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Probably the most used illustration for explaining the “revenue cycle” is a circle or wheel. That’s because the revenue coming in and out of a medical practice is in continuous motion. There are multiple processes taking place between the acceptances of a referral to the proper collection of a patient’s payment. This is why it is very important that each process be supported by a system. Systems not only allow for checks and balances but they also prevent a practice or provider from becoming dependent on one or two people for the practices financial success.
Listed below are some examples of the areas that ProCare™ Systems has developed and implemented systems to track and monitor the revenue cycle and financial status of a practice:
- Call monitoring
- Third party payer contracts
- Accounts Receivable and payable
- Audits
- Asset management
- Referrals
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Affiliated Healthcare Practices
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