What are the four distinct steps of the revenue cycle?

PART 1

In the management of the revenue cycle in the healthcare environment, we have four clear steps: establishing effective policies and procedures, implementing/evaluating an accounting system, implementing/evaluating a medical records system, and implementing/evaluating a credit and collections system. Each of these steps are central to the success of the organization, and any weakness at just one of the steps leaves your organization critically vulnerable.

The passing of HIPAA (as a transactional standard) gives us the unique opportunity to improve revenue cycle performance. As you grow in financial managerial skills, it will help you to conceptualize the revenue cycle as a continuum, instead of a set of isolated happenings. This Module’s Case will challenge you to study each of the four steps, and then explain their central nature to organizational success.

Don't use plagiarized sources. Get Your Custom Essay on
What are the four distinct steps of the revenue cycle?
Just from $13/Page
Order Essay

Case Assignment

After completing the required readings:

  1. What are the four distinct steps of the revenue cycle?
  2. How does each portion of the cycle specifically support organizational success?
  3. How does the economic status of the patient population and the patients’ ability to pay impact revenue cycle and viability of the organization?
  4. How can revenue cycle management be improved using the five key areas noted by Dr. Nowicki (2018; see required background reading)?
  5. Which step do you feel your organization (or most organizations) struggles with the most, and why? Be as specific as you can in your explanations.

Assignment Expectations

 

  1. Conduct additional research to gather sufficient information to support your analysis.
  2. Provide a response of 3-5 pages, not including title page and references.
  3. As we have multiple required items to be addressed herein, please use subheadings to show where you’re responding to each required item and to ensure that none are omitted.
  4. Support your paper with peer-reviewed articles and reliable sources. Use at least two from peer-reviewed sources. For additional information on how to recognize peer-reviewed journals, see http://www.angelo.edu/services/library/handouts/peerrev.phpand for evaluating internet sources:
    https://www.library.georgetown.edu/tutorials/research-guides/evaluating-internet-content

 

 

PART 2

 

In the majority of healthcare organizations, materials (including pharmaceuticals and expendable supplies) comprise the largest portion of the non-labor costs in the operating budget – thereby making it deserving of our focus and study. Correct management and control of your inventory has a direct and significant effect on your financial operating costs, and therefore, the total net income of your organization.

The process of materials management (the control of an organization’s inventory, services, and equipment from acquisition to disposition) allows for cost control and also allows the organization to operate correctly – having enough of each needed supply (medical, administrative, housekeeping, and/or clerical) on hand at the precise time it is needed. Once you’ve read the assigned background readings, as well as completed some peer-reviewed research of your own, please answer the following:

  1. What are the best practices in inventory management that healthcare managers should implement and be consistent in using?
  2. How are each of the four methods of valuing inventory used by healthcare organizations?
  3. Choose one expendable item used in the healthcare setting, and show the value calculation for 500 of that particular item, using one of the methods of inventory valuation. Investigate a current-day cost of the expendable item to make your calculations as accurate as possible.
  4. How do we best prepare for uncertainties in our inventory, and what would a correct re-order point be for expendable medical supplies?

SLP Assignment Expectations

  1. Conduct additional research to gather sufficient information to support your analysis.
  2. Provide a response of 3-5 pages, not including title page and references
  3. As we have multiple required items to be addressed herein, please use subheadings to show where you’re responding to each required item and to ensure that none are omitted.
  4. Support your paper with peer-reviewed articles and reliable sources. Use at least two peer-reviewed sources. For additional information on how to recognize peer-reviewed journals, see http://www.angelo.edu/services/library/handouts/peerrev.phpand for evaluating internet sources:
    https://www.library.georgetown.edu/tutorials/research-guides/evaluating-internet-content

 

Essaywriters4me

Calculate The Price Of Your Paper

Pages
{{total || ""}}

Why Choose Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Freebies
Our FREE services
Every order comes with these awesome features.
Order Now
Money Back Guarantee
FREE Best essay writer across your subject
FREE Cover page and bibliography
FREE APA/MLA/Chicago formatting
FREE Free Revisions
FREE 24/7 customer support hotline and chat

Essays

Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission and Business Papers

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Editing

Editing and Proofreading

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Coursework

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.