In the healthcare field, revenue cycle management is crucial. This process, often shortened to RCM, ensures that billing and collecting payments are streamlined. It leads to efficient and cost-effective operations that maximize revenue.
Do you want to know why RCM is so important for your business? Here's what you should know about the value of this kind of system.
What Exactly Is Revenue Cycle Management?
RCM is a multi-step process that begins with patient registration, insurance verification, and preauthorization of services.