What comprises a complete ASC revenue cycle?
The complete ASC revenue cycle process encompasses many complex functions. Each is essential to securing payment for a surgery center. But due to their significant interdependence, a strong performance in one, most, or nearly all of these functions is not enough to ensure financial wellbeing. Rather, every function must thrive individually and collectively. When these processes all function well together, not only will ASCs improve collections, but the overall revenue cycle management process will accelerate.
Failing to give all of these functions the attention and support they deserve can easily lead to mistakes. Small errors may cause delays in payments while bigger mistakes typically result in an ASC losing money (potentially a lot of it) and possibly facing compliance challenges. If mistakes are made early in the revenue cycle process and not identified quickly, there will be ripple effects negatively affecting the functions that follow.
Let's break down the functions that comprise the complete ASC revenue cycle, review how they feed into one another, explore some obstacles that threaten to disrupt revenue cycle processes, and examine what ASCs need to do — whether they perform internal revenue cycle management or outsource — to achieve success.