Why Revenue Cycle Management Is More Than Just Billing
When people hear "revenue cycle management," they often think it’s just another term for billing. It makes sense—billing is one of the most visible aspects of the revenue cycle. But in reality, revenue cycle management (RCM) is a much broader, more complex process that goes far beyond simply sending out bills. It’s the lifeblood of a healthcare organization’s financial health, touching every part of the patient journey, from registration to final payment.
In this article, we’ll explore why RCM is more than just billing, and why understanding the full scope of the revenue cycle is essential for improving efficiency, reducing errors, and boosting revenue.