Within the medical field, revenue cycle management is defined as the processes and procedures related to the capture and management of revenue. While this might seem sound like a very simple and straightforward procedure, that is not actually the case. In fact, if the revenue cycle management in place is not well planned, it could cause more headache for the medical service providers.
You have to remember that revenue cycle management starts from the time the client steps into the medical provider’s office and ends when he or she has finished with the procedure and have settled all current bills. That being the case, you need to make sure that you know how to choose the right service provider for your medical business.