Automating Your Coding & Billing—An Executive Checklist

Revenue cycle management (RCM)—the process of scheduling consumers, generating billing claims, billing insurance payers (or consumers), and receiving the appropriate revenue—is one of the most critical elements of keeping a health care provider financially healthy and sustainable. Unfortunately, many provider organizations have collection rates as low as 80%, which leaves $200,000 of bad debt on the table for every $1 million in potential revenues (see Best Practices For Assessing The Effectiveness Of Your Revenue Cycle Operations).

Part of the reason for this is that the RCM process isn’t simple. It can be fraught with issues that . . .