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Dan Greyn

Revenue Cycle: Avoid pitfalls, reap rewards

Q. What are the top three pitfalls of RCM that I should avoid?

The revenue cycle is a complex process with many moving parts. Those “parts” are better known as people and processes, and they need to work harmoniously in order for your company to achieve bottom-line results.

Revenue Cycle: Establish KPI goals

Q. What KPIs show I have strong revenue cycle management practices?

A. Industry experts suggest that every team member have performance goals, engage in monthly feedback sessions with their team and manager, and receive incentives for performance improvements.

Revenue cycle: Avoid the spiral

Q. How does inventory and warehouse management play a role in revenue cycle management?

A. Too much inventory creates unneeded expenses and too little inventory means lost revenue. For many in our industry, inventory management is a necessary evil that isn’t done well.

Revenue Cycle Management: Perfect the knowledge transfer

Q. How can I use technology to shorten the learning curve for my CSRs?

A. Too often, I have seen providers rely on their own staff to transfer tribal knowledge using a mix of water-cooler talk or on-the-job training. The result is ill-informed personnel, costly mistakes, no documentation and reduced productivity.