Operational Processes are the backbone of the Revenue Cycle.
Healthcare Revenue Cycle Management refers to all the administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue in a healthcare organization. The full revenue cycle starts from the moment a referral is made, or an appointment is scheduled and ends only when the full balance of the claim is paid or resolved. This revenue cycle is vital to hospitals and health systems in the U.S. Still, it’s riddled with challenges and inefficient processes that lead to increased denials, write-offs, and a higher cost-to-collect. With a thorough understanding of what healthcare revenue cycle management is, a description of the many functions and processes, and an exploration of new, effective solutions, healthcare providers can optimize their revenue cycles and improve the healthcare experience for all.
With the right people, processes, and technology in place, an optimized revenue cycle reduces denials, write-offs, and cost-to-collect, and increases the timely intake of revenue. Our decades of expertise in the Medical Billing, we have constant requirements in the following areas: