accounts receivable healthcare

How Revenue Cycle Management Improves Hospital Profitability?

Revenue Cycle Management (RCM) is one of the most critical functions in modern healthcare systems. It encompasses every administrative and clinical function involved in capturing, managing, and collecting patient service revenue. When implemented efficiently, RCM can dramatically enhance hospital profitability by minimizing revenue leakage, improving operational efficiency, and maximizing reimbursement. Understanding Revenue Cycle Management Revenue Cycle Management begins the moment a patient schedules an appointment and ends when the healthcare provider receives full payment for services rendered. The key stages