No patient wants to spend the night (or longer) in the hospital, and that’s where ambulatory surgery centers come in. ASCs provide patients with an array of same-day services, including orthopedics, podiatry, gynecology, and plastic surgery.
If your practice struggles with ASC billing services, it might be time to consider ambulatory surgery center billing companies. These companies offer revenue cycle management solutions and can help your practice keep claim denials to a minimum.
The Role of Ambulatory Surgery Center Billing Companies
What does an ASC medical billing company do? We’ll explore services offered by trained ASC billing professionals in more detail next.
Specialized Knowledge and Expertise
Healthcare providers and ASCs are experts at what they do, but many struggle to wrap their heads around billing and coding. That’s understandable because medical billing and coding systems can be very complex. If you don’t have a full-time accounts receivable department to handle billing tasks, it’s too easy to make coding errors that could hurt your financial performance.
ASC billing services companies have specialized knowledge that most ASC staff simply don’t. If you’d like a helping hand with the ASC billing process or accounts receivable management, you can’t go wrong by hiring a full-service medical billing company.
Compliance and Up-to-Date Coding
When was the last time you checked out updates to medical billing codes? The CPT Editorial Panel changes, adds and removes codes annually, so if you’re not up to date, you could make billing and coding mistakes resulting in denials from insurance carriers.
Challenges in Ambulatory Surgery Center Billing
Not sure you need an ASC billing company? If you face these challenges with billing services, hiring a company that handles the ASC revenue cycle for physician practices is a smart choice.
Dealing With Denials and Appeals
Insurance denials can seriously hurt your cash flow, and handling medical billing and coding appeals can take time that busy ambulatory surgical centers don’t have. If your goal is to maximize profitability and boost revenue generation, why not hire an ASC billing company with deep expertise in coding services?
Ambulatory surgery center billing companies focus on denials, timely appeals, and other billing services, so you don’t have to.
Navigating Complex Payer Requirements
Is pain management covered for that patient? Will insurance pay for surgery, or is it deemed “not medically necessary”? If you don’t know the answer, you might get no payment, and the client will receive a hefty bill.
No matter what ASC specialties you offer, chances are good that you’ve grappled with questions like these. An ASC revenue cycle management company can easily handle post payments for medical facilities so you don’t end up with lost revenue.
Enhancing Revenue Cycle Management in ASCs
Ready to take control of your revenue streams? Here’s how an ambulatory surgery center billing services company can help.
Streamlining Billing Processes
An ASC medical billing and coding service handles all parts of the process from beginning to end. These billing services companies help you streamline operations so you can focus on the patient experience by taking care of the following:
- Claims submissions
- Maximizing reimbursements and minimizing underpayments
- Obtaining prior authorization
- A/R management
Improving Collection Rates
To improve collection rates:
- Train staff on accurate coding practices to reduce errors.
- Educate patients on all costs and provide accurate estimates.
- Offer installment plans so patients can pay over time.
- Conduct ASC billing audits to identify mistakes.
The Impact of Technology on ASC Billing
Tech plays a big role in ASC billing services. Here’s how.
Automated Billing Systems
Consider an automated billing system if you’ve ever had to hound patients to pay their bills. These tools send payment reminders so you don’t have to. They’ll also inform you when a patient’s bills are past due.
Data Analytics and Reporting
Good ASC billing services systems include robust data analytics and reporting tools to give a bird’s-eye view of your practice’s financials. These systems help ambulatory surgery centers make informed decisions on billing and coding.
Choosing the Right Ambulatory Surgery Center Billing Company
Not sure how to pick the best ASC billing company? Check out these tips.
Key Factors To Consider
Choose an ASC billing services company that:
- Has experience working with ASCs
- Understands common codes for the services you offer
- Has a good track record of compliance
- Has strong technological capabilities
Don’t just pick the first billing company you find on Google. Instead, look for a company that specializes in billing for ASCs. They’re likely familiar with the codes you use, which will minimize the risk of denials.
Weave’s Billing Solutions
You might also consider a billing system like Weave Payments. Check out our free webinar to learn how Weave can help you speed up your collections process.
Weave: The Perfect Partner for Bolder Healthcare Solutions
Ambulatory surgery center billing companies can help you stay profitable, and so can Weave! Get a free demo of our practice management software now.
83% of businesses collect faster by using Weave, as reported by Weave Customers.
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