Physicians Practice April 14, 2021
What physicians and practice managers need to know.
Revenue cycle management (RCM) describes the part of healthcare administration that focuses on tracking and optimizing revenue collection. While RCM encompasses a number of processes, it is commonly thought of in terms of software systems.
RCM software is big business. One industry observer estimates the RCM software market size to be over $52 billion, expected to grow to $114 billion by 2025.
Revenue cycle management is most commonly seen in the healthcare industry specifically because of the extreme and increasing complexity of healthcare billing and reimbursement.
Benefits of Revenue Cycle Management
There are two primary benefits of an effective RCM system.
First, there are significant cost reductions associated with automating and...
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