Revenue Cycle: From Billing to Collections

Abstract

Revenue cycle management is a tool that is frequently being used in health care practices to improve the profitability of practices and hospitals. Previously, efforts to optimize profitability have focused on cost containment, and emphasis on revenue generation has been lacking. An understanding of the phases of the revenue cycle and the ways to influence each of them allows hand surgeons to make substantial and tangible changes to the revenue growth of their practice. An emphasis on personnel training, process improvement, and adoption of technologies can drastically change the revenue cycle of a hand surgery practice.

Keywords: Clinic; Efficiency; Revenue cycle management; optimization.