Medical Economics March 25, 2025
Errors in coding, delayed claim submissions, or ineffective patient collections can result in significant revenue losses, impacting a practice’s ability to invest in staff, technology, and patient care.
Effective revenue cycle management is essential for the financial health of any medical practice. At its core, RCM encompasses the entire financial process of a patient encounter—from appointment scheduling and insurance verification to claims submission, payment collection, and denial management. When executed efficiently, it ensures that a practice is reimbursed accurately and promptly for the services it provides.
For independent physicians and small practices, strong RCM processes are particularly crucial. Unlike large hospital systems with dedicated billing departments, smaller practices often operate with lean administrative teams. Errors in coding, delayed claim submissions,...
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