Revenue Cycle Management (RCM) is a process to manage and track practice claims and payments. It requires using sophisticated software technology and specialized billing knowledge to keep track of the claims process and to increase the amount of revenue collected.The claim tracking process provided by ChartMaker's advanced software technology ensures claims are not lost and payments are collected. The billing knowledge of an STI RCM Partner addresses the processing of insurance claims, follow-up on denied claims, which can cause the majority of lost revenue to a practice, and posting, freeing your staff to concentrate on more important patient issues.
Most practices that switch to RCM find that the benefits include:
- Increased average % of claims paid after 1st submission
- Increased average % of current claims (0-60 Days)
- Reduced denial rate
- Improved net revenue to the practice
- Higher percentage of clean claims
- Reduced outstanding accounts receivables
- Faster claims payment
- Less lost claims
- Improved quality of care by having more time for patient care issues
- Correct patient information available and less stress to your staff
Can Your Office Benefit From RCM?
- An STI RCM Partner's only job is to work on your claims and collect your revenue. In addition to specialized billing knowledge, they are not interrupted with patient issues. An STI RCM Partner concentrates on collecting your revenue.
View a Customer Testimonial on RCM