Not outsourcing revenue cycle management? 6 hidden benefits high-performing ASCs may overlook
If your ASC can pay its bills on time, make regular distributions to its owners, and afford the occasional capital investment that helps drive growth, congratulations! Many ASCs struggle to accomplish one or more of these indicators of financial stability and success.
And yet your ASC may not be achieving its full financial potential. That's why it is important to consider the value of outsourcing your revenue cycle management (RCM) operations. It's a practical business decision that more ASCs are pursuing. By partnering with a company possessing extensive surgery center RCM experience and resources, ASCs get paid what they are owed in a timely, efficient manner. Collections increase while denials and bad debt decrease. With margins tightening, that's critical. Even successful surgery centers cannot afford to leave money on the table that they rightfully earn.
But that's not the only reason to consider outsourcing your RCM. ASCs are discovering that there are many other perks beyond getting paid that come with turning over management of their revenue cycle to experts. Here are six of the most significant benefits.