Improving the Financial Health of Your ASC

BRINGING IN THE CASH

• Maximize Cash Collections

• Create Tools • Implement & Understand

Internal Controls• Empower your staff• Outsource sooner than

later

Lets Talk About How To:

Maximize The Amount of Cash Collections

Team Effort = Success

Scheduling VerificationRegistrationClinical ParticipationCodingBillingCollections

Create Tools to Motivate Employees to Participate in

Cash Collections

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%

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%

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

     

Implement Internal Controls for Tracking and Follow Up

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

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)

Empower Your Staff with Payer Knowledge

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  

Outsource Sooner Than Later

NEW COLLECTION TECHNIQUE

Payment Please…….

Just like the attention we give to the health of our patients, we must give attention to the financial health of our facility.