Healthcare Revenue Cycle
Revenue Cycle Management (RCM) is the process that manages claims processing, payment and revenue generation.
Our RCM team at DAW Global manages the whole claims cycle process from insurance verification to claims creations, claims processing and payment and revenue generation.
The revenue cycle begins at appointment booking and ensuring insurance eligibility has been confirmed prior to patient arrival for their visit. This continues through clinical documentation, verifying that a visit note is coded correctly for services rendered by a provider. Finally, the claims creation, submission and management process ensures that reimbursement for claims is readily received, minimizing cost for resubmission due to claims denials.
Understanding the total revenue cycle is the first step toward achieving maximum revenue for your practice. It is important to note that “achieving maximum revenue” does not mean you are overcharging or trying to manipulate payers. It simply means you are smarter about the services you provide and understand how to get payment from your payers the first time while minimizing the costs and effort associated with getting paid. While a clinic’s ultimate purpose is to provide care for patients, neglecting to closely monitor the business of the clinic, hinders you from being able to provide care at all.
DAW Global are experts in the field with vast knowledge of payor requirements in billing.