Medical billing is key to keeping your revenue cycle running smoothly. When done right, it helps you get paid faster, lowers the risk of claim issues, and keeps your practice running smoothly.
What Is Revenue Cycle Management (RCM)?
Revenue Cycle Management (RCM) is the financial foundation that supports every healthcare practice, keeping the entire operation running smoothly. It involves a comprehensive process of tracking and managing a patient’s journey through the healthcare system—from the very first appointment to the final payment. This journey includes every touchpoint along the way, from scheduling and insurance verification to coding, billing, and ultimately, receiving reimbursement.
The RCM process ensures that each stage is accurately handled: patient information is correctly captured, services are appropriately coded, claims are properly submitted, and payments are tracked and posted. By maintaining precision at every step, RCM helps prevent delays, errors, and discrepancies, ensuring that your practice receives the appropriate reimbursement for the care provided.
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