Revenue Cycle Management Insights

Revenue cycle management (RCM) encompasses every step of the financial process in healthcare from the moment an appointment is booked through to the final payment of a bill. It integrates the business side of health with patient care, involving medical billing, coding, claims processing, and payment collection. Achieving an efficient RCM process is not without…

Maximizing collection rates is a critical component of healthcare revenue cycle management, ensuring that healthcare providers can maintain financial stability while continuing to offer high-quality patient care. Let’s dive into the revenue cycle process and discuss effective strategies essential for optimizing collections, reducing errors, and improving the overall efficiency of the billing process. Understanding Revenue…

In an era of increasing healthcare costs, strict regulatory requirements, and shifting payment models, healthcare organizations are under tremendous pressure to optimize their Healthcare Revenue Cycle Management (RCM) processes as it is pivotal for the financial viability of healthcare providers. Revenue cycle management encompasses a series of administrative and clinical functions that contribute to the…

The foundation for any financially healthy hospital or medical practice is a high-performing Revenue Cycle Management (RCM) department. While an efficient medical billing department allows providers to focus on delivering quality patient-focused care, the fact remains that every organization is only as strong as its ability to manage revenue and minimize costs. If a healthcare…

Client’s Challenge Our client’s Revenue Cycle Department was currently undergoing a period of evaluation as to the efficacy and efficiency of its processes. They decided to seek outside assistance with specific knowledge of revenue cycle management and strong leadership skills to help identify, prioritize, and implement solutions.   Our Solution Following an in-depth analysis of…

The foundation of any solid healthcare company revolves around many different things. However, highest among them is proper structure and consistent evaluation. Nowhere in a healthcare organization is this more important than in a Revenue Cycle Management (RCM) department. RCM departments need to routinely re-evaluate their operating structure to stay current with the industry and…

I am writing this insight while sitting in the comfort of my own home. My setting is quiet and bright and composed of all of the things I need to work effectively. Where I am sitting has the creature comforts and open space that I use to help keep my mind focused and sharp. But…

As a consultant within the healthcare industry, a large portion of my time is spent on the front-lines working directly with the teams and individual staff members that help deliver service to patients. The nurses, physicians, medical assistants, and various support staff are the people who have direct contact with patients and their families on…

In hospital management, “breaking even” is far too often accepted as “good enough.” However, thanks to recent national shifts in what is perceived to be the best way to compensate healthcare providers for their hard work, hospital executives and administrators can now aim for profit-oriented goals – all while optimizing and maximizing patient quality of…

Historically, patients would see a family doctor and stick with that physician out of loyalty, familiarity, and maintaining multi-generational relationships. Unfortunately, that model is quickly becoming a thing of the past. Today’s patients are opting for choosing physicians based on online reviews, which is leading to healthcare consumerism. In our modern, digital-everything society, consumers are…

Telehealth is quickly emerging as a promising new technology that is being widely accepted by both patients and providers. Not only are advances in telemedicine allowing providers to reach underserved populations and improve the experience of care for patients, but also patients are finding it more convenient and comfortable to interact with the healthcare industry…

As the CEO of John Lynch & Associates, 2019 brought immense clarity, several surprises, and ground-breaking opportunities – not only for us as a consulting company in the healthcare industry, but also for our clients who aim to provide the utmost quality care for patients. In the year to come, the healthcare industry in the…