Healthcare revenue cycle management is the financial process facilities use to manage the administrative and clinical functions associated with claims processing, payment, and revenue generation. The process consists of identifying, managing, and collecting patient service revenue. The financial process is ...
What is healthcare revenue cycle management? Financial stability is critical for healthcare organizations to stay in the business of helping patients. To ensure profitability and financial viability, they mustproperly collect and manage revenue. Equally important is having fullvisibilityof their revenue c...
Revenue Cycle Managementis a process used by healthcare practices to ensure that patient revenue generated is accurately identified, managed, and paid for. By streamlining tasks like patient registration, insurance verification, medical coding, claims submission, and payment follow-up, RCM promotes both...
Revenue Cycle Management Definition The definition ofRevenue Cycle Management(RCM) in healthcare is the process of managing your office’s claims processing, payment and revenue generation. In order to efficiently manage the patient revenue cycle of your office, you’ll need amedical billing software...
Contract lifecycle management (CLM) is the process of managing an organization's contracts an organization’s contracts from initiation through execution, performance, and renewal/expiry. Learn about the different steps involved in the contract lifecycle
Understanding the revenue cycle process helps perioperative personnel and managers improve health care charging practices and enables them to make informed policy decisions. Integrating knowledge of the revenue cycle processes throughout an organization can improve reimbursement, improve compliance with ...
Our program helps to negotiate a contract with a supplier, finding something that is favorable both financially and logistically for your company. The contract can be signed electronically for ease and convenience and, with Contract Lifecycle Management, you can also monitor supplier compliance and man...
Inventory management is the process of orchestrating the flow of goods through a company in a continuous cycle of ordering, storing, producing, selling, and restocking. Inventory management is generally performed at two levels: aggregate inventory management and stocking location and item-level inventory...
Annual Recurring Revenue measures the total amount of recurring revenue a business is due to receive over the subsequent 12 month period. It’s a metric commonly used by subscriptions companies and SaaS companies to track the value of their current activ
CRM stands for customer relationship management, which is a system for managing all of your company’s interactions with current and potential customers. The goal is simple: improve relationships to grow your business. CRM technology helps companies stay connected to customers, streamline processes, an...