RCM (Revenue Cycle Management) is a system to get through with the financial transactions between patients, healthcare providers, and payers. Clinical administration manages the revenue cycle starting from patient registration, payment posting, and the exchange of information between patients’ statements and payment systems.

AR (Accounts Receivable) is a term refers to tracking claims, chasing revenue collection, and compiling a record of cash flow. AR is vital for health practices to follow-up the claims submitted and with the insurance companies, for revenue recovery optimization.

EMR (Electronic Medical Record) and EHR (Electronic Healthcare Records) is an electronic healthcare software that carries the record of patients’ complete health-related information. EHR functions as a digital system to handle patient visits, storing health records, and connects with ePrescribe and laboratories. EHRs are further capable of integrating patient portals and billing systems.

Medical billing services in the US return peaceful solutions for most practices. It is where outsourcing a third-party takes the burden of creating, filing, and managing claims away from them. The in-house solution is expensive and usually drains the available staff of hours. Hence, the outsourced solution seems highly likely to work in favor of providers.

The percentage that you will be charged is usually governed by the variable e.g. the types of medical procedures, the tax rate in your state, and the volume of patients. On average it’s 7.9% of the whole accumulated medical revenue. Some companies offer no setup fee but some charge from $250 to one thousand.