Regent RCM Releases Updates to ASC-Specific Benchmarks
Original benchmarks evaluated and revised based on two years of data and insights; new metric focuses on Accounts Receivable Follow Up
"ASC-specific measurement tools simply did not exist before we authored them," says Regent RCM Director of Revenue Cycle Management Erin Petrie. "Having the tools and intel to gauge performance across all functions of the revenue cycle has been a game changer for center leadership."
Regent RCM, a leading provider of innovative and cost-effective revenue cycle management services exclusively for ASCs, developed the initial ASC revenue cycle benchmarks with a plan to refine them as key learning emerged. The white paper updates the original benchmarks based on two years of data and insights and adds a new benchmark: Accounts Receivable Follow Up. This metric goes deeper than overall center performance to provide a true measure of individual biller/collector performance.
Since early 2017, ASCs tracking the benchmarks have been especially successful against the benchmarks for Clean Claims and Denials.
"We're increasing the Clean Claims benchmark in 2019 from 97% to 98% based on experience,"
Similarly, since beginning to track denials and to shoot for a benchmark of less than 10% of claims denied two years ago, Regent RCM's centers are now exceeding that gold standard. As a result, the benchmark is changing in 2019 to a gold standard of less than 5%.
The Regent RCM ASC Revenue Cycle Benchmarks have been embraced as a critical measurement tool to help surgery centers accurately measure revenue cycle health, and ultimately, account for every dollar they are entitled to. Regent RCM's gold standards will continue to evolve as the Regent RCM team culls insights from the data and shares them to educate center business staffs, negotiate with payers, and assist ASCs around the country in receiving the most revenue for care that they can.
To learn more, download the free white paper here (https://www.regentrcm.com/
About Regent Revenue Cycle Management
Regent RCM, a division of Regent Surgical Health, (www.regentrcm.com) is a leading provider of cost-effective billing and collection services for ambulatory surgery centers in the United States. Leveraging Regent's deep ASC industry expertise, the Regent RCM team specializes exclusively in developing, executing, and refining billing and collection strategies for the ambulatory surgery center community.
Page Updated Last on: Mar 05, 2019