Revenue Cycle Management

The Future of Fintech in Healthcare

Image Source: Pexels Financial technology, or fintech, is a prominent part of every industry. In healthcare, digital finance systems may just mean the difference between accessible payment outcomes for patients or a continuation of the complexity and difficulties that have plagued the system. Advancements in fintech are making a world of innovations possible. These advancements

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How To Increase Revenue And Patients To Your Medical Practice

With the ever-increasing competition in healthcare, patient acquisition strategies are critical to a profitable medical business.  According to recent research, healthcare providers spent more than $2.1 billion on digital advertising in 2017, and the number is expected to reach $2.9 billion by 2021.  These statistics highlight the dire need for attracting new patients. Indeed, a

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How to Boost Profitability through Revenue Cycle For Your Medical Facility

A revenue cycle is a system used by healthcare facilities to track revenue or money paid to the facility by a patient for services offered. It involves receiving, recording, and managing client revenue by the healthcare facility. Before looking at how to boost profitability, it’s crucial to address the problems that face the healthcare sector,

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RPA and Cognitive Automation: A Foundation for Meaningful Revenue Cycle Transformation

By Joe Polaris, senior vice president of product and technology, R1 RCM Don’t let the term “artificial intelligence” (AI) mislead you. Even when individuals have some knowledge on the subject, too often AI conjures images of robots taking over the world — or beating us at our own Jeopardy!® games. In reality, AI should simply

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Building Your Revenue Cycle Roster: How Running An NFL Offense is Like Managing Your Hospital’s Reimbursement

Sports (specifically football) and healthcare seem to be on opposite ends of the spectrum, but there are more correlations than you think. Not to say the healthcare industry involves running full speed and attempting to tackle someone who is twice your size, but they both require a system where you need to surround yourself with

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What Does Revenue Cycle Management (RCM) Mean To Your Practice

What Is Revenue Cycle Management? For the healthcare industry, a revenue cycle entails the process of generating revenue, making payments, and processing claims. The revenue cycle management is well rounded software designed to effectively manage the medical billing process of the healthcare practice. It efficiently tracks billings, payments, and claims. It also takes care of

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