Advanced Billing and Consulting Services (ABCS RCM) realizes that the average person is likely not familiar with the concept of revenue cycle management or RCM, but this concept is crucial for the financial success of any healthcare practitioner. Oregon Health and Science University defines healthcare revenue cycle management as “all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue.”
Basically, this is how healthcare providers receive payment for their services.
If this cycle is functioning correctly; the business of healthcare functions smoothly. However, when disruptions occur in this revenue cycle, these disruptions can quickly reverberate throughout the network. Problems such as inadequate cash flow, aged accounts or unresolved claims can financially damage the best of healthcare practices.
Ultimately, healthcare RCM is a principle that allows medical professionals to gain a level of efficiency and optimize their practice.
As a medical billing and healthcare workforce management company, we are proud to have provided exceptional medical billing services since 1997. Part of our success as a full-service medical billing company is due to the fact that we understand and respect the principle of RCM.
ABCSrcm offers healthcare-focused SEO/PPC services as well as website development for medical professionals. We also provide experienced medical billing, credentialing and workforce management tools (SaaS). For additional questions about this topic or other healthcare-related questions, please reach out to us.
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Healthcare RCM, ABCS