Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Today you were hired as the Assistant of Revenue Cycle for a large health delivery organization. The company president feels the revenue cycle process has
Today you were hired as the Assistant of Revenue Cycle for a large health delivery organization. The company president feels the revenue cycle process has been running on autopilot for some time and that revenue is probably being "left on the table" or being lost. Your goal is to review the revenue cycle process and develop key performance indicator metrics that will be used to measure and identify areas needing improvement or change to ensure that revenue is completely captured in an efficient and effective manner. You have decided to concentrate on 4 core process areas of coding, clinical documentation, billing, and collection of payments. 1. Claims Denial Rate = 25% 2. Coding Quality Score = 75% 3. Net Days in Receivables = 60 days 4. Charge Lag Days = 7 days Based on the above 4 performance metrics above, provide an assessment of the organization's revenue cycle core processes including any areas you feel have an opportunity for improvement and why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started