How 247 Medical Billing Services Enhanced Financial Performance By Transforming ASC Billing

2. HOW 24/7 MEDICAL BILLING SERVICES ENHANCED FINANCIAL PERFORMANCE BY TRANSFORMING ASC BILLING? There are various revenue cycle management tasks that must be done, and each is critical to a center’s financial health. Even minor errors with one or more of an ASC’s revenue cycle processes can have serious short- and long-term consequences. Such consequences can range from payment delays and denials to lost payments and compliance challenges. Discover how 24/7 medical billing services improved financial performance by revolutionizing ASC billing. The story of the Ohio-based ASC was on a similar track with the suffering of thousands of dollars while operating an ambulatory surgical center (ASC) and billing. Keeping in mind the urge to deal with the consequences, the client approached and outsourced ASC billing services of 24/7 Medical Billing Services. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

3. Financial ASC Roadblocks Transformed by 24/7 Medical Billing Services: • Higher Accounts Receivable (AR) days: The average number of days this Ohio-based ASC took to collect payments for services delivered was 40 – 45 days. In fact, days in A/R are one of the primary performance indicators ASCs use. According to the research, the average days in A/R for ASCs should be around 32; otherwise, appropriate actions must be taken. • Surprise Billing: One of the most common challenges faced by ASCs is surprise billing, and so is the story of this Ohio-based client. The patients were confused about receiving additional bills from the client, even after paying their copays and deductibles. All this leads to the risk of losing patients due to unexpected billing. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

4. SECRET PROCESS FOLLOWED BY 24/7 MEDICAL BILLING SERVICES: • Perform ongoing monitoring: Continuous monitoring and benchmarking of essential cycle KPIs such as days to bill, accounts receivable days, days to dictate, and denial rate provides the ASC client with greater control over their revenue cycle performance. • Conduct revenue cycle assessments: 24/7 Medical Billing Services supplements the monitoring and benchmarking of their clients’ KPIs with revenue cycle assessments. These evaluations include a comparison of the KPIs to industry norms while considering this center’s unique characteristics to identify issues influencing cash flow. • Undergo coding audits: 24/7 Medical Billing Services also boosted the value of revenue cycle evaluation by scheduling it alongside a coding audit. While an evaluation indicated coding difficulties, a coding audit pinpointed such concerns with greater precision and accuracy. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

5. About 24/7 Medical Billing Services: 24/7 Medical Billing Services provides access to a comprehensive team of reimbursement experts, including certified coders, managed care and Medicare reimbursement experts, and experienced insurance and patient collectors. It can be challenging for centers to find competent staff to deliver the services required to maintain their coding optimal and collections updated while remaining compliant with state and federal laws. There are various revenue cycle management tasks that must be done, and each is critical to a center’s financial performance of ASC Billing. Even minor errors with one or more of an ASC’s revenue cycle processes can have serious short- and long-term consequences. Such consequences can range from payment delays and denials to lost payments and compliance challenges. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

6. CALL US TODAY : Media Contact – 24/7 Medical Billing Services, 28405 Osborn Road, Cleveland, OH, 44140 Tel: + 1 -888-502-0537 Email: info@247medicalbillingservices.com Website: https://www.247medicalbillingservices.com/ https://www.247medicalbillingservices.com info@247medicalbillingservices.com