Business > CASE STUDY > Week 6 TD Revenue Cycle Management.docx WK6 Revenue Cycle Management Describe the imp (All)

Week 6 TD Revenue Cycle Management.docx WK6 Revenue Cycle Management Describe the imp

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Week 6 TD Revenue Cycle Management.docx WK6 Revenue Cycle Management Describe the importance of revenue cycle management in the acute care environment and the impact it can have on the healthcare... organization. In your description be sure to identify the consequences of improper revenue cycle management as it pertains to the healthcare organization. With technology advancements and an aging population, health care costs are on the rise. With the rise in health care costs, it is important for hospitals, physician offices, and large health care systems to develop and maintain successful processes and policies to maintain financial stability (LaPointe, 2016). Developing and maintaining financial stability is done through revenue cycle management (RCM). Harrington (2020) defines RCM as a complex process that involves balancing people, processes, technology, and the environment in which the process takes place (p. 306). LaPointe (2017) explains that the health care revenue cycle encompasses all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue. As health care organizations transition from fee-for-service (FFS) to prospective payments systems (PPSs), RCM has become the center of managing organizational finances (Harrington, 2020, p. 175). In the FFS environment, health care organizations were able to bill for every service provided. However, when shifting to PPS, the focus of reimbursement is no longer focused on managing revenue from the . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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