Understanding RCM in a Medical Center

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Revenue Cycle Management (RCM) encompasses the entire financial process of a medical center, from patient registration to final payment collection. It includes crucial steps such as insurance verification, claims submission, billing, and revenue reconciliation. An inefficient RCM process can lead to financial losses, compliance risks, and patient dissatisfaction.
An RCM audit checklist https://pharmbills.com/blog/what-is-audit-in-healthcare-revenue-cycle-management-rcm-the-ultimate-guide-to-rcm-audits helps medical centers unbilled services, denied claims, or coding errors can lead to significant revenue losses. A systematic audit can pinpoint these issues and facilitate corrective actions.

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