Overview of hospital revenue cycle managment

In the medical world, hospital revenue cycle management (RCM) refers to all of the processes that healthcare companies employ to bill people for services. The procedure starts with patient registration, followed by charge capture, claim submission, remittance processing, follow-ups, and patient collections. By improving and streamlining all revenue-related operations, hospitals and clinics can increase revenues. 

This is possible with the aid of hospital revenue cycle management software for the healthcare sector. Companies that build software products can look at a hospital's workflows and develop RCM software to automate and streamline processes. This minimizes the chance of rejections and denials by lowering the likelihood of errors.