Revenue Management Department - RMDOverview · Benefits · Development Process The creation of a discrete, internal Revenue Management Department (RMD) provides the infrastructure necessary to capture revenue at the point of service, produce an accurate bill, and collect expected payments. IRM provides a multi-year focus on the development of the department, which is chartered to protect and secure all appropriate net income.
The IRM model for a successful RMD is comprehensive in scope and complex in design. It requires management commitment and perseverance. IRM provides training for the basic, intermediate, and advanced skill sets required of both clinical and administrative specialists. We have the technical and managerial experience to put those skills to optimal use. IRM's goal is to provide a long-term supportive role with its clients in the design and development of the RMD. IRM supports a multi-year business relationship with its partner hospitals. To support the implementation, development, and maturation of the hospital's RMD, IRM creates a multidisciplinary team led by a Director of Revenue Management and a dedicated senior executive. The team includes both clinical and administrative specialists in revenue management, process improvement engineering, and professional education and development. IRM's team utilizes a proprietary training program in its support of the RMD staff. IRM provides comprehensive transactional software applications to support the metrics necessary to track and trend all department audit activities and results. |
