1. a. Define the term average collection period (ACP).
b. How is ACP used to monitor overall revenue cycle performance?
c. What is an aging schedule?
d. How is an aging schedule used to monitor overall revenue cycle performance?
2. a. What is a metric?
b. What role do metrics play in revenue cycle management?
3. a. What is the difference between free trade credit and costly trade credit?
b. Should businesses use all the free trade credit that they can get? Explain your answer.
c. Should businesses use all the costly trade credit they can get? Explain your answer.
4. Explain briefly how healthcare providers typically obtain secured short-term financing, if such financing is needed.