REVENUE CYCLE MANAGEMENT (RCM)
Revenue Cycle Management
Patient-Centric Revenue Cycle includes steps starting from patient account creation through closing the account with a zero balance.
The three broad phases are Pre-Service, Time-of-Service, and Post-Service.
The Healthcare Financial Management Association (HFMA) defines a revenue cycle as
“All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue.”