Tim Fuchs

ASCs can't afford to be reactive.

So the centers that win are the ones that continuously monitor that financial performance.

They pinpoint those issues early and adjust quickly.

And here's a couple areas where they can really stay ahead.

And I would say really focusing on data and understanding data, not just waiting a month to do it, but on a daily basis and understanding how to take that, analyze it,

and react to it is really important you really should be looking at your daily cash and where that acceleration is coming from or where opportunity is to increase that and you can do that by really tracking your denial trends by payer and cpt

Your author is authorized versus unauthorized cases.

Cash per case by specialty, really looking at your AR aging, and then your net collection rate too is really important.

Your outcome there is really that you're spotting revenue leaks before they become write-offs.

Another big part of that too is really establishing a tight front-end process.

70% of downstream revenue issues start before the patient enters the building, which is a fascinating stat that a lot of people aren't aware of.

So ASCs must have an automated eligibility and benefits review, really have a bulletproof process when it comes to authorization workflows, and then having an accurate patient estimates and a pre-service payment strategy because the patient is ever becoming a bigger portion of the payer.

And then a tight financial counseling process too for those high deductible patients.

So really the outcome there is you're going to have fewer denials, faster payments, and less bad debt.

And then you really need to understand your case mix and your profitability by surgeon.

So not all cases or surgeons drive the same financial outcomes.

So ASCs should be tracking your profit margin by surgeon, your implant profitability, OR utilization, and really understanding your high cost outlier cases.

and breaking that out by specialty too.

So you're really looking for that you can optimize your block time, renegotiate supply costs, and really grow profitable service lines.

Yeah, some of those factors are really interesting right now.