What is a primary goal of revenue cycle management?

A primary goal of revenue cycle management is indeed to increase the efficiency of billing and collections. This process encompasses all the steps in the healthcare financial cycle, starting from patient registration and insurance verification to the final payment collection for medical services provided. By streamlining these processes, healthcare organizations can reduce errors, minimize delays in payments, and improve their overall cash flow.

Efficiency in billing and collections is essential, as it directly impacts the financial health of the organization. When billing processes are efficient, healthcare providers can submit claims accurately and promptly, follow up on unpaid claims effectively, and reduce the time it takes to collect payments. This not only supports the organization's sustainability but also enhances patient satisfaction by ensuring that financial interactions are clear and manageable.

The other goals mentioned, while important in their respective contexts, do not align as closely with the primary focus of revenue cycle management. For instance, improving clinical outcomes is related to the quality of care rather than the financial operations of the institution. Shortening a patient's length of stay is a clinical and operational goal that pertains more to patient management and care efficiency. Expanding facilities is focused on growth and development, which also does not directly relate to the revenue cycle processes.