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The healthcare industry is a trillion-dollar economy in the US today. This magnanimous number, on one hand, hints at the medical expenses’ pressure on the citizens and on the other hand, it justifies why America is the costliest nation to catch the flu.
Despite the price of healthcare skyrocketing, its quality and reliance are unparalleled! And as a worker, you can safely vouch for your sector’s refinement in providing high-end infrastructure and medical care services. To simplify this sophisticated working, the healthcare industry is embracing the benefits of Revenue Cycle Management.
What is a Revenue Cycle Management (RCM)?
The journey of a patient’s interaction with a healthcare facility from acquiring services, to clearing bills is known as revenue cycle management. It involves the role of receptionists, accountants, medical counselors, and medics in catering to the patients who visit hospitals or consult online.Â
To keep up with the overwhelming medical bills, health insurance have assumed a crucial role in helping individuals acquire medical services. Insurance companies, therefore, naturally become intrinsic to an RCM as they contribute to the flourishing of the healthcare industry.Â
With that being said...
What are the Components of an RCM?
- Point of contact between a healthcare service provider and the patient.
- Surfing of relevant facilities and services by the patient.
- Collection of patients’ details and of their insurers.
- Properly coding diagnoses and procedures.
- Billing post-acquiring services.Â
- Applying or rejecting payments through remittance processing.
- Collecting payments from third-party insurers.
- Examining the necessity of medical services and improving thereof.
Improving the existing RCM to enhance your productivity as well as profitability thus, becomes a constant pursuit for hospitals and healthcare facilities. To aid you in this, we have shared a list of the top 10 revenue cycle management designs. Scroll down to discover the relevant templates and download them immediately.
Template 1: Healthcare Revenue Cycle Management PPT
Hospitals and healthcare centers constantly look to make the entire RCM efficient even if it implies seeking any outside help. If you are a bidder offering to enhance their RCM experience, here is a thorough 44-slides PPT presentation to share in detail what you bring to the table. Share your understanding of the hospital's work, and propose your strategic approach to making their working efficient. Use infographics, and charts to visualize your vision for their institute, and get started by downloading this PPT template here.
Template 2: Project Bidding for Revenue Cycle Management SoftwareÂ
Are you looking for bidders to place their stakes on your RCM project? Use this PPT design to document your expectations, state of work, budget, and other specifications including the tenure of the contract. With this 44-slides extensively researched template, you can share all the relevant details of your hospital including your criteria for selecting the best bidder. Download this PPT presentation now to explore the potential of a predesigned layout.
Template 3: Revenue Cycle Management PPT Slide
Here is a simple diagram to showcase the RCM for your hospital facility. You can either retain the labels as shown in this slide or mix them up with the procedure followed by your healthcare facility. However, as shown in the template, focus on charge capture, remittance and denial management, and coding in particular in your analysis. Download this editable layout here.
Template 4: Revenue Cycle Management Framework for Healthcare Sector
Here is a diagram of an RCM cycle with icons. Connect people, technology, and processes with this 7-step revenue management cycle, as shown in this PPT design. Go a step further to illustrate the main facets of these 7 steps that make up your hospital’s RCM. Download this creative template now!Â
Template 5: Revenue cycle management practices PPT
This is another 6-step RCM template to portray the financial chain of your hospital. You can either utilize this PPT design as it is or employ its editable nature to add quick notes to each step. The nomenclature of the steps can also be altered to design a revenue management cycle according to your facility. You can find the download link to this PPT slide below.
Template 6: Healthcare Industry Revenue Cycle PPT PowerPoint
Healthcare insurance is a crucial part of clearing medical dues by patients. Therefore, hospitals need to take extra care when onboarding patients who claim to have insurance. Establish a procedure to manage and obtain your fees in those conditions with this RCM claim PPT. Specify the Ifs, and buts to render a smooth communication with the insurers and patients, and create a foolproof method for extracting your fair share of payments with this PPT design.Â
Template 7: Sample Revenue Cycle Workflow PPT
Depict the involvement of different participants of a healthcare facility within an RCM. This includes the role of the front office, assistant labs, physicians, and the billing counters. Specify the steps; how RCM relies on the operation and which step can be modified to make the system efficient. To download this detailed PPT layout, visit the link below.
Template 8: Revenue Management Cycle Template
This is another 7-step representation of the revenue cycle. Use this completely editable template to highlight the profitability of your RCM and strategize. Like other layouts available with this, it can be availed in standard screen and widescreen formats. Download now!
Template 9: Patient’s Financial Journey Through Revenue Cycle
This is a slide designed to aware your patients of the working of revenue cycle management. Even healthcare management can utilize this framework to understand the contact points and strategize to improve their brand name and efficacy. Simply download this circular roadmap that identifies 8 unique steps and highlights the crux of a healthcare’s RCM. Download now!
Template 10: Revenue Cycle With Experience PPT Template
Use this flow template to point out as many as 12 steps of your RCM. Using this roadmap, you can transition from focusing on patient experience to converting them, positively impacting your sales. Focus on the individual steps and strategize as per your needs. Download this creative layout now!
We just browsed through the top 10 templates that the healthcare industry or their outsourced RCM can utilize to soar the healthcare profits.Â
So make sure you get your hands on one of them if not all.Â
P.S. Wondering about how the purchase cycle works? Perhaps, looking for a prospect to help you understand one? Follow this blog post, replete with editable purchase cycle templates.
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