Revenue Cycle Management – Article Review – wick509
Revenue Cycle Management
Prof: Name: Date: April 2016Assign: Revenue cycle managementThe articles were about how health care industry using information technology (IT) has affected the hospital and the health care system in general. Healthcare Executives Develop Revenue cycle management (RCM) to effectively control health care system financials. The first article was on intermountain integrates revenue cycle management. Intermountain will be integrating cycle revenue for a large health system. The article explains how difficult it uses to be to administer the cost of health. Todd Craighead intermountain vice president of revenue cycle organization was asked to develop a more effective approach to consolidate the costs. Tom has stated many challenges that providers have accounted before integrating cycle management system. One of the issues were decentralization, each individual hospital had a director. Second was the denial rate was high. The next big challenge was price transparency and patient engagement. After implementing the cycle management there is a more centralized appeals team that has successfully kept denial rates low. Second All Executives report directly through one cycle management. Other directors focus on pre-registration and scheduling. Even there biggest challenge price transparency and patient engagement were consolidated using cycle management.
The other article emphasizes the reasons cycle management was implementing and the benefits of the system in health care. One reason health care Executives develop the cycle management is Because how fast the healthcare industry is growing in this country, is it becoming very difficult to manage both health care providers and payers relatively with complicated contractual agreements and reimbursement terms involved. It is very common that some providers deal with several hundred different health plans and arrangements. Providers will short on expected return revenue if there is not an appropriate tool to manage the billing and reimbursement terms of these agreements. In addition there another type of claims that are very complex for providers, for example, Government claims.
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(2016, 04). Revenue Cycle Management. EssaysForStudent.com. Retrieved 04, 2016, from