Complete in a 7th edition APA formatted Word document in Times New Roman 12 font. The flowchart may be considered for one page of the assignment. No reference page is needed.
The revenue cycle is lengthy, complicated, and detailed, particularly in the healthcare field. That being said, the process is relatively similar throughout the healthcare industry.
1. Prepare a flow chart that outlines ALL of the major steps considered to be in the revenue cycle for a hospital. At each stage, identify:
a) Name of the step.
b) Which department/person is generally responsible for that particular step.
c) Why that step is important in the process.
2. Discuss why the revenue cycle is so important to the success of the healthcare facility.
3. Discuss 3 ways that a healthcare facility can optimize its revenue collections.
4. Conclude by addressing the importance of clear, concise, complete documentation and also medical necessity.