necessary functions of the surgery center. Winning and building loyalty through effective RCM hinges on three things:

  1. Providing Patient Financial Counseling & Out-of-Network Strategy

Before prepping patients for surgery, it is important to first provide financial counseling and prepare patients for associated financial responsibilities, including the billing process and required payments. Since most surgeries are elective, patients report higher satisfaction when they know the cost of the surgery upfront, understand their benefits, including whether the surgery is in- or out-of-network, and determine the steps to establish a payment plan, if needed. Helping patients understand deductibles as well as out-of-pocket costs takes time, but the payoff for centers is significant and can result in not only higher patient satisfaction, but also higher patient retention, particularly when a patient requires additional surgery.

  1. Billing Processes

A center’s billing process is directly linked to patient satisfaction – both positively and negatively. Accurate coding is key to success, as inaccurate coding may disclose misinformation and potentially undermine confidence in the billing process. Another key to satisfaction is sending regular billing statements on the date of patient responsibility, not from the date the patient was seen. Typically, there is a 30-day period between when the patient was seen, and when their statement is sent, allowing insurance companies to pay their balance first. If the system is not set up correctly, a patient’s statement will already reflect 30 days in arrears. For centers to garner high satisfaction from patients, they must have a successful patient billing process.

  1. Delivering Exceptional Customer Service

For current and future patients, delivering a high level of customer service is paramount. Delivering excellent customer service begins by speaking with patients in a courteous and professional manner while guiding them through the billing process, financial counseling, and also speaking to patients directly prior to sending notice regarding collections. It may also include helping patients understand their primary and secondary insurance, or appealing on behalf of a patient to help them receive a letter of medical necessity. Financial conversations can be challenging, but personnel who take a consultative approach can earn good will and future loyalty for your center.

A successful RCM strategy can be a differentiator for centers. By taking a measured approach and proactively addressing patient financing, out-of-network strategies, billing processes, and customer service, centers will drive volume through higher retention and satisfaction.