Best Practices For Assessing The Effectiveness Of Your Revenue Cycle Operations

In today’s specialty provider market, most organizations are struggling with how to decrease expenses and increase the financial resources available for program development and service delivery. Improving the collection rate for rendered services is a frequently overlooked method to achieve this. Revenue cycle management (RCM), as it’s referred to, is becoming even more critical as health plans dominate public and private payer markets, requiring providers to build or enhance their RCM operations. It is common for provider organizations in our field to have collection rates of only 80% (effectively a bad debt ratio of 20%), meaning that an . . .