The Power of Analytics Harness data to improve your billing process BY DOUG OAKLEY

Using logical analysis of data, data analytics pro- vides insight into pat- terns and other use- ful information needed

to make better business decisions. Analytics can help ASCs gain valu- able business insight by effectively leveraging the myriad data they are already collecting. New payment models and the sheer amount of data contained within clinical management systems and electronic medical records sys- tems make it increasingly difficult for ASCs to effectively manage their billing processes. As a result, cen- ters might lose money. Data analyt- ics software is becoming increas- ingly popular for its ability to help billing staff identify common and not so common billing problems.

Find the Cause of Billing Delays If you are not monitoring your bill- ing activities, you are likely los- ing money. When billing errors and delays go undetected, their costs can add up quickly. Data analytics pro- vides the necessary insight to find inconsistencies, trends and other important information to quickly identify and resolve errors as well as prevent future recurrences. Consider, for example, accuracy

of information and its impact on bill- ing. It is essential that all information is entered completely and verified for accuracy immediately after a proce- dure. If this is not done, there will be a relatively large amount of claims that will be returned. Simple errors such as transposed insurance identity numbers, date of birth or social secu- rity numbers can result in delays of up to several weeks by the time the


If you are not monitoring your billing activities you are likely losing money.”

—Doug Oakley, SourceMedical

claim is sent back, the error is iden- tified and corrected, the claim resub- mitted and payment received. Using data analytics you can quickly review returned claims over a period of time to determine if inaccurate or incom- plete information is an ongoing issue. With information in hand, staff issues can be dealt with and procedures set up to minimize or avoid repeat denials resulting from human error. Data analytics also can help to identify physician-related documen- tation delays. For example, the speed

at which a surgeon dictates operative notes can significantly impact reim- bursement. While most surgeons opt to do dictation notes prior to leaving the center following a procedure, oth- ers prefer to wait until they are back at the office the next time. In some instances, this can delay billing up to 45 days. With information in hand, unnecessary delays can be properly addressed with the physician(s) to show the true costs of these delays. Without this information you cannot effectively solve the problem. Simply

The advice and opinions expressed in this article are those of the author’s and do not represent official Ambulatory Surgery Center Association policy or opinion.

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30