Revenue cycle management is a key function of any healthcare organization, but the definition of RCM can vary, depending on who you ask.
Nearly all CFOs agree payments and collections are RCM modules, according to peer60's Healthcare Revenue Cycle Management: 2015 report. Here are 13 statistics on what modules CFOs consider as part of the revenue cycle process.
• Claims: 100 percent
• Payments: 98 percent
• Collections: 98 percent
• Registration: 98 percent
• Denial management: 97 percent
• Eligibility and benefits: 97 percent
• Custom edits: 84 percent
• Contract management: 83 percent
• Scheduling: 79 percent
• Benchmarking: 71 percent
• Referrals: 49 percent
• Coding: 10 percent
• Other: 5 percent