Improving ASC KPIs: Specialty and payer volume trending
Written by Angela Mattioda, Vice President of Revenue Cycle Management Services, Surgical Notes
By monitoring and analyzing key performance indicators (KPIs), ambulatory surgery centers (ASCs) gain greater control over their revenue cycle performance. This allows for faster identification of shortcomings that can reduce revenue and profits while enhancing the ability to implement data-driven solutions to resolve problems.
This second article in an ongoing series about improving ASC KPIs focuses on two metrics with similar qualities: specialty volume trending and payer volume trending. Note: Access the previous article on days to bill and days to pay.
Why you should monitor these KPIs
By trending the case volume of each of its specialties, an ASC can determine potential scheduling issues and future (projected) revenue. A center may find itself in line with its total projected monthly volume, but if volume of a higher paying specialty is lower than projected, net revenue will be impacted. Since this KPI requires comparison of multiple specialties, it does not apply to single-specialty ASCs.
Similarly, trending the case volume of each payer or financial class can also help identify potential scheduling issues and determine future revenue. A center may be in line with its total monthly payer volume, but if the volume of a higher reimbursing payer is lower than projected, net revenue will be impacted.
Since specialty and payer types vary by center, so will the benchmarks for these KPIs.