You have been recently hired at UMGC Health as a financial consultant. One of your job duties entails educating new hires on the revenue cycle process.
For this assignment, you will prepare a 3-5 page white paper outlining the basic steps of the revenue cycle.
- Identify the various steps within the revenue cycle process, including admissions, case management, documentation, coding, billing, et cetera.
- For each step identified, provide details pertaining to the following:
- Purpose of the step identified.
- The individuals involved in the process (e.g., providers, transcriptionists, coders, registration clerk, etc.).
- The key components of the function, such as verifying insurance, financial counseling, coding of documented services provided etc.
- The consequences of failure to properly conduct the function identified.