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.