What is Revenue Cycle Management?

Unlimited Financials is the leading revenue cycle management solution for specialty healthcare

Overview of Revenue Cycle Management

Revenue cycle management is the system through which a healthcare organization records the revenue they receive from patients and their insurance companies. This includes the entire process from the patient’s initial appointment setting to receiving payment on the final bill.

Revenue cycle management has many components and is often complicated, as patients often share the cost of care with insurance companies.. They may need care that can last many months or even years. It is also highly regulated, which means the healthcare provider is responsible for ensuring they adhere to all legal guidelines. 

Implementing the right revenue cycle management at your practice is essential to ensure your specialty healthcare organization is fairly compensated for the life-saving services you provide. 

Challenges of Revenue Cycle Management in Specialty Healthcare

Specialty healthcare organizations face unique challenges when it comes to RCM. Certain services may not be covered or only partially covered by insurance. Healthcare providers may need to get prior approval before providing service. You may also need to work with various specialists to provide care, and ensuring that all providers are properly compensated can be challenging.

Benefits of Revenue Cycle Management Software

In specialty healthcare, having the right software can make your job much more efficient. RCM programs are designed to improve cash flow and revenue and increase point-of-service collection.

RCM software can also help your administrative team submit and track more clean claims to insurance companies, understand why a claim was denied, determine patient responsibility, and more. It can also save your staff time, allowing them to get more done. 

Why Choose Unlimited Systems?

Unlimited Systems has been a leading healthcare software solution provider for almost twenty years. Our revenue cycle management software has a 93% clean claims rate, a 90% success rate for point-of-service collections, and improves staff efficiency by 35%. 

How Much Does It Cost?

Our RCM software is an excellent investment into the efficiency of your healthcare organization. Give us a call to find out how affordable it can be.

Get More Efficient Revenue Cycle Management Today

If you are ready to improve the efficiency of your billing department, give us a call. We’ll be happy to tell you more about our RCM software and other healthcare solutions.