Case Study: Florida Ambulatory Surgery Center

OVERVIEW

This multi-specialty surgery center was struggling to maintain a steady revenue stream. Serbin was engaged to provide a revenue cycle evaluation and recommendations.

SERBIN INVOLVEMENT

Evaluation of the business office functions revealed the following:

Lower than normal fee schedule
Few managed care contracts
Current managed care contracts with poor terms
Inexperienced revenue cycle team
Insufficient insurance verification
Inaccurate coding
Insufficient financial policies

SERBIN DIFFERENCE

The ASC's governing body engaged Serbin to provide revenue cycle management. Within a few months, Serbin accomplished the following:

Revised fee schedule to reflect current fees prevalent in area and established a minimum fee
Assisted in reviewing and renegotiating managed care contracts for better rates
Assisted in negotiating additional managed care contracts
Provided facility with business office policies and procedures, including financial policies
Provided forms, tools and education to scheduling, insurance verification and patient financial counseling personnel
Provided compliance policies and procedures
Increased revenue and decreased days in accounts receivable (A/R) through Serbin's optimized coding and efficient revenue cycle management