BC Advantage - 2022 Issue 5

Improving Accounts Receivable for Effective Revenue Cycle Management

Collecting amounts that have been billed or accounts receivable is essential for successful revenue cycle management. While healthcare is about using the necessary resources to help people maintain their health, it is a business like any other, and patients are the consumers. Practices, hospitals, clinical laboratories, and other facilities need to stay financially viable to serve their communities. That's where healthcare revenue cycle management (RCM) comes in. RCM is about developing, implementing, and managing processes to get paid for patient services and stay financially healthy.RCM is a complex task that involves several manual and electronic processes, including...

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