Topic: Functions of the Revenue Cycle

Details: As indicated in the introduction to this unit, the revenue cycle process contains many different components. While the revenue cycle may seem simple and irrelevant compared to the services delivered in a complex surgical procedure, the various functions of the revenue cycle are the most critical for the organization in terms of financial health.
For your initial response to this discussion, share the results of the research you did in this unit’s studies.
In your post, include:
A description of what a function is.
The point at which the patient experiences the function, such as admissions, throughout the patient stay, post-discharge, or other.
Why this step is critical to the financial health of the organization.
An outline of potential errors that may occur during the function you have identified and the impact these errors will have on the remainder of the revenue cycle process. Examples include wrong policy number recorded during registration, not verifying insurance at time of registration, or not verifying codes prior to claim submission.
Response Guidelines
As noted in the FEM, respond to a peer or peers who answered one of the last two bullets differently than you. Engage in a collegial debate in support of your answer, supporting your claims with cited resources.
Resources
Discussion Participation Scoring Guide.
APA Style and Format.
Health Care Administration Undergraduate Library Research Guide.

Solution Preview

Revenue cycle refers to the processes involved in the collection of patient services relating to revenue. Revenue cycle is a dynamic process that involves balancing processes, technology, people, and the surroundings in which all these activities will take place.

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