A number of studies this century have found that administrative expenses account for roughly 20 percent of total national health care expenditures. Leaving this work to a specialized company like AllThings Must Have Consulting can save you money and valuable time to spend on your competitive advantage: delivering healthcare and medical services. Continue reading or call AllThings Must Have today to learn more about our revenue cycle management and how it can benefit your bottom line. Our courteous representatives are ready to take questions and address any concerns you might have. We look forward to hearing from you.
Before we get to revenue cycle management, let’s go over the revenue cycle itself. In short, it is the entire life cycle of a patient’s account from creation to payment. The revenue cycle begins with the rendering of medical services into billable charges and ends with the payment of those services. The last thing a healthcare organization wants is to provide medical services and not be paid. This is disastrous for the viability of the organization.
Revenue cycle management is the process of calculating, managing, and collecting the healthcare practice’s revenue from payers. These payers can include insurance companies, government agencies, and the patients themselves. Successful revenue cycle management is essential for the financial viability of a healthcare practice or facility. Poor billing and collections practices can have you working for nothing.
Another benefit of successful revenue cycle management is that it allows you to deliver quality care. Leaving the revenue cycle management to a reputable company like AllThings Must Have Consulting allows you to focus your time and energy on delivering better quality, thereby improving your reputation and revenue prospects. In short, revenue cycle management helps your bottom line and top line simultaneously.
AllThings Must Have Consulting is a premier business with over a decade of experience working with healthcare providers, health insurance companies, government agencies, and customers. Our specialists and consultants are experienced, background checked, and regularly trained to deliver top-quality service for our clients. We will help you incorporate best billing practices and prevent leakage points in the revenue cycle so that you can get as much of what you are owed – all within the scope of laws and regulations.
Call AllThings Must Have Consulting today to speak with one of our friendly representatives to learn more about our services. We are happy to answer any questions and address any concerns you may have.
