Essay on How Do Revenue Cycle Management ( Rcm ) Services Cost?

718 Words Oct 6th, 2015 3 Pages
The relationships between healthcare providers, patients, third-party payers and practice extender create opportunities and challenges for today’s physicians. Engaging external partners to facilitate revenue cycle management can mean the difference between a practice that enjoys a healthy financial status and one that struggles to make ends meet.

How much do Revenue Cycle Management (RCM) Services Cost?

There is not a standard fee for RCM services. Each contract is individually crafted to precisely match practice business goals, patient needs and staff resources. Contracts may cover the end-to-end revenue cycle, or provide only one service, such as coding and billing.

Are RCM services primarily focused on the billing and coding?

The life cycle for any claim starts with an initial intake, establishing a health record and patient assessment. To ensure maximum profit and productivity, RCM service providers encourage physicians and other medical providers to examine the whole process from general office processing to coding and billing, insurance company engagement, compliance reviews and post-visit follow-ups.

What does a coding and compliance review entail?

A comprehensive review answers vital questions about your operation to determine if you are coding accurately, and consistently, according to best practices. Along with other key factors, the review process examines documentation to verify the proper level of service is billed and that all professional and…

Related Documents