Issue link: https://beckershealthcare.uberflip.com/i/1013711
19 Executive Briefing Technology's role Software tools, automation, increased security and analytics all play an important role in speeding up the billing process and improving profitability. For example, deploying the right technology allows the transcription and coding process to be completed in 12 hours, which allows bills to be sent out an average of three days faster and bolsters cash flow in high- volume centers. Technology also powers applications that allow business office staff to complete chart packs ahead of surgery dates, which prevents delays. It also allows staff to perform quality checks on data in advance of surgery. If patients have not provided the necessary information, an automated system sends electronic reminders to patients requesting missing demographic information and other details necessary to file a claim. Typos are another area where technology provides valuable assistance. Transposing numbers and other data entry errors on claim forms can cause rejections and delays. Software-enabled quality checks on the front end of the process can eliminate virtually all claims rejections. Customizable smartphone apps also allow physicians to both streamline and speed the transcription process and access their schedules — all in one place. For business office staff, cloud-based storage creates a central repository for all documentation necessary for coding and billing, streamlining the process and providing access to all documents. These efforts also eliminate the need to store expensive forms and files: A single case can cost a high-volume center $4 in administrative, supply and storage fees per month. Technology can also expand and enhance a facility's analytics and reporting capabilities. Generating monthly and ad hoc reports, especially from unintegrated systems, can pull business office staff away from critical tasks. These general reports also fail to identify trends and do not track key performance metrics that help decision makers understand how such information affects revenue. IT security is also a top concern among healthcare executives — and for good reason. A recent Healthcare Information and Management Systems Society survey of nearly 250 industry decision makers found that online threats pose a consistent source of angst, with 75 percent indicating that "their organizations experienced a significant security incident in the past 12 months." The survey also found, "The top threat actor was the online scam artist involved in activities such as phishing and spear phishing (29.6 percent). Still others indicated that negligent insiders were responsible for the most significant security incident (16.4 percent) or hackers (15.9 percent). Inasmuch as hackers (e.g., cybercriminals, script kiddies, or otherwise) have been in the news this past year, it is interesting that this was not more of a predominant trend." How secure are your IT systems? If you're working with a vendor, you may not know. So it's important to ask and make sure these systems adhere to industry standards. Security is another area that underscores the importance of utilizing a single RCM provider. With a single provider, a facility can integrate security features into every aspect of the business. From a user standpoint, a single provider also allows all IT functionality to be integrated through a single interface. For example, physicians and staff can use a single smartphone app to access a facility's schedule and determine whether the patient's benefits have been verified. If not, they can also send a text message or email to patients instructing them on what to bring on their date of service, as well as letting them know how much they'll need to pay out-of-pocket for the procedure — all with the peace of mind that comes from knowing communications are compliant and secure. In today's rapidly evolving healthcare landscape, providers looking to tackle challenging market forces must embrace technology. By assimilating Surgical Notes' products and services, ASCs have access to an enterprise revenue cycle solution geared toward maximizing profitability, physician disbursements and business office efficiency. Surgical Notes continues to provide exceptional client care and to develop cutting-edge technology solutions that the largest management companies and over 20,000 healthcare providers trust to strengthen their financial performance. Contact us today for a complimentary revenue cycle assessment. n References 1 Deloitte 2017 survey of US health system CEOs. Surgical Notes, a leading provider of ASC technology solutions for over 20 years, is trusted by the largest management companies and over 20,000 providers. Surgical Notes is the only ASC software provider able to offer a totally integrated revenue cycle management solution, from procedure to collections, resulting in immediate operational and financial improvements. Our scalable solutions include transcription, coding, billing, document management and chart automation, and central billing office workflow automation.