Revenue Cycle Management (RCM) is the financial backbone of every clinic—from registration to collections. This guide breaks down each step, key KPIs, and automation strategies for small clinics in India.
What Is Revenue Cycle Management (RCM)?
Why RCM Matters for Small Clinics
- 35% of small clinics experience claim rejections due to coding errors
- Manual processes cause revenue leakage and staff burnout
- Delays = poor cash flow = slow growth
5 Key Steps in the Revenue Cycle (And How to Optimize Them)
- Pre-Visit Eligibility Checks: Use automated patient verification and ID validation tools.
- Accurate Coding & Billing: Implement CPT/ICD code training and billing automation to reduce denials.
- Claim Submission & Tracking: Submit digital claims and monitor them using dashboards like HealthOK’s.
- Denial Management: Resubmit corrected claims within 48 hours. Use analytics to reduce repeat denials.
- Patient Billing & Collections: Offer digital payments and send reminders via SMS or email.
RCM KPIs to Track in Your Clinic
- Claim acceptance rate
- Billing error rate
- Denial rate
- Collection rate
- Days in A/R
HealthOK's Revenue Cycle Automation Tools
- Smart claim creation & submission
- Real-time billing & denial tracking
- Integrated PMS & EMR
- Insurance partner integration
- Automated reports & alerts