What is Revenue Cycle Management?
Billing isn’t revenue cycle management… revenue cycle management is often confused with billing. Sure, a medical billing company can send out claims on your behalf, but that will not help you identify and stop the revenue leaks in your current processes.
Practice management software isn’t revenue cycle management… practice management software is a tool, not a billing solution. PMG’s team of CHC revenue cycle experts understands how to optimize your Practice Managment system and make it work for you.
Revenue Cycle Management (RCM) is… includes every step of the claim lifecycle. From the front desk all the way through payment posting, PMG looks at every portion of your billing process as an opportunity to increase revenue by identifying and then correcting the root cause of the problem.
Results of a PMG optimized revenue cycle include:
- Increased revenue
- Decreased days in AR
- Reduced denials
- Higher average encounter rates
- Accelerated and steady cash flow
- Increased clean claim rates
- Lower processing costs per claim
Every one of PMG’s clients has experienced increased revenue. Why shouldn’t you be next?