Revenue Cycle ManagementSTRATEGY AND TACTICAL PLAN
A well-run RCM system can add millions of dollars to the business and avoid many of the pitfalls relative to the tedious processes involved.
A well-run healthcare business wants to maximize its net collections and optimize AR days. However, from patient registration to insurance verification to coding to claim filing to correcting EOBs to resubmitting claims to copays to deductibles... to final payment (lastly) is a mind-numbing and time-consuming process.
Patients clearly don’t understand the complexities involved in dealing with their insurance company and healthcare practices often lack qualified personnel in order to decrease the collection agonies.