For behavioral health and addiction treatment programs, efficiently managing accounts
When it comes to managing the financial aspects of a healthcare organization, it's important to understand the distinct roles of medical claims billing and revenue cycle management. Medical claims billing primarily focuses on submitting and tracking insurance claims for services provided to patients. This process involves coding procedures and diagnoses correctly, verifying patient coverage, and ensuring timely payment from insurance companies.
On the other hand, revenue cycle management (RCM) encompasses a broader spectrum of financial activities that go beyond just billing. RCM involves optimizing the entire revenue cycle of a healthcare organization, from patient scheduling and registration to claims submission and payment posting. It also includes processes for denials management, eligibility verification, and patient collections to maximize revenue and minimize financial risks.
When it comes to managing the financial aspects of a healthcare organization, it's important to understand the distinct roles of medical claims billing and revenue cycle management. Medical claims billing primarily focuses on submitting and tracking insurance claims for services provided to patients. This process involves coding procedures and diagnoses correctly, verifying patient coverage, and ensuring timely payment from insurance companies.
On the other hand, revenue cycle management (RCM) encompasses a broader spectrum of financial activities that go beyond just billing. RCM involves optimizing the entire revenue cycle of a healthcare organization, from patient scheduling and registration to claims submission and payment posting. It also includes processes for denials management, eligibility verification, and patient collections to maximize revenue and minimize financial risks.
