Are you leaving money on the table? Let us take a look. We can help!
“A busy vascular center has added AVA to its team. During an AR review, the billing specialists discovered 1.5 million dollars were left on the table.” John Hadden, AVA CDO
As a physician-owner of an outpatient Medical Facility such as an Ambulatory Surgery Center (ASC) or an Outpatient Billing Center (OBL), there are numerous responsibilities that require your attention on a daily basis. Among these responsibilities is the task of managing and overseeing billing and management services. Outsourcing these services can provide significant benefits, including increased efficiency, cost savings, and improved revenue cycle management.
One of the most common reasons physician-owners choose to outsource their billing and management services is the aging of accounts receivable. Managing the accounts receivable process requires constant attention, as any delays or errors in the billing and collection process can lead to a significant increase in aging AR and as a result “leaving money on the table. By outsourcing billing and management services, you can ensure that this critical aspect of your revenue cycle management is managed efficiently, minimizing the risk of aging AR.
Another issue that physician-owners may encounter is incomplete or incorrect dictation and CPT coding. These errors can lead to significant delays in the billing and collection process and can result in lost revenue. By outsourcing your billing and management services, you can ensure that experts are closely monitoring to reduce costly errors and delays.
Trending denials are another challenge that physician-owners may face when managing their billing and management services. These denials can be caused by a variety of factors, including incorrect coding, incomplete documentation, and other billing errors. By outsourcing these services, you can benefit from the expertise of professionals who specialize in identifying and addressing these types of denials, minimizing the impact on your revenue cycle.
Finally, physician-owners of ASCs and OBLs may be facing third-party contracts that are not being paid at market value. These contracts can be complex and difficult to manage, requiring constant attention and expertise. By adding AVA to your team you can take advantage of the knowledge of our experts in contract management, ensuring that you are getting the most out of your payor contracts and increasing your revenue.
In conclusion, outsourcing your billing and management services can provide significant benefits for physician-owners of ASCs and OBLs. From aging AR to incorrect dictation and CPT coding, trending denials, and complex third-party contracts, outsourcing these critical tasks can help you to improve efficiency, reduce costs, and optimize your revenue cycle management. If you are a physician-owner of an ASC or OBL, consider outsourcing your billing and management services to experienced professionals who can help you to achieve these goals and more.