Question

One of the first things you learned as a new employee of the medical center was the critical importance of the revenue cycle and its consequential management. You were eventually promoted to the position of revenue cycle auditor, which requires you to complete the following auditing processes:
•Compliance monitoring
•Denials management
•Tracking resubmitted claims and appeals for denied claims
•Posting late charges and lost charges

Your job also requires you to monitor resource allocation using data metrics and analytics reported by departments of the medical center and state health care organizations. You are able to utilize data analytics from data warehouses as well as perform data mining.

What is the definition of revenue cycle management?

Answer 1

Revenue Cycle Management can be defined as the process utilized by healthcare providers to track patients' payments from the pre-registration stage to the point when they make their final payments.

Importance of the Revenue Cycle Management

Revenue Cycle Management is important because it can help the healthcare providers to realize abnormalities in their payment processes and rectify them.

This procedure will also help the providers to know how much claims should be returned and at what time.

Learn more about Revenue Cycle Management here:

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