Question

List and explain the four common strategies which have been developed to improve the efficiency and effectiveness of cash collection in the revenue cycle

Answer 1

1 reduce the credit period of customer which will help to earlier collection of cash from customer.

2.enhance pre admision contact.

3.use software solution to streamline revenue cycle management ( RCM)

4.final consideration

example- while consistently the topic of political debate the continued evolution of the heathcare syastem in america will largely be shaped by the patients themselves and those medical providers who treat them.on the patient side,you have growing rates ogf obesity,heart disease, diabetes,alzheimers and other chronic condition which require ongoing medical care.

how healthcare org. adapt to both value based payout model and mounting demand for digital solution will forge the future of revenue cycle management as the country knows it.

5.some other strategies.

• increased accuracy with all account information.
• timely verification and processing account information.
• improved efficiency with charge posting and coding .
• shortened timeframe from discharge to final bill.
• reduced volume of claim denials.
• increased the cash flow .
• reduced outsatnding days.
• lower bad debts and charity write off.
• streamline existing process.
• optimize use of current software.
• greater intigration among disparate system.