Revenue leakage is more common than you think. It affects 42 percent of companies at some point and occurs whenever a business fails to collect the revenue. It could happen because healthcare providers are under-billed or fail to bill patients appropriately. Revenue leakage may occur because of usage-based billing, a-la-carte services, or unique plans. Manual record-keeping systems also put your practice at risk.
If you run an ambulatory surgical center, leakage can result in massive revenue losses of five to seven percent, especially when denials are high. Using ASC billing services can protect you from this problem.
What is the automation of RCM services?
Revenue cycle management (RCM) automation combines robotic process automation and machine learning to target the common problems in ASC billing. Using intelligent billing platforms is an excellent start to preventing revenue leakage. Work with RCM providers that offer solutions for revenue cycle management automation.
How can automated ASC billing services help?
ASC billing services maximize your potential with accurate and efficient usage-based billing that eliminates revenue leakage. An automated platform ensures that your practice is not leaving money on the table.
How can you automate ASC billing to remove revenue leakage?
RCM providers apply revenue cycle management automation to eliminate revenue leakage. Below mentioned are ways to do that:
· Coding and billing services – Service providers offer ASC billing solutions that include medical coding and billing services, which involve efficient billing protocols to maximize physician’s reimbursement.
· Real-time reporting and analytics – Legacy manual systems prevent transparency, resulting in revenue leakage. Automation allows relevant departments to find errors before they worsen.
These are some ways that ASC billing and automation can help identify problems and ensure timely correction and resolution. Your practice can improve its revenue and patient satisfaction by eliminating revenue leakage.
Plutus Health Inc. provides HIPAA-compliant revenue cycle management automation you can trust to improve your ASC billing. Our ASC billing services combine robotic process automation and machine learning to resolve your issues and eliminate difficulties in realizing income.