Revenue cycle management in healthcare covers every step between a patient scheduling an appointment and the practice receiving final payment on that account. That includes insurance eligibility verification, charge capture, medical coding, claim submission, denial management, payment posting, and patient balance collection. When any of those steps breaks down, revenue slows, and in a medical […]
RCM, RCM Challenges, Revenue Cycle, Revenue Cycle Management
“Revenue leakage” describes circumstances wherein a healthcare provider has supplied care to a patient but doesn’t collect payment. In general, it happens when accounts receivable (AR) continue to be unpaid for too long and are inadvertently overlooked. The longer an account receivable remains outstanding, the less likely healthcare providers are to retrieve payment, even in […]
A/R, Healthcare, Healthcare Denials, Healthcare Reimbursement, Healthcare Revenue Cycle, Medical Billing, Medical Billing Denials, RCM, RCM Challenges, RCM Essentials, RCM Support
Your Revenue Cycle Management Status Healthcare providers faced a tidal wave of challenges at the beginning of the COVID-19 pandemic, many of which endure consequences today. It’s not surprising that the revenue cycle did not evade these challenges. The shutdown and transfer to a generally virtual care world presented substantial bedlam that the revenue cycle […]
RCM, RCM Challenges, RCM Essentials, Revenue Cycle Challenges, Revenue Cycle Management, Revenue Cycle Management Concerns, Revenue Cycle Management Issues, Revenue Cycle Optimization