Rcm Ar Executive Interview Questions and Answers

Five common denial reasons in RCM AR

• 1. Incorrect patient information

• 2. Lack of medical necessity

• 3. Non-covered service or procedure

• 4. Duplicate claim

• 5. Timely filing limit exceeded

Revenue cycle management (RCM) is the financial process of managing claims, payment, and revenue generation in healthcare.

• RCM involves tracking patient care from registration to final payment.

• It includes billing, coding, and claims management to ensure accurate reimbursement.

• For example, verifying insurance eligibility before services are rendered.

• It also involves managing denials and appeals to maximize revenue.

• Effective RCM can reduce the time it takes to collect payments.

The current drawing refers to the amount of money being withdrawn from an account.

• The current drawing can be found on the account statement or online banking portal.

• It is important to keep track of current drawings to avoid overdrawing the account.

• Examples of current drawings include ATM withdrawals, checks written, and electronic transfers.