Key Components of RCM:
Patient Registration: Efficient patient registration processes are crucial for capturing accurate demographic and insurance information upfront, minimizing billing errors, and expediting reimbursement.
Insurance Verification: Verifying patients' insurance coverage ensures that services provided are eligible for reimbursement, reducing claim denials and delays in payment.
Claims Submission: Timely and accurate claims submission is essential for prompt reimbursement. Advanced medical billing companies utilize electronic claim submission platforms to expedite the process and minimize errors.