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The importance of revenue-cycle management

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revenue-cycle managementRevenue-cycle management is important

Are unpaid bills getting out of control in your practice? It may be time to implement a revenue-cycle management program such as that offered by gloStream.

Revenue-cycle management, or RCM, is the management of claims, from processing to payment. It’s a lengthy process that includes patient insurance eligibility, collecting co-payment, properly coding claims using ICD-10, making sure payments are collected and addressing denied claims.

Ensuring that you’re paid for the work that you do is a significant challenge for most health-care practices, but using technology can help. Various systems can help you keep track of the claims process at every stage, ensuring a steady stream of revenue for your practice.

If you need help, consider gloStream. We have a team of professionals including coding experts who are already familiar with the ICD-10 coding system. They will scrutinize claims for completeness before sending them to payers, then dispute and resubmit claims as necessary. They’ll also work with your accounts receivable, too.

Remember, denied claims can cause up to 90 percent of missed revenue opportunity, and with ICD-10 regulations, revenue cycle management is only going to get harder – so why not let gloStream help?

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