Monitoring each patient’s revenue and patient care episodes is a fundamental process for healthcare businesses to determine their financial progress. By incorporating the ideal revenue cycle management (RCM) practices and software, this financial process becomes less of a hassle while your company maintains profitability. Medikey will help clients understand the internal and external factors that significantly affect RCM.
According to the Healthcare Financial Management Association (HFMA), the following aspects are involved in the revenue cycle:
- Charge Capture
- Claim Submission
- Coding
- Patient Collections
- Preregistration
- Registration
- Remittance Processing
- Third-Party Follow Up
- Services Utilization Review
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We believe every goal is attainable, especially if businesses partner with the most dedicated management services providers. Contact us today for an insightful discussion about how we can help your business realize long-term goals.