Revenue Cycle Management

Healthcare providers often purchase and deploy designated revenue cycle management systems to store and manage patients' billing records. An effective RCM system can reduce the amount of time between providing a service and receiving payment by interacting with other health IT systems -- such as electronic health record (EHR) and medical billing systems -- as patients move through the care process. An RCM system can also save healthcare organizations time by automating duties that were previously handled by employees. These duties include administrative tasks, such as informing patients of upcoming appointments, reminding payers and patients of an existing balance and reaching out to insurers with specific questions when a claim is denied.