By: Pearl Walia Revenue Cycle Management and the Current Landscape of Lost Revenue Revenue cycle management (RCM) refers to the financial process used by healthcare organizations to track and collect incoming patients, and encompasses the entire revenue lifecycle: from the initial patient scheduling to the final payment collection. Deficiencies in an organization’s RCM processes such as timeliness, accuracy and missing documentation can lead to lost revenue. According to a report by Change Healthcare, healthcare providers lose approximately $262 billion in revenue every year due to payer denials. Payer denials stem from a variety of reasons including discrepancies in an organization’s…
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