Question

Explain what steps ensure accuracy of the overall payment policy in medical billing and how this relates to the overall revenue cycle management of the office

Answer 1

Revenue Management (RCM) is a financial method used by medical institutions to use a medical payment program to monitor patient care segments, from registration and placement to the remaining funds.

Medical billing process and revenue cycle management process:-

* Price: Provides affordable medical services.

* Filing a claim: Provide a history of the insurance company.

* Coding: Correctly review and review code.

* Patient Collection: Determining the remaining patient funds and fundraising.

* Pre-registration: Gathering pre-registration information, such as insurance coverage, before the patient reaches outsourced or out-of-state activities.

* Enrollment: Establish multiple medical records and collect patient follow-up information during enrollment to meet various administrative, financial and medical requirements.

* Collecting Payment from Patient - mobile and online payment are two methods used today to simplify patient collections.

* High-cost processing: Request or refuse to pay using high-cost processing.

“Third Prosecution: We collect payments from other insurance companies.

* Examinations review: Assessment of medical services needs.