Improve Your Revenue Cycle Performance
Graduate from ‘good enough’ to ‘great’
BY ANGELA MATTIODA
To get paid, ASCs must perform a series of functions, including insurance verification, authorization, chart prep, dictation and transcription, coding, claim submission and payment posting. When centers complete these in a reasonably efficient manner, the revenue cycle should generate enough income to cover expenses, give employees occasional raises, make periodic new investments and deliver consistent distributions. All in all, these sound like acceptable results. ASCs, however, do not need to settle for a revenue cycle performance that is just “good enough” when greatness might be not that far out of reach.