RCM (Revenue Cycle Management)
Revenue cycle management is the process used to track the revenue from patients, starting with the initial appointment or encounter with the provider to the final payment of any balances that might remain after any insurance payments.
Errors in RCM Software can lead to delayed payments or no payment at all. The revenue cycle process is complex and medical billing is getting increasingly more complicated, especially with an ever-expanding ICD code system.
NovoClinical’s sophisticated and advanced Healthcare Revenue Cycle Software ensures that billing errors are reduced – and even eliminated — so reimbursements from insurance companies are maximized. NovoClinical’s RCM management maintains compliance with coding regulations and payer rule sets. Using the right ICD and CPT coding for services rendered by a practice ensures that insurance claims are processed quickly and efficiently so the practice and/or provider receive maximum reimbursement. Optimal coding results in higher revenues and decreases claim denials from insurance companies.
NovoClinical’s revenue cycle management takes the worry out of getting paid and allows the doctor the ability to focus on medicine and patient care.