Realize Financial Efficiency and Patient Satisfaction

Revenue Cycle Management is the process of getting the medical service provider paid for its services. It includes tracking all flows of payments and information that allows the insurance companies of patients to make payment decisions. It starts with capturing the appointment information and ends when the medical service provider has received all contractual payments due.

Since third parties insurance companies pay for most healthcare in the United States, the process of Revenue Cycle Management ensures that these third parties insurance companies receive all information about the care episode in an accurate and timely manner so that the medical service provider can get paid quickly and accurately.

Revenue Cycle Management is both - a science and an art! There are a lot of time-tested best practices that are popular in the industry, but there are things that RCM experts learn by experience and that make them better than others. Things like managing charge masters, patient access controls, tight control on DNFB, AR follow-up using automation, etc. are things that can make a significant difference to your Revenue Cycle.

Traditional tools like EHR, coding assistance software, practice management tools, billing software are commonplace, but now, modern technologies like AI/ML and RPA power up the RCM process to make it work in an adaptive manner 24x7.

There are optimization opportunities across the revenue cycle spectrum including patient access, better documentation, case management, HIM, billing, receivables tracking and customer service.