Download - Improving the Financial Health of Your ASC
![Page 1: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/1.jpg)
Improving the Financial Health of Your ASC
BRINGING IN THE CASH
![Page 2: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/2.jpg)
• Maximize Cash Collections
• Create Tools • Implement & Understand
Internal Controls• Empower your staff• Outsource sooner than
later
Lets Talk About How To:
![Page 3: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/3.jpg)
Maximize The Amount of Cash Collections
![Page 4: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/4.jpg)
Team Effort = Success
Scheduling VerificationRegistrationClinical ParticipationCodingBillingCollections
![Page 5: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/5.jpg)
Create Tools to Motivate Employees to Participate in
Cash Collections
![Page 6: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/6.jpg)
Cash Collection Goal
Goal $ 400,000
Actual Collections
Month to Date Weekly
Total % of Goal MTD
Week 1 $ 32,476 $ 32,476 8.1%
Week 2 $ 166,270 $ 133,794 41.6%
Week 3 $ 306,000 $ 139,729 76.5%
Week 4 $ 420,740 $ 114,741 105.2
%
Final Week $ 420,740 $ - 105.2
%
Over (Under) Goal $ 20,740
105.2%
![Page 7: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/7.jpg)
Over the Counter Cash Collections
DateExpected
Cash Actual Cash Variance
Percentage Collected
12/3/2007
$1,145.03
$1,061.78
$83.25 92.73%
12/4/2007
$660.65
$660.65
- 100.00%
12/5/2007
$262.90
$237.90
$25.00 90.49%
12/6/2007
$2,235.80
$2,193.50
$42.30 98.11%
12/7/2007
$3,338.30
$1,256.80
$81.50 93.91%
Weekly
$5,642.68
$5,410.63
$232.05 95.89%
![Page 8: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/8.jpg)
Current Health of A/R Benchmark
Days AR Outstanding Comparison to Benchmark 38 40 days
% of A/R over 90 Days Comparison to Benchmark 25% 17% or less
Bad Debt Rate Comparison to Benchmark 2.5% 2.2% or less
![Page 9: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/9.jpg)
Implement Internal Controls for Tracking and Follow Up
![Page 10: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/10.jpg)
Patient Account Payment Expected
Number Patient Name Amount Payment
62799 HERMAN J $88.69 $88.69
62989 CHARLOTTE K $300.00 $300.00
62975 MARY W $699.60 $874.50
63028 LAURA J $828.23 $1,020.25
62891 SHERI H $816.20 $1,020.25
62847 CHANA R $787.05 $874.50
62901 ANA A $486.20 $572.00
62919 QUENTIN M $572.00 $572.00
62974 DONNA C $874.50 $874.50
62848 ANDREW T $514.80 $572.00
62978 DEBRA H $1,229.60 $1,537.00
![Page 11: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/11.jpg)
Net Revenue to Cash Collected YTD
Month Cases Net Revenue Cash Collected Variance
Jan 272 $231,712 $235,493 $3,781
Feb 325 $247,604 $240,859 ($6,745)
Mar 335 $282,804 $275,384 ($7,420)
Apr 361 $299,180 $289,798 ($9,382)
May 330 $272,573 $285,862 $13,289
Jun 307 $243,078 $246,039 $2,961
Jul 328 $254,226 $253,835 ($390)
Aug 370 $260,641 $248,438 ($12,203)
Sept 325 $235,122 $235,093 ($29)
Oct 321 $247,779 $257,485 $9,706
Nov 345 $297,865 $296,987 ($878)
Dec 351 $301,234 $287,485 ($13,749)
Totals 3970 $3,173,819 $3,177,789 ($21,059)
![Page 12: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/12.jpg)
Empower Your Staff with Payer Knowledge
![Page 13: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/13.jpg)
PayerMedicare Medicaid Aetna Cigna BCBS
Contract Eff. Date 4/1/2004 N/A 3/1/2005 7/1/2007 12/1/2002
Grouper
1 343 266 425 487 387
2 459 357 565 655 541
3 525 408 645 749 618
4 648 504 800 925 734
5 738 574 910 1,053 870
6 845 661 1,045 1,242 994
7 1,024 796 1,260 1,461 1,207
8 997 778 1,220 1,431 1,178
9 1,378 1,071 1,505 1,052
![Page 14: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/14.jpg)
Outsource Sooner Than Later
![Page 15: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/15.jpg)
NEW COLLECTION TECHNIQUE
Payment Please…….
![Page 16: Improving the Financial Health of Your ASC](https://reader035.vdocuments.net/reader035/viewer/2022062423/56814413550346895db0b24c/html5/thumbnails/16.jpg)
Just like the attention we give to the health of our patients, we must give attention to the financial health of our facility.