From the early stages of the COVID-19 pandemic, healthcare providers have been reaching out to us expressing some of the most difficult decisions they have ever been faced with; Practices are struggling to keep their doors open as costs mount, and revenue has fallen significantly. Practices are faced with temporarily shutting down or closing permanently, even the ones that have seen growth and success for years. Where should we all be looking to ensure practices remain open, implement the right changes, and evolve their operations for the future?

Revenue Cycle Management is the financial process that helps to bridge the ever-growing gap that divides business and healthcare. The revenue cycle itself encompasses all the administrative tasks and processes that take place from the scheduling of a patient to the collection of revenue. This may include patient registration, coding, collecting payments, and submitting or collecting claims from insurance providers.