Improving Anesthesia Reimbursement
Anesthesia reimbursement is often mistakenly considered something that is static. We hear all too often from administrators who say, “it is what it is,” when referring to their lackluster anesthesia reimbursement rates. At CCI Anesthesia, we routinely roll up our sleeves to transform poorly performing anesthesia services and leave no stone unturned when it comes to anesthesia reimbursement. Our experience in this area results in significant savings for our clients.
Inspect What You Expect
Following up on receivables is a crucial aspect of running a successful anesthesia practice. Payments can fall through the cracks and claims processing can fall behind schedule. Establishing a system of checks and balances is essential, and a detail-oriented person should be in charge of monitoring receivables. Working with experienced anesthesia billing specialists who know how to track down missing payments can make a huge difference in improving anesthesia reimbursement rates.
Renegotiate Reimbursement Rates
Negotiating with commercial payers takes time, skill and experience. At CCI Anesthesia, we regularly renegotiate reimbursement rates with commercial payers to ensure reimbursement is commensurate with rising costs of living. Hard data and analyses are the keys to proving value to commercial payers. Without a dedicated anesthesia management group capturing and consuming applicable data, it may be difficult to persuade commercial payers to increase reimbursement. Preparing well-crafted negotiation proposals backed by carefully researched numbers is our specialty.
Expedite Credentialing Processes
Your anesthesia management group should have a clear understanding of your facility’s unique credentialing process and work aggressively to enroll anesthesia providers with various payers in a timely manner. It is not uncommon for a newly enrolled provider’s services to go several months without being reimbursed if there are credentialing delays. Keeping the credentialing process moving swiftly and in an orderly fashion matters when it comes to reimbursement. At CCI Anesthesia, our credentialing specialists and enrollment experts work one-on-one with anesthesia providers to ensure their successful enrollment with appropriate payors.
Support Providers Through Consistent Feedback
If an anesthesia provider unknowingly makes a documentation error, our billing specialists will notify clinical leaders who can address the issue. Keeping these lines of communication open between anesthesia providers and billing specialists prevents documentation concerns from persisting. In some cases, it may be possible to improve documentation by implementing an electronic medical record system to help optimize charge capture and expedite the billing process. We are extremely experienced in implementing these systems and training anesthesia providers on how to transition away from paper charting.
Audit Yourself Often
When it comes to anesthesia reimbursement, keeping a watchful eye on outgoing documentation and incoming receivables is paramount to profitability. Letting too much time pass in between internal audits can be catastrophic if major errors occurred repeatedly or if payments were unknowingly halted or incorrect. Especially considering the potential liability involved, it is extremely important to have your finger on the pulse of your anesthesia reimbursement system. As an administrator, you should not feel as though you are left out of the loop on anesthesia reimbursement. At CCI Anesthesia, we maintain an open-book policy with our clients so that you can be kept up-to-date on the complete financial picture of your anesthesia service.
With more information about your facility, we can develop a customized plan to better support your anesthesia services and optimize your anesthesia reimbursement rates. Our specialists are standing by to help reverse any inefficiencies stifling the success of your anesthesia department.
There are many other strategies for improving anesthesia reimbursement that we would enjoy discussing with you. If you would like to speak directly with an expert on anesthesia billing and reimbursement, contact us today at 800.494.3948.