Ambulatory Surgical Centres (ASCs) have a major role to play in the healthcare industry. The dynamic environment of this industry has initiated new challenges and issues that have reduced margins for service companies. The reimbursement rates are fluctuating and that has led to the movement of physicians towards hospitals. Providing cost-effective care is also a major challenge and revenue is a major deterrent for business continuity. Many ASCs have merged into hospitals and some have even closed down due to the inability to meet these challenges.
Major two challenges that ASC’s have are:
- For a similar procedure, ASCs are reimbursed at roughly 60 percent of the rate of hospitals. For Hospitals, this was a primary motivating factor in acquiring off-campus ASCs.
- Hospitals and ASCs reimbursement methods are different. Procedures are differentiated under different coding groups performed at hospitals and ASCs. These codes are complex and create difficulties when claims are underpaid for ASCs.
ASCs also face competition from hospital units that are far ahead in terms of optimization, service excellence, and technology. In order to manage these risks, ASCs can opt for professional services from RCM experts to help them attain superior patient experience. This will clear up the administrative hassles, errors, delays, and denials. It has a multiplier effect on your revenue generation, better reimbursements, and cash flow.
Knack Global has an expert team specializing in healthcare sector and having intensive understanding of the ASCs workflow. With over a decade of experience and serving ASCs across the US, we are technologically equipped to meet your challenges. We are here to optimize business opportunities and eliminate the risks involved.
We can help you deliver excellence in your services while we take care of the tasks that bother you most.
- We help you get maximum reimbursements from your insurance providers
- Our expertise in EMR implementation will benefit your business
- Support for compliances and any updated reforms
- Recovery of receivables and better follow up
- Effective Denial Management
- Real-time tracking system for deductibles and fee schedules
- Accurate coding and audits to check for compliances
- Generate patient statements and records with better accuracy
- Custom generated reports and analysis
Knack Global not only specializes in coding and billing but also assimilate the deep insights across the entire process. We closely monitor the trends and patterns to give you better action plans.