01/20/2025

Answers to Frequently Asked Questions About Revenue Cycle Management

Successful revenue cycle management (RCM) is a team effort that requires continuous collaboration across multiple departments of an organization. Although all institutions aim for standard industry best practices, the way in which these goals are attained may vary greatly, based on unique workflows, workforces, and needs. If you have ever wondered how other organizations are managing the same RCM challenges you encounter, we invite you to continue reading. This article was curated with careful consideration of some of the most frequently asked questions we have received from professionals across the country, including podcast listeners and attendees of educational programs and other meetings, as well as individuals who have reached out to us through a variety of online platforms.

Questions include:

• Should we outsource our billing department?
• Is the number of denials we receive normal?
• How do we decrease denial rates?
• There is a lot of pressure on our revenue cycle department to improve our net collection rate. What are some things we can do?
• What can we do to improve the productivity of our billing team?
• What language should I focus on within my payer participation agreements?
• How often should we conduct internal coding audits?
• Why should we prioritize Social Determinants of Health?

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