GENASCIS™ Introduces CompareMyASC.Com,™ A Web-Based Tool Providing Free Comparative Analysis Of ASCs' Revenue Cycle Performance.
OCTOBER 23, 2009LOS ANGELES, Calif. - GENASCIS™, the leading Revenue Cycle Management and Business Intelligence resource for Ambulatory Surgery Centers, has launched its new microsite, CompareMyASC™ (www.comparemyasc.com). The new web site is a free, online tool that provides ASCs invaluable insight into their revenue cycle efficiency by measuring several key performance metrics against industry averages and what GENASCIS has identified as best practices.
“Leveraging our proprietary ASC database--the largest single resource of its kind in the industry--CompareMyASC offers ASCs of all sizes the ability to analyze overall revenue cycle effectiveness. With this information the user can quickly uncover opportunities for improvement when appropriate,” said Kathleen Harris, GENASCIS senior vice president of sales, marketing and product management. “We believe providing benchmarking and comparative analytics ultimately helps elevate the entire industry’s performance through better understanding of best practices. As economic pressures continue driving down margins, such insight is increasingly important to the viability of every individual surgery center,” Harris said.
GENASCIS chief executive officer Ed Gallo added, “as the only single-source resource for the continuum of ASC revenue cycle management and analytics, we are uniquely suited to make CompareMyASC available to the industry we serve. The information generated by CompareMyASC might otherwise cost an ASC a potentially significant expenditure to acquire on its own. However, we are making this process available at no cost with an eye toward raising ASCs' awareness of possible fiscal shortcomings and areas needing improvement within their revenue cycles.”
CompareMyASC generates a customized GENASCORE™ for the Ambulatory Surgery Center user based on the following individual metrics:
- Net Collection Rate (As a Percentage of Expected Payment)
- First Pass Resolution Rate
- A/R Days (Net)
- Percent of A/R Greater Than 120 Days
- Average Reimbursement Per Case By Specialty (ASC specialties currently available for comparison are cosmetic surgery, gastroenterology, general surgery, neurology, OB/GYN, ophthalmology, orthopedic, otolaryngology, pain management, podiatry, urology and other)
The GENASCORE identifies the ASC's comparative revenue cycle efficiency based on its input data relative to ASC industry averages and GENASCIS best practices in each category.
“We expect to add additional comparative metrics to this web tool in the near future,” concluded Harris.
For more information on how CompareMyASC may impact your ASC, contact GENASCIS at 866.208.7348, extension 265. Or, simply visit CompareMyASC.com to measure the fiscal performance of your facility or system against both industry averages and best practices.
About GENASCIS: The company was created by integrating the services of firmly established, industry-leading business entities in the ASC space. Prior to consolidating under the GENASCIS brand, PMG Partners was the nation’s leading provider of technology-enhanced revenue cycle services for ambulatory surgery centers and specialty physicians. MEDIBIS™ designed and built the surgery center industry’s only analytical, business intelligence and benchmarking software. And GIT was widely acknowledged as the premier resource for transcription and clinical coding services for ASCs and specialty practices. Collectively, GENASCIS offers an unmatched understanding of ASC commerce, powerful proprietary technology solutions, as well as high quality in-demand human resources. With corporate headquarters in Los Angeles, Calif. and offices in San Diego, Calif. and Oklahoma City, Okla., GENASCIS has over 400 employees and currently works with more than 700 surgical centers and specialty physician practices in 44 states.