Electronic Medical Records (EMR) Software offer a wide range of features for medical practices. These features allow a range of administrative as well as clinical operations to be performed effectively and even automated in some cases. One of the functions of an EMR Software include Revenue Cycle Management (RCM).
What is Revenue Cycle Management (RCM)?
The financial course, utilizing medical billing software that healthcare organizations employ to record patient care episodes from the initial registration and appointment scheduling to the closing payment of a balance is known as Revenue Cycle Management.
Revenue Cycle Management combines the business and clinical sides of medical practice by linking administrative data, such as a patient’s name, insurance details, and other personal information, with the treatment they receive and their healthcare data.
Why is Revenue Cycle Management important?
The goal of RCM in the healthcare industry is to devise a comprehensive technique that helps healthcare facilities get paid the full amount for services as soon as possible. However, this whole process is unique in healthcare since the bills and claims are spread over extensive cycles and take longer durations to process.
A well-designed Revenue Cycle Management system tracks patient care, shortens billing and collection cycles, and processes claims. Its importance lies in the fact that it saves healthcare providers money by reducing the amount of denied claims and enabling patients to pay their bills online. All payments can be collected and processed online in a matter of minutes.
Top 10 Revenue Cycle Management EMR Software in 2019
There are hundreds of EMR and Practice Management (PM) Software vendors offering RCM services. Some software provide basic functionality but allow integration with third-party RCM tools. This list of the best Revenue Cycle Management Software in 2019 was developed after thorough research by experts at EMRSystems and is based on trusted customer reviews, market research, and case studies.
Here are the top 10 EMR Software providing Revenue Cycle Management in 2019,
