Task 1: Financial Resource Management

Western Governors University Healthcare Financial Resource Management C811

A. Revenue cycle The revenue cycle for a healthcare organization is intricate and detailed as it is run just like a business. The first stage of the revenue cycle is collecting and documenting the patient's information and the services that have been provided to them. They will then be charged for the services after which the bill and claim will be created, reviewed and submitted to the payor. The last step is collecting the payment. The cycle begins with providing the patient with services in office and collecting the necessary documents to record that visit. The patient is required to offer personal...