The revenue cycle management system manages the finances in a healthcare facility and therefore has a direct impact on the performance of the facility. A RCM system needs to meet the needs of the patients as well as the health facility workers to make sure that it is efficient(Heneise, 2018).

The first way to improve the RCM is to automate the workflow relating to the RCM. The focus of the health facility is on the patient and automating workflow for the RCM releases the labour to the core business of the health facility(Heneise, 2018). Automating the process increases the value of the RCM system as it is able to work much faster and minimize the occurrence of mistakes.

The second way to improve the RCM is to make it in a way that it meets the preferences of the patient. The patient has to submit payment or receive reinbursemnt on the RCM system and making it patient friendly makes it efficient(LaPointe, 2018). The RCM system should be set in a way that accepts various forms of payments to increase the practicality of the system

Any improvements on the RCM system have to match industry changes to remain relevant. In some cases, this might require that a healthcare facility involves RCM specialists while instituting a RCM system to make sure that the system offers value based care(LaPointe, 2018). Industry changes would mean a difference in the supporting technology for the RCM system or the ability of the system to handle multiple activities relating to revenue in the healthcare facility.

The need to collect payments up front is an important improvement for the RCM. The system needs to identify the initial point of receiving any payments at the earliest instance within the healthcare system(LaPointe, 2018).

References

Heneise, A. (2018). Revenue Cycle Management Training: Best Practices for a Healthy Revenue Pipeline. Alliancechicago.org. Retrieved 19 September 2021, from http://alliancechicago.org/dev/wp-content/uploads/2018/07/FINAL-Revenue-Cycle-Management.pdf.

LaPointe, J. (2018). 4 Key Ways to Improve Healthcare Revenue Cycle Management.Rev Cycle Intelligence.Retrieved 19 September 2021, from https://revcycleintelligence.com/news/4-key-ways-to-improve-healthcare-revenue-cycle-management.