What is revenue cycle management or RCM in healthcare?
Revenue cycle management is a software aids in the management of billing, reimbursements and data analysis across the care continuum. It is widely used for healthcare activities such as scheduling of appointments, medical billing, keeping a track of the patient’s registration data and tracking final payments.
For instance, in June 2017, SSI Group introduced the latest Analytics 2.0 that enables to deliver real-time information through a web-based dashboard. This software helps individual to visually interact with data for easier insights into revenue cycle performance and enable them to analyze data effectively. However, skilled professionals are required to manage these array of complex functions. Lack of trained persons in developing regions would, in turn, hamper the industry growth to some extent.