Florida Surgery Center
This Florida ambulatory surgery center (ASC) has been open approximately two years. The accounts receivable (A/R) had increased significantly over a six-month period — from almost $750,000 to nearly $1.6 million, an increase of more than 110%. A/R days had increased from 42 to 76 days.
There were more than 1,900 accounts outstanding. This is twice as many accounts as expected with the case volume. Some of the increase in outstanding accounts was attributable to issues with payers that switched to the Enhanced Ambulatory Patient Grouping (EAPG) System.
There was also an issue of more than 350 credit balance accounts, of which about 200 were over 90 days old.
Serbin Medical Billing began revenue cycle management in November 2017. Its goals were as follows:
- Clean up of A/R
- Research and correct applicable adjustment and refunds of credit balance accounts
- Adjust process errors — accounts that did not have appropriate adjustments to show the accurate collectible amounts
- Ongoing audits of revenue cycle process
During the first six months of Serbin Medical Billing taking over revenue cycle management, the following was accomplished:
- A/R decreased more than 33%
- A/R days decreased nearly 39%
- Collections per case increased 19.2%
- Days to bill decreased 72%