Inflation is making healthcare more expensive. In July 2022 the consumer price index grew by 8.5% year-over-year, while the Healthcare price index saw a 2.8% increase. Healthcare will not have an easier ride than other businesses if prices rise slowly. Inflation effects can be delayed because healthcare contracts are made in advance with both government and commercial payers. How can providers […]
The approach you are using to manage your revenue cycle provides an insight into your business and the probability of being successful in what you do. Normally this strategy applies across all industries but when it comes to the healthcare sector, it is an entirely different ball game. The revenue cycle management in the healthcare […]
Regardless of your industry, managing revenue is essential for your business to have a steady cash flow to pay for outgoing expenses. Revenue cycle management (RCM) plays a vital role, especially for hospitals and small-to-medium practices, due to the complicated billing and revenue collection process. RCM can make your practice’s success possible and help you […]
The lack of proper revenue cycle management (RCM) strategies can only lead to chaos. On the other hand, when you optimize RCM along with billing and collection processes, the challenges subside, resulting in increased revenue for the practice. The Role of RCM in the Healthcare Sector RCM deals with healthcare institutions’ clinical and business sides […]
