First few Article Sentences
As the focus on containing health care costs intensifies, effective revenue cycle management (RCM) plays a key role in the overall success of a health care organization. It requires a coordinated effort that begins with the front desk associate, extends through to the providers, and ends with accurate payment for services.
RCM is an extensive process with multiple components, and it presents many opportunities for error, especially during affiliation. Investing in strong RCM provides a set of checks and balances that alerts executives if cash flow is reduced or other monetary operational changes occur. The result? Changes can be made when necessary, and delivery of care and payment for services can continue uninterrupted.
For hospitals considering strategic partnerships and affiliations, ensuring the strength and efficiency of the RCM process is crucial. An effective RCM system monitors the financial stability and activities that keep the facilities and affiliated groups running smoothly, and it ensures a steady and accurate stream of revenue. Assigning resources to building a strong RCM system in the early stages of an affiliation saves providers time and financial resources in remediation.