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Frequently Asked Questions
Revenue cycle management (RCM) in healthcare is the process by which practices manage administrative and financial functions including revenue generation, billing, and claims processing and payment. RCM is a holistic approach that can augment staff experience to improve operations, financial performance, and practice patterns.
Effective RCM allows healthcare providers to work at the “top of their license” by freeing up their time to focus on patient care and outcomes. Additionally, it enables providers to:
- Reduce costs and improve efficiency
- Augment staff and access expertise
- Increase revenue yield
- Understand and improve performance under VBC engagements and improve access to those APMs
- Demonstrate improved performance under both VBC and fee-for-service reimbursement models
RCM can be improved through a deeper understanding of the processes of reimbursement for high-cost procedures and drugs and streamlining the day-to-day administrative tasks and complex calculations of a value-based revenue cycle. By doing this, you can boost collections, accelerate the billing process, and find hidden growth potential. At Integra Connect, we ensure a strict SOP is agreed upon with our clients to ensure timely billing submissions, rapid payment posting, and immediate follow-up by Accounts Receivable on denials.
There are several ways to measure performance. Three metrics that practices should prioritize monitoring include:
- Charges vs. payments
- Days to bill
- Days in Accounts Receivable