Reveneu
cycle
It can be defined as all administrative and clinical function
that contribute to the management ,collection of patient and
capture of patient service revenue
There are mainly 10 steps are there in the reveneu cycle
the first three steps are the following
1)Patient
registration
- In this data or the information which include insurance
verification is well detailwde in a format and to process the claim
for the service that renderd by health care
- Where us RCM company holds a strong grip on patients record in
order to the flawless billing
- But the important thing is that the above methods are only for
the new appointment .The information of the old appointment will be
already saved
- By this it gives th oppurtunity to medical billers to verify
with details provided with submission
2) Insurance
verification
- It is the 2nd step in the cycle
- So in this the medical billing team very strictly ensure the
patients insurance strictly
- Also eligibility and policy benefits are thoroughly
focused
- It also able to check the patient’s responsibilities such as
co-pay,deductible and out of pocket wheather the patient had
accumulated the expenses
- Mainly the staff use software system to verify the patient’s
data in order to speed up the work
3)Encounter
- In this step when the patient consults healthcare provider ,the
details of the condituion and service performed is recorded either
by audio or video mode
- It is mainly recorded in front of the patient
- It gives a clarity about the condition and medications that
health provided has prescribed
- Then after they submit that record to the RCM company to
process medical billing and claim the reveneu