Alephmed Insurance Management

Alephmed Insurance Management One stop for all healthcare claims managment from Approvals with Payments

22/09/2023

♻ What is Revenue Cycle Management (RCM)?

Revenue cycle management (RCM) in healthcare is the business process that enables organizations to be paid for providing services.

RCM also helps healthcare organizations improve their cash flow, and improve staff performance and patient experience.

Revenue Cycle Management software enables the providers to correctly bill the insurance and patients for the services provided, address any claim denials, and implement deep analytics to find leakages in revenue generation and plug the same.

🔰 Benefits of Revenue Cycle Management
◻ Improved Cash Flow
◻ Increased Revenue
◻ Enhanced Patient Experience
◻ Enhanced Compliance
◻ Improved Efficiency
◻ Better Data Management

🔰 Revenue Cycle Management Services
Revenue Cycle Management (RCM) services are a set of activities aimed at managing the financial aspects of healthcare services, from the moment a patient is seen for a service to the final payment for that service. Although practices have differences in their workflows, the main steps are the same.

They include:
◻ Patient Scheduling and Registration
◻ Eligibility Verification and Prior Authorization
◻ Patient Visit and Care Delivery
◻ Clinical Documentation
◻ Charge Capture and Charge Entry
◻ Coding
◻ Claim Submission
◻ Payment Posting and Reconciliation
◻ Denial Management

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