Revenue Cycle Management In Healthcare
Revenue cycle management rcm is the financial process utilizing medical billing software that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance.
Revenue cycle management in healthcare. Revenue cycle management process in healthcare. The goal of healthcare revenue cycle management is to develop a process that helps organizations get paid the full amount for services as quickly as possible. Healthcare revenue cycle management is the financial process of collecting payments for medical bills to generate revenue for a healthcare organization. Rcm combines administrative data such as a patient s personal information insurer name and treatment codes with financial billing information.
Estimates suggest that this industry will grow by 12 4 percent until 2026.