Surgical Notes Turns Around Chicago ASC's Revenue Cycle Performance
SNBilling revenue cycle management service delivers fast and long-lasting financial improvements to Rush SurgiCenter
Surgical Notes, a nationwide provider of revenue cycle services and solutions for the ambulatory surgery center (ASC) and surgical hospital markets, announces the publication of a new case study highlighting the success of the company's SNBilling revenue cycle management (RCM) service in helping significantly improve the financial performance of Rush SurgiCenter in Chicago.
The multi-specialty ASC that's affiliated with Rush University System for Health was working with another ASC billing company. When the center began experiencing a decline in financial performance, punctuated by alarming trends in key revenue cycle metrics, its leadership began the search for a new RCM partner. This eventually led Rush SurgiCenter to Surgical Notes and SNBilling.
SNBilling manages all aspects of the ASC billing process, from insurance verification and authorization through complete adjudication of the insurance claims and patient billing. SNBilling's expert teams monitor all critical ASC revenue cycle key performance indicators to identify problems negatively affecting revenue and profits and apply data-driven changes that achieve lasting financial and operational improvements.
Once Surgical Notes was brought on board, Rush SurgiCenter saw its downward-trending financial performance improve sooner than expected. As the ASC's Director Wendy Stark-Riemer said in the case study, "We started to see our bills get out the door much faster, which was wonderful since the faster they get out, the faster we get paid. Then we saw our days to pay come down. These are really important metrics."
That was only the beginning. Within just the first six months, the partnership between Surgical Notes and Rush SurgiCenter led to these noteworthy improvements:
- Days to bill reduced from 10 to 5 days
- Days to pay reduced from 52 to 28 days
- Payments received for cases over 90 days old increased from $175,000 per month to $880,000 per month
- Accounts receivable greater than 90 days reduced from 41% to 24%
Now in the third year of the partnership, Rush SurgiCenter's revenue cycle performance and metrics are consistently strong. This is a testament to Stark-Riemer and her team, said Randy Bishop, President and Chief Executive Officer for Surgical Notes.
"I was very excited to have the opportunity to work with Wendy and the Rush SurgiCenter staff," Bishop said. "Wendy is a leader in our industry and brings extensive knowledge to our partnership. Our teams have worked hand in hand from the beginning. The Rush staff ensures we always have the information and access needed to effectively support the ASC's revenue cycle and drive improvements that positively impact the bottom line. One would expect nothing less from a center known for delivering safe, high-quality surgical care."
The SNBilling team's performance coupled with the trust that Surgical Notes has earned led to Rush SurgiCenter expanding the partnership. "It's great to know that we can count on Surgical Notes," Wendy Stark-Riemer said.