Less Time Spent on Money, More Time For Patients
Revenue Cycle Management (RCM) is a collection of clinical and administrative processes that manage claims processing, payment and revenue generation. Individual practices, hospitals and Care Organizations alike all use revenue cycle management systems to keep track of the claims process at every touch-point. This is to ensure that problems are detected and resolved as soon as possible and healthcare providers can enjoy a steady revenue stream.
Although these systems revolve around billing and financial goals, RCM is all-encompassing. For example, RCM deals with determining insurance eligibility and collecting payments, but it also handles coding claims using ICD-10, office efficiency and even time management.
Keeping track of all of the stages and components of the revenue cycle looks more simple than it is; there are many human errors that can contribute to rejected and delayed claims. For example, conflicting and inconsistent data within the same claim, or the duplication of data can halt a claim in the revenue cycle, causing missed revenue opportunities.
Revenue cycle processes flow into and affect one another. When processes are executed correctly, the cycle performs predictably. However, problems early in the cycle can have significant ripple effects. The further an error travels through the revenue cycle, the more costly revenue recovery becomes (OSHU.)
X-Link provides all the connectivity required by Revenue Cycle Management systems. Check out X-Link's Systems Linked List or contact us at 800-645-2962 or 813-995-2200 for more information.
No More Missing Out on Revenue
Keeping revenue cycle systems such as billing, collections, patient accounting and electronic health records separate from each other could lead to missed revenue opportunities. Using X-Link is a great way to connect these existing systems and ensure that your practice is not leaking money.
Receive More Money, Faster With Receivables
Not only is having an online, self-pay patient portal important for attesting to Meaningful Use and other government mandates, it is important to ensuring that your practice gets paid. X-Link can ensure compatibility between your Revenue Cycle Management Systems and your Patient Portal making patient payment more convenient.
Reduce Billing Errors
By using X-Link to transmit patient data between your clinical and RCM systems, your practice does not have to worry about duplicate or inconsistent data entry. This reduces the amount of denials and rejected claims, which decreases delays in patient billing.