Question

The physician’s primary aim is to provide health care for those who require it; however, it would be unrealistic to ignore another reason for practicing medicine, that is, to provide a livelihood for the physician and the physician’s family. This livelihood depends on the good credit of those the physician serves. The word "credit" comes from the Latin word "credere," which means “to believe” or “to trust.” In today’s world, it simply means a trust in a person’s integrity and in his or her financial ability to meet all obligations when they come due.

In your post, analyze the concept of the revenue cycle and the different types of fee schedules. Think about questions such as how revenue is generated throughout the healthcare organization. What would happen if no payments were received. Which fee schedules seems like the most or least effective.

Answer 1

Revenue cycle processes flow into and affect one another.In the cycle if all the processes are executed correctly ,the cycle performs predictably.if any error occurs in the revenue cycle ,the revenue recovery becomes costly.It is a financial process,which encopass manly with claims processing,payment and revenue generation.it will be difficult for healt care organizations withoutusing this financial process.Pre-registration is the key to optimize health care revenue cycle.This system is unique because bills and claims are usually processed over a long period of time.Sometimes it happens that claims go back and forth between payers and providers for months until all the issues have been resolved and patients do not usually have all the fumds available to immediately ay medical bills.Collecting at point-of-service has become more complicated,as most of the patients cannot afford to pay medical bills upfront.Fee -For-Service model is currently the top model for improved outcomes and lower costs.