Healthcare revenue cycle management is a complex process. Adding to the complexity is the fact that rules and regulations as well as codes keep changing regularly.
Account Receivables Days or AR Days indicates the time taken to receive payment on a claim. Accounts Receivable Days is a significant indicator of the financial health of a practice.
Pre-verification or insurance eligibility verification is the first step in Revenue Cycle Management. Here, all the patients scheduled to visit the provider are verified for eligibility and benefits with their insurance.