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:
Collaborative relationship
Explanation:
Here, it requires at least 2 parties to consent to this and the aim is to allow mutual benefits between both parties where they both benefit from each other. Thus, with this, more resources can be pumped to get the appropriate supply that is technologically advanced and equipped to to be used to foster the business
Answer:
sold
Explanation:
Underperforming restaurants are those restaurants which does not perform well. The restaurant does not run properly and no people or less people visits the restaurant for eating.
This can be due to several factors. The restaurant's location may not be good, the restaurant may not provide good quality and tasty food, or people might not find their required menu in that restaurant. All these factors leads to less people visiting the restaurant and less revenue generation.
In such a case, the owner of the restaurant must sell the restaurant to some other party so that he does not undergo any losses. By selling the property he will get some amount of his investment which he could utilize in his further projects.
Also by selling the restaurant, the employees of that restaurant will not go out of job and can feed their family.
So, the restaurant should be sold.
The answer is: Pareto chart
Pareto chart is the combination of line and bar graphs. This type of chart is usually used to present data with frequency of nonoccurence and unite measurement at the same time.(frequency of accidents and number of factors that cause the accidents. )
Other than that, Pareto chart is also commonly used in quality control or searching the highest cause of defects.
