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The revenue cycle starts when a patient makes an appointment, and it does not end until the balance on his/her account is zero. There are many opportunities between those two events that either positively or negatively influence a clinic’s ability to collect. Understanding the total revenue cycle is the first step toward achieving maximum revenue for your practice. It is important to note that “achieving maximum revenue” does not mean you are overcharging or trying to manipulate payers.
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S T R O N G Revenue Cycle Management S T A B L E S T R A T E G I C
S T R O N G Revenue Cycle Management S T A B L E S T R A T E G I C
S T R O N G Revenue Cycle Management S T A B L E S T R A T E G I C
S T R O N G Revenue Cycle Management Why to Focus on Revenue Cycle Management? • In addition to improving financial metrics and revenue cycle management, outsourcing providers can offer advanced technologies to hospitals. An outsourcing company can, in essence, play the role of chief technology officer for a hospital. • Each hospital can decide how best to partner with outsourcing firms for revenue cycle management. • One benefit of these partnerships is flexibility. Each partnership can be tailored to the exact requirements of the hospital. Outsourcing providers can play a consulting role or manage entire processes for a hospital. S T A B L E S T R A T E G I C
S T R O N G Revenue Cycle Management S T A B L E S T R A T E G I C
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