STI Announces a Revenue Cycle Management Option

Have you heard about Revenue Cycle Management (RCM)?

Revenue Cycle Management is the process of managing the healthcare revenue cycle within your office that typically results in increased revenue collected, more compensation for physician owners, reduced practice costs especially for computer technology, integration of Electronic Health Record (EHR) technology and more time for patient care. I know that it probably sounds too good to be true in today’s complicated medical environment, but it is happening in medical practices throughout the country.

The Healthcare Revenue Cycle is more than just billing and collecting your fees. It includes the entire patient process from patient registration pre-encounter, to the patient/physician encounter, to your back office processes of billing, collecting your fees, posting payments, patient reconciliation and follow-up.

Successful Revenue Cycle Management (RCM) requires advanced technology like the STI ChartMaker software, as well as billing knowledge, and time to complete the revenue cycle process. Many medical practices cannot keep up with this process due to the difficulty in managing the day-to-day operation of a busy medical practice.
Patient issues cause interruptions to your staff that require more of their attention and time. So time that is needed for calling and following up with payers is not available and revenue is typically lost unless you add more staff.

Your office needs a knowledgeable and dedicated administrative and clinical staff to efficiently administer this process. The Healthcare Revenue Cycle is becoming more complex and time consuming with additional healthcare regulations and processes, especially in smaller medical practices. Some medical practices would prefer to concentrate on the clinical side of the medical practice (patient pre-registration and the patient/physician encounter) and to be less involved in the back office processes of billing, collecting and posting fees. It’s not for everyone, but we have had STI clients call us to see if we offered this service.

STI does have a Revenue Cycle Management program that works with your current ChartMaker software system. If you have been considering RCM or would like to learn more about this concept click here to see a brochure, or for more information contact Joe Cerra by email jcerra@sticomputer.com, or at STI’s main telephone number 800-487-9135 extension 1188, or you can reach him directly on his cellphone 610-608-0173.