RCM Challenges Faced By Hospitals
Hospital Revenue Cycle Management is a financial process in the health care services that utilizes medical billing system to track patient care - from registration to appointment scheduling and the final payment of a balance. It unifies the clinical and business sides of healthcare by coupling administrative data, such as the patient’s name and other personal information with the treatment he or she receives and their healthcare data. Here are a few things involved in revenue cycle management: 1. Preregistration: This involves the collection of information about the patient such as the insurance coverage before a patient goes into inpatient or outpatient procedures. 2. Registration: Collecting subsequent information about the patient during the process to establish a medical record number and meet various regulatory, clinical and financial requirements. 3. Charge capture: This process involves rendering medical services into billing charges. 4