What is Revenue Cycle Management (RCM) in Healthcare? 🏥💰
Revenue Cycle Management (RCM) is the financial backbone of healthcare organizations. It ensures smooth billing, payment processing, and revenue collection for medical services. ✅
🔹 Key Stages of RCM:
1️⃣ Patient Registration – Collecting patient details & insurance info.
2️⃣ Insurance Verification – Ensuring coverage before treatment.
3️⃣ Medical Coding & Charge Entry – Assigning correct codes for procedures.
4️⃣ Claims Submission – Sending claims to insurance providers for approval.
5️⃣ Payment Posting – Recording payments received from insurers & patients.
6️⃣ Denial Management – Resolving rejected claims & resubmitting.
💡 A well-managed RCM system helps healthcare providers reduce revenue loss, improve cash flow, and maintain compliance.
📢 Want to optimize your revenue cycle? Let’s discuss! 👇
https://www.invicieq.com/w...
#RCM #HealthcareBilling #MedicalRevenue #RevenueCycleManagement
Revenue Cycle Management (RCM) is the financial backbone of healthcare organizations. It ensures smooth billing, payment processing, and revenue collection for medical services. ✅
🔹 Key Stages of RCM:
1️⃣ Patient Registration – Collecting patient details & insurance info.
2️⃣ Insurance Verification – Ensuring coverage before treatment.
3️⃣ Medical Coding & Charge Entry – Assigning correct codes for procedures.
4️⃣ Claims Submission – Sending claims to insurance providers for approval.
5️⃣ Payment Posting – Recording payments received from insurers & patients.
6️⃣ Denial Management – Resolving rejected claims & resubmitting.
💡 A well-managed RCM system helps healthcare providers reduce revenue loss, improve cash flow, and maintain compliance.
📢 Want to optimize your revenue cycle? Let’s discuss! 👇
https://www.invicieq.com/w...
#RCM #HealthcareBilling #MedicalRevenue #RevenueCycleManagement
05:58 AM - Feb 27, 2025 (UTC)
