The benefits of RCM automation for physical therapy practices

Revenue cycle management (RCM) automation is an automated digital system for your revenue cycle. This automation technology is a type of medical billing software. It is intended to increase the efficiency of a business’s revenue cycle management.

What is the revenue cycle?

Revenue is the total income amount generated from services or products provided by a business. A revenue cycle is composed of the tasks and functions that contribute to the generation and collection of revenue. Revenue cycle management is the process that is utilized by health care providers. It allows them to follow and record the sourcing of revenue to a business. Some health care providers rely on automated revenue cycle management systems to manage their revenue more effectively. To learn more about the unique benefits of an RCM automation system, keep reading below.

How does RCM automation help physical therapy clinics manage their revenue cycles?

• Insurance claims — Using an automated revenue cycle management system can help reduce the number of rejections and reworking for insurance claims. It can help ensure that necessary information is sent to insurance companies. It can improve the verification process to determine if patients are covered by insurance for treatment, and can allow for faster status determination. Claims can be handled more efficiently and claim rejections can be looked into easier. RCM automation can help streamline the insurance claims process for physical therapy clinics, in turn helping you refocus your efforts on providing quality care to your patients.

• Billing and finances — Relying on RCM automation can aid in your business’s billing and finances, too. It can organize the accounts that need to be paid and payments that are received. It can keep track of the billing and reimbursements at your clinic. Using RCM automation at your physical therapy practice can make billing and recording financials so much easier. 

• Appointment requests and patient records — New patient appointment requests and updating patient information can be made easier as well. RCM automation can make your physical therapy practice’s billing and financial operations better. It can also help your administrative staff organize patient information. When new patient information becomes available, automated revenue cycle management systems can help make sure that your records, patient registration and appointment requests are taken care of.

RCM automation can help physical therapy clinics manage their revenue cycles by allowing them to refocus their efforts on the care they provide their patients. It prioritizes the financial aspects of running a business and providing good care, simultaneously. That way, care providers can keep their business as successful as it can be. This type of medical billing software combines financial management and clinical management to create a smoothly running business.

Don’t take more time out of your workday than you need to address medical billing insurance claims management and patient registration. An automated technology system can let you get back to the work you’re passionate about while keeping your business financially afloat. If you’re a physical therapy clinic owner, you would likely benefit from implementing a software system with RCM automation capabilities into your practice operations. 

AgileEMR can provide you with an EMR software solution that can support your revenue cycle management

AgileEMR is a health care practice management software solution. It’s designed for therapists and created by therapists. AgileEMR officially launched its software in 2013 to address the source of common problems that physical therapists and clinicians most often run into with run-of-the-mill clinical EMR systems: None of them were created with physical therapy at the forefront. We conferred with physical therapists and physiotherapy experts when developing our physical therapy-centered software. This was how we could confidently ensure that our software program can meet the demands of this unique health care field. Since its launch, AgileEMR has become used in more than 1 million patient cases by all kinds of providers in the outpatient physical therapy industry. We’re aware that EMR systems are propelling the future of outpatient physical therapy. To learn more, read our blog post about the steps you can take to streamline your EHR integration. To see our physical therapy and rehabilitation partners, click here.

Are you a practice owner? If you’re looking for more information on electronic medical records systems or the features of our EMR program, look no further. We’re confident that our program can simplify how your outpatient physical therapy and rehabilitation clinic can keep running efficiently. 

Contact our team today for more information or to schedule a demo to see how AgileEMR can help you streamline your practice’s operations.