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Revenue cycle management in healthcare refers to the strategic and systematic approach to managing the financial processes associated with patient care. It encompasses the entire lifecycle of a patient's interaction with a healthcare facility, starting from appointment scheduling and ending with payment collection. RCM involves various steps, such as patient registration, insurance verification, accurate medical coding, claim submission, payment processing, denial management, and patient billing.

Efficient RCM ensures that healthcare providers receive accurate reimbursement for the services they offer. It involves coordinating administrative, financial, and clinical processes to optimize revenue collection while also maintaining patient satisfaction and compliance with industry regulations.