The Importance of Regent RCM’s Dedicated Staffing Model

Part one of a four-part series examines Regent RCM’s mission to improve the ASC revenue cycle service model

Dedicated exclusively to ambulatory surgery centers, Regent Revenue Cycle Management (Regent RCM) has built an innovative engagement model that leverages the latest industry technology and workflows. “Because we are in the trenches with our partner centers, we know their pain points and we know how to solve them,” said Michael Orseno, Vice President of Revenue Cycle. “Our unique revenue cycle management (RCM) model successfully lowers RCM costs, improves results, and increases patient satisfaction.”

The model is defined by four components:

  1. Dedicated Staffing
  2. Efficient Automation
  3. Real-time Reporting
  4. Industry Expertise

This first of a four-part series reviews the importance of Regent RCM’s dedicated staffing model designed to provide consistency, transparency and accountability.

“In order to provide the highest level of patient satisfaction, we knew we had to have a dedicated team that possessed an all-inclusive knowledge of the revenue cycle,” said Orseno. “Regent RCM understands that one action in the revenue cycle affects all others.”

Regent RCM’s dedicated team includes a revenue cycle supervisor who manages the revenue cycle specialists. Supervisors have expertise across the entire spectrum of ASC revenue cycle from payment posting and billing, to patient and payer follow-up.

Only revenue cycle veterans are hired by Regent RCM, and each supervisor has 10+ years of industry-specific experience. These supervisors leverage their industry acumen to become an integral part of Regent RCM’s business office team – monitoring and reporting on revenue cycle health for each ASC client, and using a series of benchmarks and KPIs in order to ensure optimal results.

Regent RCM implements thorough development and training programs to make sure the team stays ahead of ongoing industry changes and updates. “In addition to having dedicated professionals assigned to each account, we have redundancies in place including succession and contingency plans,” said Vianca Bautista, Revenue Cycle Supervisor. “Our staffing model ensures the financial health of a center, no matter what happens.”

Contact us to learn more about dedicated staffing or to speak with a revenue cycle team member, and stay tuned for the next blog in our four-part series: Efficient Automation.

Regent RCM’s Michael Orseno to Speak at Becker’s Second Annual CIO/HIT + Revenue Cycle Conference

Regent Revenue Cycle Management (Regent RCM) has been selected to participate in this year’s CIO/HIT + Revenue Cycle Conference hosted by Becker’s.

Michael Orseno, Vice President of Revenue Cycle at Regent RCM, will contribute to a timely panel discussion, Addressing High Deductible Patient Plans and the Evolving Role of Patients Becoming Payers, from 1:00 p.m. – 1:45 p.m. on Thursday, July 28.

“More and more, patients are responsible for handling most of the financial responsibility for their medical care,” said Orseno. “Moving forward, it is critical for revenue cycle leaders to focus on high deductible patient plans, and understand how these plans impact the revenue cycle.”

The conference takes place July 27-28 at the Fairmont Hotel in Chicago. Attendees can sit in on a variety of sessions, featuring 175 experts and revenue cycle leaders. Overall, there will be nearly 100 sessions over the two-day conference, with three full CIO/Health IT tracks, as well as three full revenue cycle tracks. Topics include:

  • The Transformation from Volume to Value and the Constant Movement and Impact on the Revenue Cycle—Wednesday, July 27, 8:05 a.m. to 8:45 a.m.
  • Adapting Best Practices for the Revenue Cycle– Wednesday, July 27, 8:50 a.m.-9:30 a.m.
  • Key Thoughts on Improving Revenue Cycle– Wednesday July 27, 9:50 a.m.-10:30 a.m.
  • The Biggest RCM Pitfalls– Thursday, July 28, 9:45 a.m.-10:25 a.m.
  • Post ICD-10—How is the Revenue Cycle Performing? – Thursday, July 28, 1:00 p.m.-1:45 p.m.

For more information on the conference and registration, download the brochure 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.

Michigan Ambulatory Surgery Association

Regent RCM to Host ASC Benchmarking Webinar Series for MASA

Regent Revenue Cycle Management (RCM) will present a three-part webinar series to the Michigan Ambulatory Surgery Association (MASA) in June. The webinars, led by Regent RCM Vice President Michael Orseno, examine ASC-specific benchmarks developed by Orseno and his team to better assess ASC revenue cycle health.

“At Regent RCM we weren’t able to find a definitive set of ASC-specific revenue cycle metrics, so we developed nine metrics that centers can customize, deploy, and measure to gauge their financial health. We’ve also provided a gold standard for each of the metrics,” said Orseno. “These metrics shape and define a center’s revenue cycle and help center administrators understand how numbers can be improved, why they might fluctuate and how they can often be misleading.”

The first webinar in the series focuses on optimal fulltime business office employees(FTE’s) per 1000 cases, defining the appropriate staffing levels at ASCs. The second webinar highlights five core ASC revenue cycle benchmarks and how to calculate, monitor and manage them. The webinar series will conclude with a third session highlighting net collection rate, an essential stand alone metric.

“I am pleased to be able to offer this valuable webinar series to MASA members,” said Executive Director Marcy Lay. “Regent RCM’s ASC-specific benchmarks are aligned with MASA’s mission to provide centers with information that will improve operations and foster cost efficiency without compromising on quality care.”

For more information call 312-882-7228 and join our conversation via Facebook and Twitter, @RegentRCM.

Becker's ASC and Spine Review

Join Regent RCM in Chicago at Becker’s Annual Spine, Orthopedic and Pain Management Conference

Regent Revenue Cycle Management (RCM) is counting down to the 14th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine conference hosted by Becker’s ASC Review.

Taking place June 9-11 in Chicago, the conference offers attendees a variety of sessions featuring 131 physicians, primarily spine surgeons, covering a spectrum of topics ranging from Current Issues in Spine and Pain Management to Developing a Spine Program at an Ambulatory Surgery Center (ASC). In total, more than 215 speakers will cover 117 sessions during the three-day event.

Several sessions that will be of particular interest to ASC billing and collections staff include:

  • Key Concepts to Improve the Profitability and Outcomes of Spine Programs – Thursday, June 9, 2:40 – 3:15 p.m.
  • Bundled Payment for Spine and Orthopedics – Thursday, June 9, 2:00-2:35 p.m.
  • The Changing Healthcare Environment, Implications of Medicare and Impact on Commercial Payor Contract Negotiation for Spine, Orthopedics and Pain Management – Thursday, June 9, 2:40-3:15
  • Tough Coding and Billing Issues for Spine and Pain Management – Friday, June 10, 1:05-1:50
  • Bundled Payments in Self-Insured and Self-Pay Patients – Friday, June 10, 1:55-2:35.

For more information on the conference and registration, download the brochure here.

Visit Regent RCM at booth #7 to find out more about turnkey ASC billing and collections services and how Regent RCM’s services consistently outperform industry benchmarks allowing surgery center leadership to focus on high-value activities. Click here to contact a member of the Regent RCM team to learn more.

Regent RCM logo

ASC Revenue Cycle May Industry News Wrap-Up

Each month Regent Revenue Cycle Management (RCM) explores the top news and headlines affecting the health care industry. This month in the news: Managing overpayments from insurance companies, a new app for cataract surgeons, and tools to streamline patient handoff at health care facilities.

Expert Advice on Handling Overpayments

Regent RCM Vice President of Managed Care Andrea Woodell advises ambulatory surgery centers (ASCs) to avoid racking up overpayments from insurance companies. In a recent article addressing the burden this places on billings and collections, Woodell details the steps centers should take to deal with overpayments. Click here to read her helpful tips and click here for a blog post that further examines this issue.

New App Puts Information at Surgeons’ Fingertips

Cataract surgeon pre-op notes to go digital with new iOS app under development by Bausch & Lomb and IBM. The iPhone and iPad app enables surgeons to access information before, during and after procedures, organizing essential information. Pilot testing on the cloud-based app is scheduled to begin later this year. Click here for details on how the app can help with more efficient planning and follow-through for surgeons.

Top Tools Streamline Patient Handoff

Health care facilities can utilize a host of tools aimed at improving and streamlining patient handoff. A recent article lists ten tools that are currently available, including Digital Nurse Assistant, which automates tasks nurses commonly perform by hand, and a patient handover toolkit that looks at all aspects of patient handovers including common problems experienced and recommended standard protocols. Click here for all 12 helpful tools.

Contact Regent RCM at 312-882-7228 to learn more about cost-effective billing and collection services for ASCs.

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 revenue cycle management corporate values

RISE Corporate Values: Efficiency

Regent RCM’s cultural values aren’t just lip service; they are a starting point for all team member’s actions and decisions. Our RISE values not only lead individuals to reach their professional potential, they provide distinctly different service and support to our ambulatory surgery center partners.

RISE stands for:

Respectful Caring

Demonstrating compassion toward all stakeholders.

Integrity

Being true to what we believe in, doing what we say we will do and adhering to our commitments.

Stewardship

Responsibly utilizing and developing our people, property, and assets while fostering a safe and secure environment.

Efficiency

Appropriately identifying, selecting, and managing all resources to ensure excellent clinical and financial outcomes.

This is the final post in a series about our RISE values and their importance; in earlier posts, we talked about Respectful Caring, Integrity and Stewardship. In this post, we’ll discuss the last RISE value: Efficiency.

Efficiency

Selecting and utilizing ideal resources is critical to ensuring successful financial and clinical outcomes for Regent RCM and its clients. We are constantly evaluating the technology and processes we use, looking for more cost-effective tools, methods, and system automation. This proactive approach identifies problems and finds solutions early on, as well as helps our team manage time and prioritize work efficiently.

Regent RCM’s services optimize workflow and processes for ambulatory surgery centers, in addition to providing them with invaluable analytics and real-time monitoring and management.

ASC Revenue Cycle Benchmarking Series Video

Regent RCM Focuses on Net Collection Rate in Webinar Series

In the final installment of Regent RCM’s three-part webinar series on ASC industry benchmarks to determine the health of a center’s revenue cycle, Vice President Michael Orseno and Director of Business Development Ed Tschan examine how to interpret these key performance indicators (KPIs) and what they are really communicating.

“Performance benchmarking continues to be an integral part of the Regent RCM team’s operations and its focus on continuous improvement,” said Tschan, who introduced the webinar and Orseno.

Orseno recapped the five ASC revenue cycle metrics mentioned in the second webinar but went into greater depth, discussing which ones could stand alone and which ones could be manipulated. He added a sixth ASC revenue cycle performance metric, net collection rate, which cannot be manipulated and explained its significance.

“It’s nearly impossible for office staff to manipulate the net collection rate,” said Orseno. “That’s why we sometimes refer to it as the great lie detector. All the other metrics we discussed previously can be manipulated. The only way this metric can be manipulated is by the person doing the calculation.”

Multiple attendees of the three-part webinar series commented that they plan to immediately incorporate ASC revenue cycle benchmarks to improve the health of their ASC.

“I think it was an awesome series with so much helpful information,” said one attendee. “I couldn’t believe all the insight our center can gain from utilizing these metrics. We’re running reports right now to see where we stand.”

Tschan stressed the importance of a revenue cycle audit that utilizes these recommended metrics to allow a center to confidentially capture existing performance metrics and get a solid sense of where they stand.

“What we’ve found historically is that most centers don’t have the luxury of having a strong financial contact that has performed revenue cycle audits before,” said Tschan. “We recommend that a center looks for an auditor specifically in the ASC community to provide relevant qualitative and quantitative insights.” He went on to explain how to find the right auditor, including four key areas that should be part of the audit and what to expect at the end of the audit process.

Orseno finished up the webinar by putting ASC revenue cycle benchmarks in perspective, noting that they are a valuable tool, but only part of the picture.

“We want to make sure that you have the tools in order to measure these metrics and to be able to identify how these metrics can be manipulated,” said Orseno, “but I think the most important message we want to put out is not to be blinded by these metrics, either one by one or altogether. Use them as a tool but ultimately, focus on the revenue due to the center.”

Click here to listen to the full webinar with detailed information on assessing the validity of these ASC revenue cycle benchmarks and how to be mindful of those that can be manipulated.

Regent RCM logo

ASC Revenue Cycle April Industry News Wrap-Up

 

Each month Regent Revenue Cycle Management (RCM) explores the top news and headlines affecting the health care industry. This month in the news: Healthcare jobs and cataract surgeries are on the rise, trends in value-based healthcare include embracing prepayments, and peer review is examined as a valuable tool to boost performance in ASCs.

Healthcare Industry Seeing Increase in Cataract Surgeries

Market Scope data finds that cataract surgeries are on the rise, growing at 3.5% per year, with the majority done in ASCs, according to a recent article published in Healio Ocular Surgery News. Click here to read one physician’s perspective on the current and future outlook for these procedures.

Top Patient Safety Concerns in Healthcare Facilities

An article in Outpatient Surgery Magazine lists the healthcare industry’s top patient safety issues as identified by the ECRI, including patient identification errors and failure to embrace a culture of safety. Click here for the number one safety issue and others included on the annual list.

Practices Focusing on Value-Based Healthcare

A recent article examines six trends in value-based care, including embracing prepayments, taking on a patient-centered approach and emerging healthcare roles that better support patient needs. Click here to read more about these trends and ways to incorporate them in your ASC.

Peer Review an Important Tool for ASCs

Peer review can be an invaluable tool for improving ASC performance, setting internal performance benchmarks, and ensuring standards of care are met. Click here to learn more about the benefits of peer review and the ways in which to utilize it.

Healthcare Jobs on the Rise        

Employment in healthcare is on the rise with no signs of slowing down in 2016, according to a recent article in Becker’s. The article, available here, cites findings from Health eCareer’s “2015 Year over Year Healthcare Jobs Snapshot.”

Interested in working at Regent? Our values-driven culture helps us stay focused on our goal of leveraging our ASC expertise, while providing consistent high-value and high-touch customer service to our clients. Contact us to learn about career opportunities.

 

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