Updating accounts receivable is part of revenue cycle.
The procedure used by healthcare systems in the United States and around the world to track patient income, from their initial appointment or encounter with the healthcare system to their final payment of debt, is known as revenue cycle management (RCM). It is a typical component of healthcare management.
What is revenue cycle?
- The phrase "all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue" can be used to describe the revenue cycle.
- It is a cycle that explains and illustrates a patient's life cycle (and the ensuing income and payments) during a typical medical interaction, from admission (registration) through final payment (or adjustment off of accounts receivables).
- After a patient makes an appointment, the revenue cycle starts, and it ends when the healthcare provider has taken all of the payments. Errors in revenue cycle management may result in payments to the healthcare provider being delayed or nonexistent altogether.
- Healthcare providers can outsource their revenue cycle management to businesses that handle this complex process with specialized agents and proprietary technologies to manage healthcare provider revenue cycles because the revenue cycle process is complex and subject to regulatory supervision.
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Answer:
C) Debit Cash $2.02 million; Credit Other financing sources $2.02 million
Explanation:
<u>A private firm will reocrd as follow:</u>
As the bonds are sold at a higher price than their face value we recognize a premium which will be amortized over the life of the bond.
<u><em>But in this case, we are doing a public accounting thus,</em></u> we must record the cash received and credit other financing sources for the whole amount funded.
If a test is being used to make a dichotomous decision (e. G. , suitable or unsuitable for the job), the cutting marks the point of decision.
<h3>What is the usefulness of cut off mark in a test?</h3>
cut off mark in a test is been used in the selection process after the test which is very important in the point of decision.
And this will be necessary to get the good hand for the job when the test is being used to make a dichotomous decision.
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The answer is networking, if there’s more to it then it’s networking to generate leads.
The trading bloc consisting of 28 trading partners in Europe is the EUROPEAN UNION. European Union is a political and economic alliance among 28 countries members that located primarily in Europe. Some of the members are: Germany, Poland, Italy, United Kingdom, France, Belgium, Netherlands, etc.
