Revenue Cycle Management

One hot topic in many healthcare organizations today is revenue cycle management. We typically do not get paid when services are rendered, nor do we get the full cost of providing that care. As a result, we incur costs for facilities, supplies, and labor that must be covered. The ultimate goal of revenue cycle management is to convert services into the correct amount of cash reimbursement. This can be a bit difficult for medical practices. One reason is that providers often forget it is a business.

• Discuss the two reasons that support the importance of provider involvement in revenue cycle management.