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All glossary terms

Billing and revenue

Revenue cycle management (RCM)

The end-to-end process of capturing charges, submitting claims or invoices, collecting payment, and reconciling exceptions.

Definition

RCM spans eligibility, coding, claims or patient invoices, denials, and payment posting. Specialty practices may not need a hospital RCM suite, but they still need clean handoffs from visit to money.

Practice management software should keep financial work attached to patient and appointment context so billers are not reconstructing sessions from memory.

Related on ClinicPro360

Billing

Educational definition for operators evaluating therapy practice software. Not legal, compliance, billing, or clinical advice.

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