Streamlining RCM in Small Clinics:
Overcoming Hidden Bottlenecks
In today's complex healthcare environment, specialty clinics face unique revenue
management issues. Specialities including neurology, orthopaedics, dermatology, and
cancer each have unique financial issues that make efficient revenue cycle management
healthcare software necessary rather than optional. However, long reimbursement cycles
and denied applications provide formidable challenges for special clinics, increasing
administrative costs. These challenges lead to cash flow issues, operational inefficiencies,
and sustainability risks.
Because optimization must occur at every level, from patient intake to final reimbursement,
revenue cycle management requires more than simply invoicing patients and collecting
money. This article lists the main revenue cycle management bottlenecks that special clinics
face and provides practical solutions.
Further Read: Unlocking Revenue Growth: The RCM Process Flowchart That Solves
Claim Denials & Payment Delays
Revenue Cycle Management in Healthcare: Simplified Guide
for Beginners
Revenue Cycle Management (RCM) refers to the end-to-end process healthcare providers
use to capture, manage, and collect patient service revenue. It spans three key phases:
front-end, mid-cycle, and back-end.
●Front-End: Patient engagement, scheduling, registration, pre-registration, eligibility,
and enrolment are among the subtasks that comprise this step.
●Mid-Cycle: The second RCM sector is dedicated to revenue integrity through clinical
recording, medical billing and coding, and health information management.
●Back-End: Revenue management responsibilities, such as AR management, claims
settlement, rejection management, claims filing, and patient collection, are included
in the last portion of the cycle.
In recent years, RCM has seen tremendous change. Integrations, automation, and the use
of innovative technology may all contribute to the development of a cohesive ecosystem.
Streamlining the revenue cycle is a challenge for several medical practices, hospitals, and
health systems. These challenges lead to more payment delays and rejections.
Organizations must thus bring in a new era of RCM that makes use of all these technologies.
Further Read: Introducing Provider Revenue Cycle Management – Must-Have RCM
Features for Maximum ROI