Revenue cycle management Essay Example | Topics and Well Written Essays - 250 words

Revenue cycle management - Essay Example In addition, he has to explain to these employees of the need to move to the integrated system so that the process is effective for the hospital. One key area that he needs to address is scheduling with accuracy. The details of the employees in the new system will have to be obtained accurately in order to save time that would be otherwise wasted in tracing such information. It will also assist in storing accurate preadmission details which will enhance future diagnosis. The second step is the verification of benefits in advance. Going with the procedure to be conducted, it is necessary to verify insurance information and the validity of cover of a patient (Townsend & Coleman, 2014). If the payments are self made, then it may be important to ask for them before surgeries so as to cut on bad debts and avoid belated cancellations in the event that it is difficult to make the payments. Establishing a plan for all the outstanding balances will assist in cash management. Anywhere Hospital will stay afloat of excess balances and ensure that all amounts are collected timely. The revenue collection schedule will have to be maintained for the shift to the integrated revenue collection system to be