The revenue cycle, in the parlance of clinic administrators, describes the totality of the steps necessary to collect full payment for patient services performed. RCM refers to the business side of your practice—from verifying patient insurance eligibility to submitting claims to receive health plan payments and billing patients. Although, patient care will always be your top passion and priority; however, an efficient revenue management system is critical for your practice’s financial health and sustainability. We take a total quality management approach in managing and maximizing your reimbursements. Since each step of the revenue cycle is connected, when providing a service which encompasses the entire cycle we ensure continual improvement, eliminating potential sources of error. In doing so, we enable a practice to truly focus on patient care, without the distractions of CPT codes and diagnosis codes, payer portals, authorization or insurance verification departments, or tedious payer interactions. As receivables age, they become less collectable. In our experience, you lose near about 15% of the value of your receivables for every 30 days of age. Compared with traditional medical billing, our effective revenue cycle management shortens your revenue cycle (i.e. reduces the number of days between service and payment), meaning you get paid faster, it also means you collect a greater portion of the money you’ve earned.
