Is your revenue cycle management strategy giving you satisfactory returns? Most ASC’s lack the required skill and expertise for proper, accurate and transparent billing. Revenue Generation Service Companies provide the much needed expertise and manage the billing segment for the ASC. AllianceMed has a team of qualified and experienced staff to handle the various segments of ASC billing and coding.
Improving bottom lines has several aspects and AllianceMed helps you to explore each one to increase revenue from your current patient fold. Managing your revenue cycle redefines the need for billing and coding accuracy which will bring about quicker reimbursements from insurance companies, thereby curtailing additional expenses.
- Billing accuracy: ASC billing includes ensuring that the bill has been compiled with accurate information pertaining to the relevant treatment of the patient. Omitting patient care details could result in reduced billing thereby culminating in a revenue loss for the ASC. Transparency at every level assists in improving billing accuracy.
Coding: All medical procedures are coded for reimbursement purposes. The reimbursement is issued in accordance to the medical procedure code. Incorrect coding could result in lesser reimbursement thus resulting in a financial loss to the medical center. Over billing could lead to penalty.
Quicker reimbursement: Reimbursement from insurance companies can be hastened with billing transparency. Clarity and billing accuracy results in quicker reimbursements thereby reducing the manpower and man hours spent on each claim. Follow up claims could take a while and is not cost effective in the long run.
Outsourcing ASC billing to A Revenue Generation Services Company is the best revenue cycle management strategy. It will help in proper utilization of resources and curb redundant expenses. AllianceMed helps ASCs to redefine their revenue cycle management and escalate their revenue generation model using industry unique strategies.
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