While hospitals are known for saving lives and treating patients, every hospital needs to adopt processes and systems to stay financially healthy also.
The most critical part of the hospital bottom line is Revenue Cycle Management.
Healthcare sales cycle management is the financial process that centers use to manage the clinical and administrative functions connected with claims processing, payment, and sales generation. The method encompasses the identification, management, and group of patient service revenue.Without this key financial procedure, healthcare organizations cannot keep their doors open to treat patients. Healthcare revenue cycle management is that the plan that health care organizations use to cover the bills.
Mayden, with more than 15 years of experience in this field helps hospitals realise revenues faster.
Here are some answers to the questions we receive the most about our services.
If we missed anything, please do not hesitate to contact us. We’ll be happy to help
Mayden’s proprietary dashboard ensures that the RCM remains a key driver in all activities.
This tool links the insurance company, hospitals, TPAs and Corporates to give hospitals a real time picture of its financial health.
While most TPAs and Corporates have standard engagement agreements, Mayden consults with hospitals to identify service level engagement and credit period. The objective is to keep the hospital at the forefront of all things revenue related.
The complexity and state of business transactions determine the cost of the RCM service.
Also, hospitals need to have a clear gauge of their expectations from RCM services.
Mayden helps hospitals manage revenue at competitive costs to make it a compelling decision.