Revenue Cycle Management (RCM) is a complete process between the first interaction with the patient to final payment of the balance. Revenue Cycle Management (RCM) over the years has gone from being administrative to a part of value-based care. Today, RCM is defined as “all administrative and clinical patient data that lead to capture, management, and collection of all revenue.”
Errors in revenue cycle management can lead to delayed or part or no reimbursement. With changing healthcare scenarios, most providers hire a revenue cycle management services company to deal with complex and regulatory oversight. RCM service company can handle the process 24/7 with certified and specialized agents and RCM technology.
According to a survey, Account Receivables in 2014, the average physician practice took 18 days to generate a claim after the date of service and had a denial rate of 11%.
We have over a team of 100+ resources working across various steps in RCM process, and they are regularly trained to keep the updated with changing reimbursement process. Working with different providers in tandem can be difficult hence we use technology to keep track of claims and AR days.
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