Revenue Cycle Management
The Revenue Cycle is a critical component of a modern healthcare system. It’s the process by which a healthcare provider generates revenue from the services provided to their patients. This revenue is then used to support the ongoing costs of providing those services. In a perfect world, the Revenue Cycle would be a seamless and automatic system, turning blood draws and urine tests into revenue as soon as they’re performed. The revenue cycle is the complex network of activities and people involved in managing a patient’s health care. The revenue cycle management (RCM) suite of applications provides a common platform for clinicians and other members of the health care team to record and communicate patient information, such as medications, visits, tests and procedures. The data from the RCM applications is used to generate bills for patients and to coordinate care and payments. This centralized platform improves access to patient information and speeds up the revenue cycle. The re...