Wisconsin Surgery Center
This Wisconsin, joint-venture, multi-specialty ASC has been open approximately one year. Average case volume was about 100 cases/month. The ASC's accounts receivable (A/R) was continuing to increase and revenue was not what the owners anticipated. They requested Serbin evaluate their ASC's clinical, business (revenue cycle) and compliance practices.
Evaluation of the ASC’s business office by Serbin revealed the following:
- Low ASC fee schedule
- Using practice management software
- Insufficient and inexperienced revenue cycle management staff
- Coding errors
- No patient financial counseling or collection of patient copays, deductibles
Serbin made recommendations in each area. The ASC followed all recommendations and chose to outsource its ASC revenue cycle management to Serbin.
Through the ASC-Serbin partnership, results achieved were as follows:
- A/R decreased 25%
- A/R over 120 days decreased from 22% to 8%
- Average collections increased from $160,000 to $250,000 per month
- Average gross charges increased from $350,000 to more than $580,000
- Days in A/R decreased from 80 to 45