According to BeckersASC.com, Ambulatory Surgical Centers (ASCs) are in a position to be extremely successful in the coming years. Trends like the ability to expand offered procedures, increasing reimbursement for ASCs, growing consumer demand, and migrating care delivery are all weighing in favor of ASCs. However, despite being poised for even great success, it’s always critical to make sure you have your eye on your revenue cycle management to keep your ASC in the green.
In the current environment, where every expense is critical to the survival of a business, deciding whether to outsource your medical billing services or keep it in-house is a critical decision to make. The Do-It-Yourself (DIY) model with your in-house billers and coders often works for medical practices, but some providers don’t realize they have many other options besides only in-house billing staff.
Consider your current and future needs, your ability to find, train, and retain efficient and committed staff, and your bottom line when you determine which model suits your needs.
If you fail to get paid for the services and procedures rendered by your medical practice, all the effort you spend treating patients won’t keep your practice afloat. Unfortunately, according to Healthcare Finance, out of the $3 trillion plus in medical claims submitted each year, around $262 billion in claims get denied, which can do a number on your bottom line. And even when claims are recoverable, appealing claims comes with its own costs that hack into your profit margins.
As the country continues to deal with the public health emergency that’s come with the COVID-19 pandemic, telehealth is offering an excellent way for practices across the country to care for patients. Telemedicine – used for those with and without the coronavirus – offers the ability to protect high-risk patients, healthcare workers, and the entire community from the spread of the virus.
As of April 5th, more than 1.3 million cases of coronavirus have been diagnosed across the world, and more than 61,000 people have died of complications due to the virus since the beginning of this outbreak. The COVID-19 infection may cause a range of illnesses. In some patients, it presents with few or even no symptoms, while others get extremely sick. Some of the common symptoms include cough, shortness of breath, and fever.
