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Revenue cycle management (RCM) is a crucial aspect of healthcare administration, encompassing the entire financial process from patient registration to final payment of a balance. Effective RCM ensures that healthcare providers are properly reimbursed for their services by efficiently handling claims processing, payment collection, and revenue generation.
Revenue Cycle Management (RCM) is a pivotal process for businesses, especially in the healthcare sector. It encompasses the administration of financial transactions associated with patient service revenue from appointment scheduling to the final payment of a balance.
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