What is Revenue Cycle Management for Healthcare Organizations?
At a medical practice, the “revenue cycle” is defined as beginning the moment a patient calls to make an appointment and ending when all money associated with the services rendered has been paid.Managing your healthcare organization – be it a large hospital or a single-provider practice – can be a major challenge for physicians and office staff. Poorly managed revenue can lead to a significantly lower profit margin, clerical errors, problems with insurance providers and shortage of staff to fill requirements.Healthcare revenue cycle management means taking extra measures in administrative and clerical functions to ensure that your practice is paid all money owed to you by your patients and their insurance companies, as well as ensuring that this is done in a timely fashion.
Why Choose AR Logix, Inc. As Your Revenue Cycle Partners?
Tasks associated with the revenue cycle are only increasing – and more office work can be a difficult burden for you and your staff.
- Leave revenue cycle issues to a team of experts with extensive training in the healthcare industry
- We handle insurance eligibility and verification, calls with patients, and verifying patient demographics
- We are experienced and compliant with all HIPAA requirements
- We incorporate the latest technology in your practice to allow you to easily identify proper payer class, collect more from self-pay, and assist with Charity Care eligibility
- Read our blog post about Eliminating Bad Debts with Automated Revenue Cycle Management Tools.