Skip to content
GBSRevCycle_Logo_PMS

The Denial Dilemma
Financial crisis in the healthcare industry.

Healthcare Financial Crisis

DEBT as the Industry Standard

Day and Night - GBS Blue

40-60

DAYS in the average denial cycle

Calendar - GBS Blue

6

MONTHS between date of service and payment

Piggy Bank - GBS Blue

$43.84

average COST to appeal each denied claim

From Chaos to Clarity:
Revenue Cycle Management

RCM 101: What You Need to Know

What is Revenue Cycle Management (RCM)?

Revenue Cycle Management (RCM) is like a doctor for your billing department. It evaluates the health of your billing processes, prescribes adjustments for better efficiency and streamlines your activities to restore the health of your revenue cycle.

Why do I need RCM?

You deserve to be rewarded for your hard and life-saving work. Much of your success depends on the skillful management of the entire life-cycle of a patient account—from creation to payment. That's where RCM experts step in to manage the process for you. 

How does it work?

That depends on your revenue cycle goals. You can pick and choose between two types of management services and the variety of components under each umbrella. 

  1. Core RCM Strategy — You can expect streamlined claims issuance and insurance payments as well as automatic appeals and denials management, reporting and excellent patient customer services. 
  2. Patient Balance Services — This service handles patient reminders and payment options, including patient portals and customized messages for calls, emails and texts so you're reaching your patients right where they are—their mobile devices. 
How does RCM benefit my practice?

With a well-managed revenue cycle, you should expect to see:

  • A significant reduction in collection time
  • Improved patient satisfaction
  • A bump in self-service payments
  • A boost in patient collections
RC - Happy Doctor Tile

Have a different question about RCM? Let us know.

Next Steps

RC - Dig Deeper Tile

Take a Closer Look

Dive into the world of RCM, discover the positive impact it can have on your practice and explore services provided by RCM partners.

RC - Request a Consultation Tile

Request a Consultation

Get in touch with RCM experts to receive individualized recommendations specifically for your practice. 

More to Explore

Smart Business Solutions Podcast

Tune in and get the inside scoop on RCM straight from the GBS RevCycle experts! In this episode, we highlight major components to RCM processes, challenges providers face across the industry and the benefits of using RCM best practices to make your collections more profitable and efficient.

Listen on Apple Podcasts

Blog

Request a Consultation

About GBS RevCycle

92% of healthcare practices aren't meeting their revenue goals.
Are you?

Who We Are

GBS RevCycle is committed to growing the profits of healthcare practices like yours, so you can get paid for the life-saving work you do every day. 

What We Do

Our comprehensive approach improves the health of your revenue cycle, resulting in maximized revenue collection, accelerated cash flow and a boost in efficiency and productivity.

Ready to learn more?

We've spent the last 40+ years helping providers collect the revenue they earn with our profit-generating solutions, all so you can focus on what matters most—your patients!