ASC’s Fragmented Approach to RCM
Traditionally, ambulatory surgery centers have used a fragmented approach to revenue cycle management, with the majority of centers relying on multiple systems to pull data. Unfortunately, this approach typically results in a surface-level understanding of A.R. While perhaps able to illustrate specific points in time, this approach does not speak to the complete overall health of an organization. Often dependent on which canned reports are at their disposal, the outcomes usually feel disjointed and leave ASCs grappling with how to best move forward with the data at hand.
While other pockets of the healthcare industry are further along in how they approach data consolidation, such as large-scale health systems operating in acute care, ASCs have lagged behind in the adoption of new methodologies and technologies. in2itive is aggressively working to help ASCs catch up.
Data Storytelling in A Single Pane of Glass
With a focus on providing consolidated data, in2itive’s “single pane of glass” RCM approach makes sure that regardless of your starting point relative to the software your organization uses or the size of your ASC, we have a unified view of all data in one central location. This allows teams to see trends and manage A.R. more effectively by pinpointing issues. To pave the way toward this single pane of glass approach for ASCs, in2itive developed a proprietary Account Management System (AMS) that:
- Enables categorization of aging into distinct segments
- Allows for detailed analysis of issues at hand
- Facilitates clear identification of the number of accounts and associated dollar amounts
We also have strategic partnerships with third-party providers to further bolster our offering of cutting-edge clearinghouse support and ASC-focused EMR support. These seamless technology integrations along with in2itive’s focus on leveraging AI tools and automation leads to thorough, transparent consolidation. Following this data consolidation, our team of experts places a human lens on the data available, providing you with actionable insights and next steps that, over time, lead to accelerated payments and reduced revenue leakage.
In short, in2itive uses technology and data automation tools combined with our expert human strategic assessment to help you clearly understand the story your data is telling us.
From Understanding to Results
To articulate this story, we use three different types of data analytics, with an emphasis on the third type: descriptive data, predictive data, and prescriptive data.
- Descriptive Analytics: Provides for an understating of the past.
- Predictive Analytics: Seeks to forecast future outcomes based on the data.
- Prescriptive Analytics: Extends beyond predictive analytics by specifying both the actions necessary to achieve predicted outcome and the interrelated effects of each decision.
Unlike most data analytics that focus solely on understanding the past (descriptive analytics) and forecasting future outcomes (predictive analytics), in2itive uses our human element with long-standing experience to do a prescriptive analysis, assessing the best strategy for your ASC’s unique situation and desired outcome. Our cutting-edge technology, proprietary AMS, and strategic approach designed for long-term success ensure the best possible revenue cycle management outcomes for your ASC, reflecting the forefront of industry innovation.
By partnering with in2itive and deploying this unique combination of single pane prescriptive analytics and recommended actions rooted in human touch, ASCs experience an average 45% decrease in days in A.R., and an average of 70% of claims paid within 12 days.
Minimizing Unnecessary Actions: A Case Study
In fact, using our tech- and automation-empowered single pane of glass approach combined with our human lens, we helped one large multispecialty surgery center find a path toward greater ROI. The path incorporated a few key changes, including adjusting the timing on claim follow-up. While we typically followed the long-standing industry standard of touching accounts 30 days after date of service, we learned that a high percentage of those claims actually adjudicated naturally by 41 days. This made it an inefficient touch to follow up any earlier. Informed by this new insight, we extended the follow-up threshold and minimized ineffective account touches. This change enabled more meaningful interactions and achieved greater operational efficiency by allowing staff to refocus their efforts on tasks with a greater ROI (full case study coming soon).
A Window into the Here and Now
While this technology and our third-party partnerships continue to evolve, in2itive clients are already experiencing bottom-line improvement. With the right mixture of AI, automation, and human experience, we are transforming how ASCs effectively use consolidated and informative data storytelling to obtain key insights that drive better decision-making.
Buckle up and join the second longest-standing billing company in the industry as we harness human-centered, cutting-edge technology and automation to modernize ASC revenue cycle management and change the trajectory of your ASC. Want to learn more about our single pane of glass approach? Reach out to in2itive today to discover how to accelerate payments and reduce revenue leakage.
