Proper revenue cycle management (RCM) is key to longevity in your healthcare company. From the first moment, a patient comes to you for treatment, they enter your collections cycle, which involves registering them for service, submitting their claims to their insurance company, and ultimately collecting payment for their care.
This extensive process can burden those who navigate it, especially when they have other patients, services and filings to take care of during the day. Furthermore, even one small error in the paperwork can negate the work, forcing them to start from the beginning yet again to ensure adequate payment. That is why many healthcare companies are recognizing the benefit of outsourcing RCM to talents outside their organization.
