Revenue cycle management (RCM) in healthcare means a streamlined process of billing and payment collections. To achieve revenue targets, and optimized revenue cycle must feature seamless payment claim processing, medical coding, charge capture, payment posting, explanation of benefits (EOB) reconciliation, denial management and account receivable services. The revenue cycle workflow starts from the patient’s billing …

Read moreHealthcare Revenue Cycle Management Market Growth And Demand

Revenue cycle management for healthcare providers was considered as optimization of clinical processes and enhancing administrative productivity. The approach is more focused on improving those core functions that collectively contribute to maximizing collections and improving the revenue gains. However, the current market trend in healthcare is more patient-centered and is inclined towards creating a uniform …

Read morePatient’s Journey and the Revenue Cycle Are Deeply Connected

What is revenue cycle management means for physician credentialing practices? The revenue cycle for a physician practice means tracking payments and revenue collection from patients. It starts with registration and scheduling of patients, proceeds to insurance verification, co-pay collection, handling health records, coding of clinical procedures performed, charge entry, claim scrubbing and submission, payment posting, …

Read moreThree Factors That Affect the Revenue Cycle of Physician Practices