Revenue Cycle Management
Understanding the healthcare revenue cycle
Revenue cycle management (RCM) is the process of handling billing, payment processing, and revenue collection. A revenue cycle is a repeating process that begins with billing a customer and ends with collecting patient payments or writing off the bill. For some organizations, such as retail stores, this can be achieved instantaneously. In others, such as healthcare, it is a more complex process.
Sagewood Medical Practice Management’s RCM team delivers a broad range of services to it’s valued customers encompassing all of the aspects of managing a practice. From the initial implementation of the system to the all-important contact with the patient to the collection of the final dollar, we work with each Client to address and improve the people, processes and technology that impact their Revenue Cycle.
How Does Revenue Cycle Services Fit Into Health Systems?
Finally, the billing team should collect and analyze data from the RCM software. RCM systems can minimize the number of errors, increase the likelihood of payment, and avoid aging accounts receivable. Additionally, it strives to increase claims efficiency while reconciling costs against revenues to optimize cash flow.
Sagewood Medical Practice Management's Revenue Cycle Management Brings Passion And Knowledge To Assist Clients In Resolving The Wide-Range Of Challenges Facing Medical Practices Every Day.