Discussion Post: Revenue Cycle Management
One hot topic in many health care organizations today is revenue cycle management. We typically do not get paid when services are rendered nor do we get the full cost of providing that care. As a result we incur costs for facilities, supplies, and labor that must be covered. The ultimate goal of revenue cycle management is to convert services into the correct amount of cash reimbursement. This can be a bit difficult for medical practices. One reason is that providers often forget it is a business.
Discuss why it is important for the practice physicians to be involved in revenue cycle management:
a) What role do you see them having in this process?
b) What message does such involvement send to staff? Do you think it will compromise patient care?
c) What would say to a provider who shows some resistance to being a part of the process?
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.