🏥 Healthcare Revenue Cycle Management (RCM)
Healthcare Revenue Cycle Management (RCM) is the administrative and clinical process that begins with a patient's appointment scheduling and ends when the healthcare provider receives full payment for services rendered. It encompasses all the administrative and financial functions that are necessary to capture, manage, and collect patient service revenue.
Effective RCM is vital for the financial health of any healthcare organization, as it ensures timely and accurate reimbursement while minimizing compliance risks.
🔄 The Eight Stages of the Revenue Cycle
RCM is a continuous, multi-step process. It is often segmented into stages occurring before, during, and after patient care.
A. Front End (Before Service)
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