Revenue Cycle Management (RCM)
Revenue cycle management (RCM) is the comprehensive process utilized by healthcare systems in the United States and other countries to track revenue from patients. This lifecycle begins at the initial point of contact—such as an appointment or clinical encounter—and continues through every stage until the final payment of a balance is received.
The scope of RCM encompasses all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue. As a standard component of health administration in various regions, it integrates multiple operational steps to ensure that medical services are accurately documented, billed, and paid for, thereby maintaining the financial stability of healthcare providers.
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