A healthcare revenue cycle management system (RCM) is a financial procedure that makes use of billing software to track each step of the patient care system from registration to the payment of the last dollar. It works ideally with a doctor appointment reminder system
to help the administrative staff keep track of the movement of patients in and out of the clinic.
For a medical practice to be declared successful, we not only have to consider the quality of service offered but also the financial bit. A health provider or clinic must be able to execute efficient and accurate billing processes to either the patient or their insurer. And this is where a revenue cycle management system comes into play.
As stated earlier, RCM is a process that finally translates into revenue for the medical organization. For this to happen, personal data from the patient must be captured (together with the insurer’s), codes must be generated. This implies that the organization must have a coding and billing system that is centralized.
It is quite the process. If you have a… Read more “What Is Healthcare Revenue Cycle Management?”