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Revenue Cycle Improvement in Healthcare - Case Study Example

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This paper "Revenue Cycle Improvement in Healthcare" focuses on the providers of healthcare services that consider every step in their services and that there is no room for erroneous moves concerning the collection of revenues and reimbursements for delivered services. …
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Revenue Cycle Improvement in Healthcare
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"Revenue Cycle Improvement in Healthcare"

Download file to see previous pages Therefore, this manual is a guide that gives an alternative approach to the management of revenue cycle components. The manual includes the best strategies for managing patients at five stages in the hospitals. For instance, the guide will consider best practices for patient access, charge capture, utilization review, and billing and payment accuracy.
This approach puts the patient at the focal point of the process of revenue collection (RHIP 2014). The approach also encourages the hospital staff concerned with the process to build better approaches with the patients. The third element of the approach is an established communication with the patients either in written or orally. The creation of a positive experience for patients within the revenue cycle forms a critical step towards the success of the program. As such, the hospitals should train their staff to meet the customer satisfaction points. For example, the workers should answer questions related to the healthcare marketplace. They should also articulate coverage options and discuss the options available for payments. Lastly, the hospital staff should know when or when not to escalate. Therefore, the hospitals should adopt methods that will make the customer aware of all the billing processes at the hospital.
The existence of a centralized system gives the patients a one-stop chance for a single contact centre. It also minimizes the possibilities for errors and missing data. There is an understanding that deficiencies in data systems could result in backlogs clear a patient’s financial records. Best practice hospitals should engage in a number of methods that will realize the efficiency of the revenue cycle. First, the hospitals should have a centralized scheduling for receiving patients. Such a step will help the hospitals to have a precise projection of the types of patients that they receive and the details of their payment abilities.  ...Download file to see next pagesRead More
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