The Role of Revenue Cycle Management in Improving Patient Outcomes

Providers know that patient outcomes are dependent on a variety of factors, but most people only consider the obvious ones like how well patients take care of themselves, how effective their treatment is, and their provider’s quality of care.

nurse holding the hand of a patient on a gurneyWhile these factors are immensely important, providers may not realize that revenue cycle management (RCM) also plays an important role in patient outcomes. The revenue cycle process directly affects patient care, patient experience, and patient payments, which ties back to patient outcomes.

RCM is capable of saving time and money for providers, but here are some of the ways it can improve patient outcomes too.

Accurate Coding

Accurate coding allows patients to get the best treatment possible as soon as possible, which leads to better health outcomes. When providers code incorrectly, it stalls the treatment process, which could lead to dire health outcomes depending on the condition.

It’s imperative that providers code correctly to improve the quality of care and to collect reimbursements. It allows care to continue without any hiccups.

Efficient Billing

Billing mistakes lead to denials and treatment delays, which hurts patient care and reduces the chances of positive health outcomes. It also adds a layer of stress that the patient doesn’t need at the most critical time of the care experience.

Of course, this also leads to lost revenue, which never helps when margins are as slim as they are. To ensure the best health for your patients and of your organization, steady communication is imperative for efficient billing and collections.

Appointment Scheduling

Patient access is essential for better health outcomes, and that involves easy appointment scheduling. Providers can benefit from RCM services that offer appointment scheduling to save them time and money, but also encourage patients to get the care they need. When patients are on top of their health, providers can catch health issues before they get worse and potentially prevent them altogether.

Plus, providers can avoid denials the assistance of RCM service providers, who will verify insurance information and check prior authorization during the scheduling process.

RCM is a great tool for healthcare organizations, and it can be used to its fullest capabilities to not only help your bottom line, but help patients too.

Contact Strivant Health to see how we can help you improve patient outcomes, reduce costs and increase efficiency.

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