Medical billing is not just about submitting claims—it’s about managing the entire revenue cycle from patient registration to final payment. A well-managed revenue cycle ensures that healthcare providers get paid for the services they render, while also reducing costs associated with managing accounts receivable.
The revenue cycle begins with patient registration and insurance verification. Any errors in this initial phase, such as incorrect insurance information, can lead to denied claims later in the process. After a patient is treated, the coding process translates the medical services provided into standardized codes that are used to bill insurance companies. Finally, claims are submitted, followed by payment processing or handling claim denials if necessary.
At CoreMB, we understand the intricacies of the entire revenue cycle and how each step is interconnected. Our team ensures that patient information is correct from the start, claims are submitted quickly and accurately, and denials are followed up on immediately to avoid delays. We work with healthcare providers to identify potential issues before they arise, thus optimizing cash flow and reducing claim rejections.
Key Takeaways:
- The revenue cycle starts with patient registration and ends with payment processing.
- Errors in any step of the process can result in denied claims.
- CoreMB provides full-cycle revenue management to ensure timely reimbursements and fewer errors.
