What is a Healthcare Billing, Collection and Revenue Cycle Management?

Healthcare billing, collection, and revenue cycle management refers to the processes and systems involved in managing the financial aspects of healthcare services. This includes activities such as billing patients and third-party payers for services, managing collections of outstanding balances, and overseeing the overall revenue cycle of a healthcare organization. These processes are crucial for the financial health and sustainability of healthcare providers, as they ensure that services are appropriately billed and paid for, and that revenue is managed effectively.