The healthcare industry is a dynamic field that poses increasing challenges for healthcare providers in effectively managing their revenue cycle. One viable solution is to collaborate with a competent Revenue Cycle Management (RCM) company to streamline and optimize the revenue cycle process. However, it is crucial to note that not all RCM partners are equal in terms of their capabilities and quality of services. Traditionally, […]
There is a notable trend in the migration of specialized medical procedures from hospital settings to outpatient facilities, such as ambulatory surgery centers. These procedures include complex orthopedic, spinal, and cardiology surgeries, among others. The driving factors behind this shift include cost savings, technological advancements, convenience, safety, and positive outcomes. This transition is benefiting patients, healthcare providers, and payers alike.] The Centers for Medicare and […]
Gone are the days when revenue cycle management was simply about collecting payments from patients. Rather, it is now an essential tool in any healthcare organization’s marketing strategy to amplify all sources of revenue. Among these sources are private medical insurance, government funding (Medicare, Medicaid, CHIP, and military health insurance programs), and patient out-of-pocket payments. A few private hospitals and clinics are also able to […]
If you work for a hospital or health system, you’ve likely heard the term healthcare revenue cycle used around your place of employment. But what exactly is this process? And why do hospitals need to track all administrative and clinical data? In an era of increased complexity within the healthcare industry, it is vital to have a better understanding of the healthcare revenue cycle management […]
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