The revenue cycle management of a company involves the process of billing, coding and collecting payments for the medical services provided. Payments are primarily in the form of reimbursements from commercial insurance and governmental payers, but the payer mix can vary depending upon the healthcare business.
Efficient revenue cycle management is integral to all healthcare companies to ensure that reimbursements are paid timely and with regularity. Improvements in the management of the accounts receivable can shorten the waiting period for collections, while also reducing the number of rejected insurance claims.
Revenue cycle management consulting assists healthcare business owners in providing recommendations on ways to improve their overall revenue collections.
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5 Keys to Effective Healthcare Consulting
By Gregory Seigel, J.D., LL.M.
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