By DeVry University
February 9, 2022
4 min read
February 9, 2022
4 min read
Every healthcare organization has to have a plan for how they approach revenue cycle management. This vital practice enables companies to monitor the revenue they receive from patients from the beginning of their care process to the end, providing them with data that facilities can use to improve practices and patient care.
If you're interested in working in the healthcare field in a non-clinical role, then healthcare revenue cycle management might be a career to consider. Revenue cycle management is an important business measure, as it helps ensure that patients aren't getting overbilled and that your care facility is being properly paid by insurance companies.
In this article, we'll explain the basics of healthcare revenue cycle management, explore how medical billing and coding play a role in the cycle and more as we explore the following sections:
The healthcare revenue cycle management process begins as soon as a patient schedules their first appointment. This step requires the care facility to gather all of the information they will need to treat and bill the patient, such as the patient's name, address, contact information, insurance and any medical records. While the patient is responsible for providing much of this information, it's the responsibility of the care provider to ensure that all the information they receive is accurate and up to date.
During this process, the care facility's medical coding staff uses standardized medical coding methods to apply codes to the procedures that a patient receives. When done properly, medical coding helps to keep the care process moving smoothly without administrative interruption.
Finally, the healthcare revenue cycle management process concludes when the patient pays their final bill. To ensure that the bill they receive is accurate, a medical billing professional reviews the work of the medical coder and scrubs the bill for any potential errors. By scrubbing for errors, they can ensure that the bill the patient is provided does not get rejected by their insurance company, making the entire process smoother for all parties involved
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In New York, DeVry University operates as DeVry College of New York. DeVry University is accredited by The Higher Learning Commission (HLC), www.hlcommission.org. The University’s Keller Graduate School of Management is included in this accreditation. DeVry is certified to operate by the State Council of Higher Education for Virginia. Arlington Campus: 1400 Crystal Dr., Ste. 120, Arlington, VA 22202. DeVry University is authorized for operation as a postsecondary educational institution by the Tennessee Higher Education Commission, www.tn.gov/thec. Lisle Campus: 4225 Naperville Rd, Suite 400, Lisle, IL 60532. Unresolved complaints may be reported to the Illinois Board of Higher Education through the online compliant system https://complaints.ibhe.org/. View DeVry University’s complaint process https://www.devry.edu/compliance/student-complaint-procedure.html Program availability varies by location. In site-based programs, students will be required to take a substantial amount of coursework online to complete their program.
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