Health centers with strong revenue cycle management (RCM) are consistently the highest performers on financial, operational, quality, and satisfaction measures. Effective RCM involves understanding and managing the individual segments of the patient encounter process as a connected system. Capital Link’s Strategic RCM Services provide training and technical assistance services for health centers to improve financial stability and operating performance.
What is the Revenue Cycle?
The revenue cycle starts when a patient books an appointment and includes all administrative and clinical functions, processes, and technology associated with a patient encounter.
The billing department is often the focus for many health centers, however, the ultimate capability to effectively bill and collect on claims is determined by many functions that occur before coding and financial processing and reimbursement begins.
What is Effective Revenue Cycle Management?
It starts with the patient.
All staff must perform effectively to ensure the success of the overall revenue cycle. With a shift toward new reimbursement models and the growth of insured individuals, health center staff is faced with understanding and managing individual segments of the entire process including:
Collecting amounts for which patients are financially responsible
Fully understanding insurance plans
Coordination of benefits
Defining medical necessity
Understanding the importance of the demographic and insurance information they collect and record
Well-trained staffed, documented policies and procedures, and a succinct understanding of roles and responsibilities and the effects on other functions within the cycle are critical.
How Can Capital Link Help?
Capital Link helps health center staff to improve and proactively manage revenue cycle performance.
Through innovative solutions including educational trainings for everyone from front desk staff to the C-suite as well as hands-on, customized technical assistance, Capital Link’s services:
Provide expertise in implementing ready-to-use ideas, best practices, and tools for health center efficiency and optimization
Offer a comprehensive understanding of influences on RCM processes
Identify processes that result in increased efficiencies and an improved bottom line.