RCM

RCM

What does healthcare revenue cycle management entail?

The procedure utilised by health systems in Egypt to track patient revenue from their first appointment or engagement with the medical system to their settlement of any outstanding balances is known as revenue cycle management.

The appointments or hospital visit initiates the revenue cycle, which concludes when the hospital or provider is fully compensated for the services rendered.

Preregistration, enrolment, charge capture, claim filing, remittance processing, insurance follow-up, and patient collections make up the seven steps of the revenue cycle. This article discusses each of these processes, what they comprise, how things might go wrong during the collection cycle process, and also how to avoid errors.

The success of a healthcare company depends on effective revenue cycle management. Egypt HealthBook can help because it might be challenging to complete each aspect of RCM well on your own.

The Revenue Cycle Management options rendered by Egypt HealthBook are unmatched in the market. In order to increase their healthcare billing and payment receivables by triple digits.

In order to provide top-notch service, maximise reimbursements, and provide useful information relating to the financial wellness of your clinic, Egypt HealthBook RCM focuses on lot of automated processes to achieve the goals.

Significance of RCM

By combining administrative data, like a patient's name, health insurer, and other private details, with the therapy a patient gets and their healthcare data, RCM unites the clinical and business aspects of healthcare. RCM's interaction with health insurance providers is crucial.

Advantages with RCM

• More claims are paid after the initial submission.
• Increase in Practice Revenue and Collections
• Greater Attention Paid to Quality of Care
• Patient Experience Is Improved
• Lessening of the administrative burden

Pharmacy

Pharmacy Management System offered by M3 Technology is to aid in the automation of the pharmacy workflow. This involves performing duties like analysing doctor orders and creating prescriptions, managing inventories and ordering drugs, dealing with invoicing and insurance, offering counselling, spotting incompatibilities, and more, all while adhering to legal requirements and policy.

And these are merely the conventional tasks that are automatable. The addition of many more features could deliver the pharmacy a strategic advantage by improving the patient experience and luring clients with more individualised and improving the quality of care. Let's now go over the major advantages a management system for pharmacies will enable you to achieve.

Advantages

• Enhancing the performance of pharmacists: The majority of a pharmacist's working hours are spent dispensing medications. This activity necessitates intense concentration, extensive verification, careful consideration of drug interactions, and the ability to decipher the doctor's handwriting.
• Increasing patient health results: The system can either directly or indirectly aid patients in receiving better counselling from pharmacists when they seek that therapy. In addition to spending more time in-person with a consumer, pharmacists can interact with them online via a patient portal. Additionally, a pharmacist can gain access to a patient's prescription history to provide more accurate advice by connecting to a hospital's electronic health record. Additionally, patients can monitor the medications they take by using specialised tools for medication adherence, which make it simple for them to effortlessly refill refillable prescriptions and receive messages about them.
• Avoiding medical fraud: By inputting all prescription information into the Prescription Drug Control Program database and reviewing it while distributing medications, pharmacies play a crucial part in aiding in the management of the distribution of prohibited dangerous substances (CDSs).

Features

• Online ordering processes: These systems, which are frequently offered by pharmacy distributors, enable pharmacists to place medicine orders online.
• Systems for perpetual inventory: In this manner, the drug is automatically taken out of stock and you constantly have the most recent stock data.
• Systems for automatic dispensing: For a pharmacist, these devices automatically count and distribute pills. Even the label is printed and applied to the bottle by very sophisticated technology.

Inventory Management

Health system orders, purchases, inventories, payments, sales of health products, and prescriptions are all tracked via a workflow called healthcare inventory management. With a precise and updated supply and products log, a business may prevent supply and financial losses.

Management of the healthcare inventory is crucial to the operations of medical facilities. Hospitals and other healthcare facilities can streamline their operations with the use of inventory management systems to save time & expense while still offering patients high-quality treatment.

Egypt HealthBook more efficient inventory control system makes it simpler to track supplies and equipment, which enhances departmental coordination, decreases theft, boosts productivity, upholds compliance, and shortens the time required for medical staff to sign supplies and equipment in and out. Your organization's internal operations are improved when you improve hospital inventory management.

Features

Healthcare facilities must maintain records of a variety of goods, including:

• Medical equipment
• Medical supplies
• Medications for patients
• Products for wellness and health

While a straightforward Excel spreadsheet would appear to be sufficient for inventory management, a simplified inventory management system is actually more productive. Medical facilities can save time, cash, and effort by having an effective management process. Medical facilities are under pressure to minimise expenses, and one way to do so is to streamline inventory management.

Benefits

• Delivery of improved clinical results on a regular basis.
• Maximum utilisation of the resources at hand without wastage.
• Maintaining quality in procedures and standards.
• Proper stock balance, with no perishables held back.
• Continuous, cutting-edge patient treatment

Warehouse Management System

The medical and pharmaceutical industries have been compelled to take action by the rising expense of healthcare in Egypt. Using a warehouse management system will lower costs, increase labour productivity, and assure regulatory compliance if your business handles, stores, ships, or disburses prescription pharmaceuticals, medical equipment, medical devices, or medical supplies.

The usage of barcode scanners and inventory management software alone is insufficient for healthcare & pharmaceutical life science products. Due to the complexity of managing regulated inventory, warehouse management software must be flexible, have thorough functionality, be able to document processes, and provide end-to-end traceability.

Advantages

Despite being highly regulated and sophisticated, the healthcare sector is nonetheless under pressure to cut costs in order to make patient care more affordable. To automate business activities and quality control procedures while assuring compliance, the Egypt HealthBook  warehouse management system uses flexible workflow. Businesses may scale up and react to changing overall operations by utilising flexible workflow.

• Decreasing data errors
• Increases labour productivity
• Reduces redundancy
• Simplifies quality assurance procedures
• Decreases the regulatory penalties for non-compliance
• Lowers the cost of carrying inventories

Vendor Management

A vendor management system enables firms to on board, communicate with, and conduct business with their outer workforce, including suppliers of materials, wholesalers, service providers, independent contractors, and more. By implementing a VMS, businesses create a standardised and well-regulated method for choosing, working with, and evaluating vendors. Implementing Egypt HealthBook vendor management system is beneficial because:

• Time savings as a result of vendor self-boarding, the removal of in-person discussions, and the sharing of documents via email.
• Cost savings as a result of open bidding and reduced-risk vendor agreements.

Features

• Workflow for vendor self-registration
• Workflow for on board vendors
• Manage vendor profiles
• Segmenting vendors
• A form for purchasing requests
• A request is approved.
• Demand for quotation (Invitation for bid)
• Processing offers received
• Automatic production of purchase orders from requisitions
• Invoicing
• Order control
• Enterprise intelligence

Advantages

Here are a few more benefits of using a Egypt HealthBook solution vendor management system.

• The use of staff and financial resources can be kept to a minimum with a good vendor relationship management programme.
• Timely provision of products and services
• Along with your constant results delivery, customer connections also improve.
• The processes involved benefit from a vendor management system's uniformity and efficiency.
• Utilizing KPIs and bespoke reports, you may evaluate vendor performance. It all happened with no manual labour.
• Increase productivity by streamlining the buying process.