In a year of unforeseen challenges, our team at Regent RCM is proud of our collective achievements — both within our company and in partnership with our ASC clients.
As we get ready to wrap up 2020 and look ahead to a new year, Erin Petrie, Regent RCM Vice President , shares her thoughts on this year’s highlights and what she is excited about in 2021.
“We accomplished a lot that I think is pretty amazing for the year,” said Petrie. “Obviously, we faced a number of challenges with COVID, but we actually improved our metrics or held them at the same level from the previous year. Our A/R percentage over 90 days decreased by four points, our A/R follow-up improved 3%, and our cash remained about the same. I’m very excited about the staff’s ability to do that.”
Moving to Remote Work
Regent RCM’s staff had never worked from home before, and with very little notice, we closed our office and became a fully remote company during the pandemic. We had to find solutions for a few logistical hiccups, such as moving PCs to home offices and setting up VOIP phone lines, but our team quickly adjusted.
“We didn’t have a lot of time to plan what a fully remote staff would look like,” said Petrie. “I was confident that we could do it, but I was surprised by just how well we did under the circumstances. Everyone was juggling a lot of priorities — like parents working and doing e-learning with their kids. We spent a lot of one-on-one time with our staff, helping them prioritize things and work out a time management plan that made sense for them.”
Making Time for the Wish List
One silver lining of the pandemic was that while new case volume slowed down for ASC centers, our staff put the unexpected downtime to good use. We pursued projects that will improve the service we offer our clients, including gathering extensive information about our centers and different payer policies, so we have a robust database of information to draw from in the future.
“We spent a lot of time working on our wish list projects,” said Petrie. “We worked on a good deal of standardization — for example, creating “best appeal” templates so that a higher percentage of first-level appeals are successful, and second-level appeals aren’t necessary. We also put together a thorough training plan for the staff that has reduced training time from three or four months to three weeks. We’ve seen that plan be very successful.”
Carrying Lessons Forward into 2021
Regent RCM’s priority moving into 2021 is determining how we can continue to serve our centers better. We have identified that there’s a need for ongoing training and support, and we are exploring new ways to develop best practices, learn from one another, and share experiences across all of our centers.
“Our focus is on continuous improvement,” said Petrie. “We’ve increased our staff’s quarterly metrics, raising our targets for things like percentage over 90, A/R follow-up, and quality audits. We want to keep raising the bar, and we look forward to 2021 as another opportunity to build stronger partnerships with our centers.”
Read about two of our ASC success stories from 2020.