Hospital & ASC Anesthesia Billing Explained
A majority of hospitals and ambulatory surgery centers are missing an opportunity to collect earned revenue associated with their anesthesia services.
For example, a hospital performing 5,000 cases per year, could be missing nearly $1,500,000 per year.
The evolution of the Outpatient Perspective Payment System (OPPS) continues to drastically change the landscape of healthcare reimbursement, both eliminating and creating revenue streams.
One such revenue stream commonly disregarded by hospitals is anesthetic revenue. Due to the low dollar value and high volume nature of anesthetic transactions, it historically was difficult to achieve a return on investment of accounts receivable resources.
As a result of over a billion dollars in anesthesia and anesthetic reimbursement experience, we have successfully engineered a system to capture this anesthetic revenue stream without any additional cost to your facility. Our service is not intrusive on any of your current billing processes, does not require additional hospital resources, and as a standalone service eliminates any administrative oversight.
Common result(s) from our service:
* Increased revenue from anesthesia expert resources concentrating on reimbursement for drugs utilized in anesthesia.
* Eliminate subsidization of anesthesia departments.
* Minimized expenditures on drugs by accessing group discount purchasing organizations.
* Monitoring distributor and producer pricing schedules for optimal inventory cost management.
To help your finance team gain a better value for the revenue impact we are referring; simply download our one-page survey and my team will be happy to complete a complimentary anesthetic revenue forecast along with a recoverable estimate for your facility’s historic cases.
Time truly is money, especially due to the fact that with every day that passes, your facility foregos the ability of capturing historic revenue, due to timely filing constraints of the third-party payors.
If you have any questions and/or concerns regarding the survey or any of our services, please do not hesitate to call us directly at 877-358-9819 or email me via our firstname.lastname@example.org email address.
Typical Scenario: An inpatient procedure is completed and the hospital will bill their facility fee, the surgeon will bill their professional fee and the anesthesiologist will bill their professional fee.
Missed Opportunity: The hospital’s billing service assumes that all of the anesthesia related items are already included in those fees and not aware that many items are able to be billed individually. Since these items are typically smaller dollar amount items, they fall under the hospital’s write off amount (typically set around $500); thus never collected.
The Dollar Amount: Take the number of cases your facility performs per year and multiply it by your own write off policy amount (typically $500 per case). A portion of that dollar amount could be added back into your bottom-line this year.