Deciding whether to hire a vendor to handle revenue cycle management (RCM) for your practice is a big decision. The 10 questions that follow will help you evaluate the candidates and make the best choice for your practice.
What is the cost and what do I get for that price?
The cost of revenue cycle management (RCM) services can vary significantly depending on the size and complexity of services. Some charge monthly fees while others charge a percentage of the total amount collected. Two vendors may charge similar rates, but what is included in that price can vary.
It’s important for the vendor to spell out everything included in its fees, and be transparent about the services it charges extra to provide.