Anywhere Hospital’s revenue cycle starts when a patient registers for a medical service and ends once the claims and payments have been collected by the hospital. A revenue cycle encircles all administrative, clinical and financial functions that contribute to 13 different elements once a patient has registered within a healthcare system, this lead to the capture, management and collection of patient revenue.
Let us look at the first step registration; this starts when a patient schedules a service with Anywhere Hospital, which includes demographic information that must be verified and validated from there we then go to eligibility and benefits. The revenue cycle will verify what the patients insurance will and will not cover and then contact the …show more content…
We ensure that all of our coders are trained yearly to make sure they are up to date with any changes made, we also make sure they have all the materials they need to properly code the patient’s documentation, so that we have the correct codes for billing. To make sure information is correct we provide training and support should our clients need help entering any data. Should a patient be referred from other providers we also offer help on approving and keeping up with the status of each referral. We also help authorize and schedule for any procedures that are required for the patient whether it is written or verbal. Our billers will also take care of your charges posting from the patients stay. Once we have posted the charges into the system, we then submit the electronic claims to respective party’s or payers. We also handle denials and provide the hospitals with suggestions to lower the number of denied claims and send a detailed report daily, weekly, monthly and an end of year report. Insurance payments are posted to the patient’s account within 24 hours; secondary claims are also generated and sent out to the insurance company the patient is using. Payments are
Let us look at the first step registration; this starts when a patient schedules a service with Anywhere Hospital, which includes demographic information that must be verified and validated from there we then go to eligibility and benefits. The revenue cycle will verify what the patients insurance will and will not cover and then contact the …show more content…
We ensure that all of our coders are trained yearly to make sure they are up to date with any changes made, we also make sure they have all the materials they need to properly code the patient’s documentation, so that we have the correct codes for billing. To make sure information is correct we provide training and support should our clients need help entering any data. Should a patient be referred from other providers we also offer help on approving and keeping up with the status of each referral. We also help authorize and schedule for any procedures that are required for the patient whether it is written or verbal. Our billers will also take care of your charges posting from the patients stay. Once we have posted the charges into the system, we then submit the electronic claims to respective party’s or payers. We also handle denials and provide the hospitals with suggestions to lower the number of denied claims and send a detailed report daily, weekly, monthly and an end of year report. Insurance payments are posted to the patient’s account within 24 hours; secondary claims are also generated and sent out to the insurance company the patient is using. Payments are