Revenue Cycle Management (RCM) is a critical function of many businesses, but especially hospitals and medical care providers. As such, it’s important to ensure that the RCM process is as efficient and accurate as possible. Unfortunately, if mistakes are made, they can be costly to correct. To avoid the unnecessary costs associated with errors in the RCM process, here are seven common mistakes to avoid at all costs:

• Not Automating Your RCM Process
• Not Leveraging Data Analytics
• Not Properly Managing Denials
• Not Utilizing Eligibility Verification Tools
• Not Implementing a Scheduling System
• Not Streamlining Your Coding Process
• Not Leveraging Technology

By avoiding these seven common mistakes, you can help ensure that your RCM process is as efficient and accurate as possible. Automating the process, leveraging data analytics, managing denials properly, utilizing eligibility verification tools, implementing a scheduling system, streamlining coding processes, and leveraging technology are all key components of an effective RCM process. Together, these components can help to reduce the amount of time and money spent on RCM and ensure that your business is able to efficiently manage its revenue cycle.