Where Does Your Revenue Cycle Management Need to Be?
Your Revenue Cycle Management Status Healthcare providers faced a tidal wave of challenges at the beginning of the COVID-19 pandemic, many of which endure consequences today. It’s not surprising that the revenue cycle did not evade these challenges. The shutdown and transfer to a generally virtual care world presented substantial bedlam that the revenue cycle had never encountered in the past. Those employed in the revenue cycle moved to practically 100 percent remote working quite suddenly, billing and claims activities were turned on their head among payer and government changes. Moreover, budgets were gashed as elective surgeries came to a standstill to focus on the growing pandemic. Revenue cycle management (RCM) is one of the most important processes in any medical provider practice. Deprived of a robust RCM procedure, practices are in danger of losing out on reimbursement and experiencing perilous decreases in revenue. So, what’s happening in 2022 that practices need to