--- title: Effective RCM Can Save Hospitals Millions description: The time to improve the RCM process can lead to them earning top-quartile revenue - effective RCM can save hospitals millions. Learn more image: https://www.eclathealth.com/hubfs/Revenue-1.png --- [![ECLAT 2](https://www.eclathealth.com/hs-fs/hubfs/ECLAT%20Corporate%20Logo/ECLAT%20Corporate%20Logo%20with%20Tagline/ECLAT%202.png?width=225&height=84&name=ECLAT%202.png)](https://eclathealth.com)   [Contact Us](https://eclathealth.com/index.php/contact/)[subscribe](https://www.eclathealth.com/en/newsroom/effective-rcm-can-save-hospitals-millions#) ### I’d like to learn more about ECLAT Health Solutions! read # Effective RCM Can Save Hospitals Millions Posted By Giovanna Stahl ![revenue cycle management](https://www.eclathealth.com/hubfs/Revenue-1.png) - ** - ** - ** A recent report by Advisory Board has found that hospitals are losing up to $22 million in revenue a year because they do not have effective and accurate[ revenue cycle management (RCM)](https://www.eclathealth.com/) in place. Advisory Board reported that although hospitals have enjoyed higher profits recently, the focus they have placed on the cost of RCM instead of improving RCM performance has caused them to miss out on millions of additional revenue they could earn. Although hospitals may believe that spending less on[ RCM ](https://www.eclathealth.com/)will earn higher revenue, taking the time to improve their RCM process can lead to them earning top-quartile revenue in four key areas: - Denial write-offs - Bad debt - Cost to collect - Contract yield Hospitals that work to create a better patient financial experience can get ahead in these four areas. As simple as this may sound, a large reason that hospitals miss out on so much revenue is due to human error while submitting patient claims to insurance providers. Before a claim is submitted, if the healthcare provider selects the wrong ICD-10 code for treatment given, the insurance provider may deny the claim, which is crucial revenue that the hospital misses out on. ## **Accurate Medical Coding and Billing Are Essential** Even though small clerical errors such as a few denied claims might not seem significant, too many of them begin to add up and subtract from a provider’s revenue. Accurate medical coding and billing practices will reduce the amount of denied claims and will ensure your hospital receives the quickest reimbursement possible, which will in turn generate more revenue. With the potential to earn much more annual revenue hospitals should not take the task of improving their RCM lightly. They must partner with the most effective healthcare support service provider that will help them meet and exceed their revenue goals with accurate medical coding. ECLAT Health Solutions can help your hospital improve its medical coding and billing practices with our accurate and efficient [medical coding services](http://eclathealth.com/index.php/coding-services/)! ### **The ECLAT Difference** ECLAT Health Solutions provides [coding, billing, and auditing services ](https://www.eclathealth.com/coding-services/)to healthcare services across the U.S.! Our unrelenting dedication to helping you meet your revenue goals, our highly trained team of medical coders, and our wide range of healthcare support services are second nature. We make quality our top priority and can guarantee 95% or higher accuracy in all our coding work. We never stop working to save you money, with our 24-hour turnaround and additional holiday and weekend coverage available upon request. Our satisfied client list includes hospitals large and small, surgery centers, physician offices, IPAs, and many more. Our comprehensive services are streamlined and well-tested, so you can be sure your hospital is in good hands with ECLAT. We have a passion for earning you as much revenue as possible. Don’t end up missing out on up to $22 million in revenue! Learn more about how we can help your hospital save millions by calling us at (703) 665-4499 or [filling out our contact form](http://eclathealth.com/index.php/contact/)!   *Source:* [http://www.prnewswire.com/news-releases/average-hospital-revenue-cycle-leaves-22-million-on-the-table-300480502.html](http://www.prnewswire.com/news-releases/average-hospital-revenue-cycle-leaves-22-million-on-the-table-300480502.html)   Tags: [Coding](https://www.eclathealth.com/en/newsroom/tag/coding), [RCM](https://www.eclathealth.com/en/newsroom/tag/rcm) ### Related Articles** ## [Coding Review: Viral vs. Bacterial Pneumonia](https://www.eclathealth.com/en/newsroom/coding-review-viral-vs.-bacterial-pneumonia) *( read )* Topics: [Coding](https://www.eclathealth.com/en/newsroom/tag/coding), [RCM](https://www.eclathealth.com/en/newsroom/tag/rcm) ## [Split/Shared E/M Visits](https://www.eclathealth.com/en/newsroom/em-visits) *( read )* Topics: [Coding](https://www.eclathealth.com/en/newsroom/tag/coding), [RCM](https://www.eclathealth.com/en/newsroom/tag/rcm) ## [Know the Code- Resistant Hypertension](https://www.eclathealth.com/en/newsroom/resistant-hypertension) *( read )* Topics: [Coding](https://www.eclathealth.com/en/newsroom/tag/coding), [RCM](https://www.eclathealth.com/en/newsroom/tag/rcm) ### Subscribe to The ECLAT Blog ### Follow Us - [****](https://www.linkedin.com/company/eclat-health-solutions) - [****](https://www.facebook.com/eclathealthsolutions) - [****](https://twitter.com/eclathealthsol) - [****](https://eclathealth.com/index.php/contact/) ### About ECLAT ECLAT Health Solutions, Inc. (ECLAT) partners with some of the country's largest health systems and government payers. Our Business Processing Outsourcing (BPO) and technology solutions provide revenue intelligence that enables our clients to reduce costs and improve revenue recognition and cash flow. Our ability to improve clients' outcomes through flexible, scalable services and technologies sets ECLAT apart from our competitors. ECLAT is a U.S. private-equity company with offices in the US and internationally. [![ECLAT all white logo](https://www.eclathealth.com/hs-fs/hubfs/ECLAT%20all%20white%20logo.png?width=2206&name=ECLAT%20all%20white%20logo.png "ECLAT all white logo")](https://eclathealth.com/) - [CONTACT US](https://eclathealth.com/index.php/contact/) - [CAREERS](https://eclathealth.com/index.php/careers/) 13221 Woodland Park Road Suite 420 Herndon, VA 20171 Main Office: [(703) 665-4499](tel:7036654499) © 2021 ECLAT Health Solutions ![](https://ws.zoominfo.com/pixel/6Wp2Zfvbb1SrrOIyFGtd)