Question

Managing the revenue cycle requires controlling several different components that work together to allow the organization to generate a “clean” claim for submission to the payor and receive payment. They are listed below--- Briefly discuss each.

Scheduling

Registration

Charge capture

Coding

Bill submission

Receipt and processing of payments

Answer 1

Scheduling - This step involves setting up the appropriate account for billing and contact.

Registration - Registration involves collection of information of the payor and prepare the account accordingly.

Charge Capture - This involves capturing all services/sales in appropriate codes as charges.

Coding - Establishing a unique code for all services/ products so that the charge is captured against the right code.

Bill submission - Post rendering the services/sale of goods, a bill has to be submitted stating the details of services rendered/goods sold.

Receipt and processing of payments - On a proper bill being submited , payment is processed accordingly.