Smith+Nephew entered into a strategic partnership with National Medical Billing Services to provide revenue cycle management (RCM) services to Ambulatory Surgery Centers (ASCs) across the U.S.
The venture is part of the company's previously-announced Positive Connections program, a turnkey support service for surgeons seeking to move orthopedic cases into outpatient settings. The approach may be of particular relevance to ASCs as they navigate challenges arising from the global COVID-19 pandemic.
Among other solutions, the initiative intends to:
- Compress the revenue cycle timeframe
- Improve cash flow and compliance for orthopedic procedures
- Aggregate clinical and financial data into one repository to better define and communicate quality and value for payors and patients
- Conduct customer education events to continuously update surgeons and owners on ever-changing financial constructs and regulations
- Use analytics tools to provide detailed information, insights and advice to ASCs
"By combining our leading product portfolio with the decades of RCM experience held by the National Medical team, we are uniquely positioned to address the complex revenue cycle challenges that frustrate ASC owners," said Laura Rector, Vice President of Ambulatory Surgery Centers at Smith+Nephew.