Revenue cycle management (RCM) is the comprehensive payment process employed by healthcare facilities, facilitated by medical billing software.
It tracks patient care episodes starting from registration and appointment scheduling, extending to the final payment of balances, ensuring accurate identification, collection, and management of revenues from patients. Efficient RCM also offers additional benefits, such as a structured, proactive approach to identifying and addressing potential compliance issues like fraud, waste, and abuse.
The term billing refers to the creation of clean claims to seek reimbursement from insurers and generate bills for patients.
An Accounts Receivable (AR) caller is an individual responsible for monitoring unpaid insurance claims and the receivables owed to the organization by insurance companies. Their role is crucial in expediting the reimbursement process, ensuring a shorter turnaround time for payments.
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