Question
A- . You are trying to improve the revenue cycle and would like to achieve the following development of key metrics or performance indicators that
A-. You are trying to improve the revenue cycle and would like to achieve the following development of key metrics or performance indicators that will eval if improvement is needed and that income is fully and effectively captured. Areas of focus will be ; ICD-10 coding, clinical documentation, billing, and collection of payments. Company Data info Accounts Receivable = $270,000 Total Number of Claims Denied = 1,500 Average Daily Net Patient Service Revenue= $4,700 Number of Correct Coding Data Elements = 5,100 Total Data Elements Required at Coding =6,000 Total Number of Claims Remitted = 45,000 Days between Service Date and Posting of Charge = 5
B.- Using the information above that is provided , calculate the following ( show calculation) a. Claims Denial Rate = b. Coding Quality Score = c. Net Days in Receivables = d. Charge Lag Days = -Then Decide which of the 4 process areas each one is used for to measure and monitor revenue cycle management and explain why
C.- Lastly; Based on your results from the above 4 performance metrics (a d) above, provide an assessment of the organizations revenue cycle core processes and what areas of improvement would be needed
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