View attached explanation and answer. Let me know if you have any questions.Hello, 😉 I have uploaded the assignment before the initial deadline to give you time to ask for any revisions. Kindly go through the work as soon as possible. Let me know if you need any clarification.Always a pleasure to work with you again. Feel free to INVITE me PRIVATELY for future tasks. Goodbye. 😊1Discussion BoardStudent’s NameUniversityCourseProfessorDate2Discussion BoardHIM experts may be hired as revenue cycle auditors or revenue integrity auditors toassist businesses in finding places where they are not meeting regulatory requirements forfinancial agreement, coding, or revenue cycle administration data collection. Most parts ofthe medical system get affected by new approaches, which increase the already substantialadministrative load associated with the system’s payment systems, financial obligations,regulatory mandates, and quality benchmarks. In light of these intricate methods, healthcareorganizations have been concentrating on improving their reimbursement management(McWay, 2020). The term “revenue cycle management” describes the coordinated effort ofmedical and administrative staff to effectively track, monitor, and retrieve payments forservices rendered to patients.Ways of Improving Revenue Cycle in HealthcareEnsuring an Efficient Pre-Visit ProcessThe management of the revenue cycle consists of several different steps. Before apatient is treated or a service is performed, the process begins with most people who work incare delivery. This includes gathering any co-pays from the patient, authenticating anypremiums that will be charged once treatment services are performed in the future, anddetermining whether or not pre-certification for therapy and evaluation of medicallynecessary coverage are required (McWay, 2020). If there is going to be financial adviceperformed, this will be done at this point.Ensuring Right CodingMany things happen after therapy or services have begun or been delivered. All costsassociated with patient care must be identified and recorded in the reimbursement rate. Thehealth record’s medical notes are compared with the bills to allocate the correct diagnostic3and procedure coding to the patient’s…
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