5 Biggest Threats to ASC Independence
Millions of Americans benefit from the outpatient experience that ambulatory surgery centers (ASCs) deliver. These modern healthcare facilities are designed to provide same-day surgical procedures. However, they also face multiple threats:
- Lack of employment opportunities
Most ambulatory surgery centers operate independently from hospitals, granting them more freedom. However, this also means that they must compete directly with giants. Most physicians are choosing hospital employment instead of ASCs, slowing your growth.
In addition, not many professionals have the proper knowledge and skills for ASC medical billing, reducing the talent pool even further.
- Payer reimbursements
Generally, ASCs charge patients less. However, it’s much harder for these centers to deal with annual reimbursements as insurers change their policies.
One way to solve this is by looking into companies that provide ASC billing and coding services for help. These solutions prevent costly coding mistakes, ensuring that your future claims aren’t denied.
- Market saturation
Business owners are slowly discovering the potential of ambulatory surgery centers. Before long, the market will become oversaturated, potentially causing inefficient centers to buckle under the weight.
How can you secure your position in the industry before competitors take hold? First, you must optimize your ASC billing and ASC coding services right away. Providing high-quality ASC medical billing will draw more potential Surgeons and patients to your business.
- Mismanagement
Many ASCs still lack the experience and expertise of a hospital. Mismanagement is one of the greatest threats to your independence. That said, it’s possible to survive for the long term with the right solutions.
Industry experts suggest that you provide up-to-date risk management programs and efficient clinical systems, including proper ASC billing, ASC coding, and ASC appeals services.
- Increased regulations
Though regulations aren’t much of a threat now, they are beginning to build in the shadows. As the market becomes more saturated, the federal government will likely take steps to uncover various forms of fraud in the industry.
You must be prepared to face this threat once it finally reveals itself. Therefore, consider refining and maintaining your ASC medical billing early with the help of professional ASC billing services.
About the Author:
Gett Johnson leads a global team in 3 locations as the VP Sales- Plutus Health providing, RPA powered revenue cycle management services to healthcare organizations across 22 states in the US. Plutus Health Inc. is a 15-year-old full-cycle RCM firm specializing in medical coding & billing, denial management, credentialing, prior authorizations, AR follow-up for both medical and behavioral health specialties. As the industry experts in revenue cycle management solutions, they’ve created a unique process that combines machine learning and robotic process automation to address the clients’ most frustrating problems.
