Revenue
cycle management (RCM) is the process that manages claims processing, payment
and revenue generation in the field of healthcare industry. It uses the modern
technology to keep track of the claim process which makes easy for the healthcare
provider to follow the same while doing the billing and addressing the related
issues which allows for a steady stream of revenue.
Some
of the benefits of using the RCM in the healthcare industry are:
The RCM
process involves keeping track of claims in the system, making sure that the payments
have been collected and addressing the denied claims, which can cause up to 90 percent of missed revenue
opportunity.
·
Many healthcare providers are still struggling with the
number and relationships of payment options that the modern patients bring to
the table. RCM provides an opening to those healthcare institutions to support
transactional activities with an eye towards pre transactional issues.
·
Healthcare
revenue cycle management solutions maximizes the revenue capture and streamline
the billing and collection process with electronic claim processing, direct
entry of Medicare claims, automatic secondary billing, remittance posting,
document image retrieval, contract and denial management, and financial
analysis.
·
This system allows consumers to research
healthcare costs, schedule appointments, receive online statements and make
electronic payments as well.
· This system allows consumers to research
healthcare costs, schedule appointments, receive online statements and make
electronic payments as well.
‘Futuristic Giga Tech Pvt. Ltd’ is one of the Best RCM
company in Bangalore which offers revenue
cycle solutions to all segments of the provider groups including, small-medium
or large sized hospitals, provider groups, individual providers, for-profit and
not-for-profit hospitals, and for medical billing companies.
