Having confidence that you are collecting the revenue you are owed quickly and efficiently, allows you to dedicate more time to other priorities – like finding growth opportunities and enhancing patient care. Prioritize these three key strategies to optimize your center’s Revenue Cycle Management.
Submit Clean Claims
Clean claims – those submitted with complete documentation and without any errors – are central to a healthy revenue cycle. Delays and denials occur when you include information that is incomplete, incorrect, or illegible.
Double-check common claim errors, such as: date and location of service, health care provider, codes and modifiers, and prior authorization information. Submit claims to your ASC’s payers, ensuring that you are up-to-date with all of the most recent payer policies and state and federal regulations. Because it’s easy to lose track of your ASC’s many in-progress claims, you need a system that helps you organize, track, and follow up on pending claims throughout their life cycle.
Get Fast, Accurate Transcription
An efficient Transcription service allows your ASC to expedite the claim submission and reimbursement process. It’s important for your center to partner with a transcription company that can turn around error-free reports quickly. With MedTek’s solution, once the dictation is received, the report is transcribed and the case is coded within one day, and the claim is submitted within two days. That results in an average reimbursement time that is 10 days faster than the industry standard.
Streamline Billing Processes
Billing is a complicated process that requires exceptional attention to detail. Many ASCs outsource their billing and overall Revenue Cycle Management because of this complexity. MedTek’s certified billing experts provide the highest rates of accuracy; limiting denials, increasing first pass rates and ensuring all revenue is collected. Our billing services integrate with our transcription and coding solutions, and claims can be submitted as quickly as 48 hours after the procedure.