The report identifies companies that provide revenue cycle management solutions specific to the healthcare industry.
PGM’s profile reads as follows:
“Physicians Group Management (Lyndhurst, N.J.). PGM, founded in 1981, offers physician billing services, facility billing services and EMR solutions. The company offers billing solutions specifically tailored to a number of different specialties including allergy and immunology, anesthesiology, cardiology, chiropractic, dermatology, emergency medicine, gastroenterology, mental health, nephrology, oncology, orthopedics, pain management, primary care and urology.”
As the report notes, “Revenue cycle management is essential to any business’s strategy. These processes are only growing in importance in healthcare as every dollar is expected to stretch further than before.”
According to the Healthcare Billing & Management Association, “Revenue cycle management (RCM) is the process that manages claims processing, payment and revenue generation. It entails using technology to keep track of the claims process at every point of its life, so the healthcare provider or medical billing company doing the medical billing can follow the process and address any issues, allowing for a steady stream of revenue. The process includes keeping track of claims in the system, making sure payments are collected and addressing denied claims. RCM encompasses everything from determining patient insurance eligibility and collecting co-pays to properly coding claims using CPT and ICD-9 codes.”
Of RCM, MedPageToday writes: “RCM is the lifeblood of every practice. Effective patient registration, insurance and benefit verification, charge capture, and claims processing are essential to maintaining viability.”
Becker’s Hospital Review features up-to-date business and legal news and analysis relating to hospitals and health systems. Content is geared toward high-level hospital leaders (CEOs, CFOs, COOs, CMOs, CIOs, etc.), including hospital and health system news, best practices and legal guidance specifically for these decision-makers.