Revenue Cycle Management (RCM) software system in healthcare acts as a foundation pillar of hospitals and other healthcare practices. Effective management processes allow medical practices to keep profitability along with dealing with timely claims and payment processes.
The healthcare Electronic Medical Records (EMR) software system keeps a close look on individual patient’s experience, from early scheduling and registration all the way through the visit and finally to post-visit experience and final reckoning. Physician practices adopt these software systems to completely automate this tracking experience. After that, the practices can focus more on treating patients and providing them better healthcare.
Revenue Cycle Management (RCM) EMR software makes the handling of practice’s finances very simple and easy. From tracking each billable patient appointment to scheduling to payment completion, all is done using the best Revenue Cycle Management (RCM) EMR Software.
RCM EMR and Practice Management (PM) software offer many other features and functionalities. The software must verify health insurance eligibility while scheduling appointments, creating claims submissions with the correct codes and patient payment notices and collections.
Features of Revenue Cycle Management EMR Software
Before adopting a Revenue Cycle Management EMR/EHR software, you should make sure that it has the following main features:
| Appointment Scheduling | The RCM EMR software records the initial patient outreach and tracks any scheduled appointments. |
| Insurance Information | The software collects patient insurance information and verifies its eligibility. |
| Co-payment Validation | The top RCM EMR software validates the copayment amount covered by insurers and adjusts the remainder due accordingly. |
| Patient Appointment Documentation | The Revenue Cycle Management EMR software manages the proper code output, based on the type of visit and the services that took place during the patient visit. |
| Claims Management | The RCM software maintains an organized database of all current and past claims and accurately send and file bills to keep claims updated. |
| ICD-10 Compliant | The software manages the details of ICD-10 cataloging and keeps the practice compliant. |
| Secure Payment Processing | RCM EMR software securely and reliably accepts credit, debit and other electronic forms of payment. |
| Denial Management | Revenue Cycle Management EMR software organizes denials based on critical signifiers such as the source of denial and reason for denial all through one place. |
Top 5 RCM EMR & EHR Software in 2019 by EMRSystems
EMRSystems values its customers and has prepared a list of the 5 best and top-rated Revenue Cycle Management (RCM) EHR & EMR software solutions in 2019. The list is completely based on customer reviews and ratings and is as follows:
