Claims denials are a significant cause of stress in the medical world, and with hospitals...
Healthcare Financial Crisis
DEBT as the Industry Standard
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40-60
DAYS in the average denial cycle
![Calendar - GBS Blue Calendar - GBS Blue](https://marketing.gbscorp.com/hs-fs/hubfs/Calendar%20-%20GBS%20Blue.png?width=60&height=70&name=Calendar%20-%20GBS%20Blue.png)
6
MONTHS between date of service and payment
![Piggy Bank - GBS Blue Piggy Bank - GBS Blue](https://marketing.gbscorp.com/hs-fs/hubfs/Piggy%20Bank%20-%20GBS%20Blue.png?width=60&height=80&name=Piggy%20Bank%20-%20GBS%20Blue.png)
$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.
- 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.
- 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 RC - Happy Doctor Tile](https://marketing.gbscorp.com/hubfs/RC%20-%20Happy%20Doctor%20Tile.png)
Have a different question about RCM? Let us know.
Next Steps
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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 RC - Request a Consultation Tile](https://marketing.gbscorp.com/hs-fs/hubfs/RC%20-%20Request%20a%20Consultation%20Tile.png?width=120&height=270&name=RC%20-%20Request%20a%20Consultation%20Tile.png)
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!