Training and Management
Revenue Cycle Management
The definition of Revenue Cycle Management (RCM) in healthcare is the process of managing your office’s claims processing, payment and revenue generation. The entire healthcare revenue cycle process includes everything from determining patient eligibility, collecting their co-pay, coding claims correctly, tracking claims, collecting payments and following up on denied claims.
Current scenarios in Health Care Revenue Cycle
UNQUALIFIED STAFF
For successful health care revenue cycle management the staff should understand the coding errors, data quality errors in patient demographics, insurance and claim processing information. A simple failure in daily job or in work flow can affect the revenue.
STANDARDIZED WORKFLOW
If the system is wrong everything will be wrong. A proper and established workflow can end up with missing steps and forgetting tasks. It can end up from increased errors and delays to getting paid.
LACK OF EFFICIENT SOFTWARE
In order to efficiently manage the revenue cycle of your office, you’ll need medical billing software or practice management software that allows you to effectively keep track of the claims process.
Wave Online curriculum of Revenue Cycle Management (RCM)
WaveOnline offers a well designed training program for Revenue Cycle Management and it covers all the aspects of health care revenue cycle management for US health care environment.
Let’s transform your revenue cycle today
When you create a high-performance revenue cycle, you’re finally free to invest your full resources into what matters most: the care of your patients.