Revenue Cycle

Regent RCM and ZirMed Partner to Improve Revenue Performance

Authored by Vice President of Revenue Cycle Michael Orseno, Regent Revenue Cycle Management (RCM) this week released an article that outlines five ways in which Regent RCM and ZirMed combine to improve revenue performance.

“The ASC revenue cycle is complex and we both know that. Through our partnership, we leverage our expertise and provide ASCs with the support and technology needed to effectively manage the revenue cycle,” said Orseno. “With this article we drill down on five keys to getting paid quickly and efficiently.” Strategies include:

  1. Verify insurance coverage.
  2. Code claims correctly the first time.
  3. Minimize claim denials.
  4. Act quickly against denials.
  5. Arrange for/Collect patient out-of-pocket expense up front.

“Surgery centers need revenue cycle strategies that work and together with ZirMed, we deliver breakthrough revenue cycle management solutions that enable partner centers to collect every dollar they are entitled to,” added Orseno.

The article, Regent RCM, ZirMed Work Together to Solve ASC Revenue Issues, appears exclusively online at Becker’s ASC Review. Click here to read the full article.

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Part Two: Regent Partner ZirMed Weighs in on Patient Responsibility

In the second installment of a two-part blog series, ZirMed® Partner Relationship Manager Emily Reder shares additional insights on the rise in patient responsibility and how this trend impacts the revenue cycle.

When asked to share a best practice for ensuring patient collections, Reder said that she advises providers to tell patients upfront what they’re going to owe before surgery.

“It’s almost like giving patients more of a say,” said Reder. “If it’s an elective procedure, knowing how much it’s going to cost can help them make an educated decision about whether to go through with it or not.”

Reder continued, “With the Affordable Healthcare Act, we see that Americans have more coverage now than ever before, but that doesn’t mean that healthcare providers are being paid faster or that they’re being paid in full.”

It all comes down to patient responsibility and creating a very solid customer experience for patients in order to collect on services rendered.

ZirMed’s partnership with Regent RCM gives ASCs the support and technology needed to effectively manage the revenue cycle, with each company staying abreast of current trends within both the healthcare and revenue cycle management industries.

“Regent RCM and ZirMed both want to be the best at what they do and the best at really helping ASCs manage their workflow processes,” said Reder. “It doesn’t hurt that Regent is a fun, wonderful group to work with, but I think that at the end of the day it’s really their hard work for their clients that matters, and that’s ZirMed’s approach as well. We both want the best for our clients, so working together is a natural fit.”

For more information about Regent RCM click here.

To contact ZirMed or request a demo, click here.

zirmed logo revenue cycle management

Part One: Regent Partner ZirMed Weighs in on High Deductible Plans

ZirMed®, which empowers healthcare organizations to optimize revenue and population health with the nation’s only comprehensive end-to-end platform of cloud-based financial and clinical performance management solutions, partners with Regent RCM to make sure ASCs have the shortest revenue cycle possible and get paid on time for services rendered. ZirMed Partner Relationship Manager Emily Reder has worked directly with Regent RCM for a year-and-a-half, but ZirMed’s association with Regent RCM goes back to June 2011.

In the first of a two-part blog series, Reder shares her perspective on the rise in patient responsibility and how this trend impacts the revenue cycle.

“We see that high deductible plans are becoming more and more popular because, from a premium perspective, that’s sometimes what’s affordable,” stated Reder.

She explained that ASCs and other providers once depended on getting all or most of their payment from the payer. But now ZirMed is finding that it’s double the amount of work for providers to get paid by the patient rather than the payer, due to higher deductibles and the time and expense required to collect from patients after they receive services.

“It’s expensive to send unpaid bills into collection,” said Reder. “So that game has really changed and we’re focusing more effort on collecting as much as possible from the payer, but also having a follow-up plan to make sure that once you get through the adjudication process with the payer, you’re on really solid footing to collect the rest from the patient.”

To accomplish that, Reder stressed the importance of establishing a foundation when the patient is first seen. “We call it the patient access phase of the revenue cycle, where you’re first seeing the patient, getting information from them, and collecting as much information as you can upfront,” said Reder. “Eligibility verification is very important, being able to create the start of a consumer-like process for the patient. Patients are really starting to behave more as consumers rather than traditional patients, because they’re having to pay for care out of their own pockets.” And Reder does not see that trend changing anytime soon.

In the second segment of this blog series, Reder will discuss how Regent and ZirMed are helping ASCs best address this trend while effectively managing the revenue cycle.

For more information about Regent RCM click here.

To contact ZirMed or request a demo, click here.