Impact of Financial Management In Medical Billing: 6 Common Issues in the Revenue Cycle

Financial management has a pivotal role in medical billing and revenue cycle management. However, it is inevitable for contemporary healthcare organizations to adopt the emerging trends of financial management practices. These practices should be incorporated into the organization’s strategy to gain the best revenue management results through business growth and revenue generation in the highly competitive healthcare industry. Especially the understanding of the cyclical healthcare industry has been drastically controlled by the changes in the market share. The most probable reason is the slow financial growth rate in the cyclical healthcare industry. The article will discuss the common issues in the revenue cycle.