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Essay Available:
Pages:
9 pages/≈2475 words
Sources:
Check Instructions
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 42.12
Topic:

Healthcare Financial Resource Management

Essay Instructions:

*if this requires additional pages I am happy to pay just let me know.
A. Explain the activities of each step of the revenue cycle in the order they occur. The explanation includes the activities of each step of the revenue cycle in the order they occur, and the explanation is logical and accurate.
1. Describe the work of health information management (HIM) staff members during each step of the revenue cycle in which they would be involved. description addresses the work and involvement of HIM staff members during each step of the revenue cycle. The ideas presented are relevant and well supported.
2. Explain how coding and billing cycle processes impact healthcare organization revenue cycles.
The explanation addresses how the coding and billing processes impact healthcare organization revenue cycles and is relevant and clear.
3. Explain how the operating revenue impacts the revenue cycle.
The explanation addresses how the operating revenue impacts the revenue cycle and is relevant and clear.
B. Explain how to evaluate the financial condition of a healthcare organization. The explanation addresses how to evaluate the financial condition of a healthcare organization and is relevant and clear.
1. Explain how financial statements are reviewed for an organization to determine its profitability and risk. The explanation addresses how financial statements are reviewed for an organization to determine its profitability and risk, and the explanation is logical and well supported.
2. Discuss factors that influence the financial viability of a healthcare organization. The discussion addresses the factors that influence the financial viability of a healthcare organization, and the ideas presented are well supported and clear.
The discussion addresses how the financial decision-making process impacts the operations of a healthcare organization, and the discussion is well reasoned and clear.
C. Discuss how the financial decision-making process impacts the operations of a healthcare organization.
The discussion addresses how each of the given regulations impacts the financial decisions made by a healthcare organization. The discussion is well reasoned and well supported.
D. Discuss how each of the following Fraud & Abuse regulations impact the financial decisions made by a healthcare organization:
• Stark II--The discussion addresses the importance of Stark II to healthcare providers, and the discussion is relevant and clear.
• Anti-Kickback Statute--The discussion addresses the importance of the Anti-Kickback Statute to healthcare providers, and the discussion is relevant and clear.
• False Claims Act--The discussion addresses the importance of the False Claims Act to healthcare providers, and the discussion is relevant and clear.
1. Discuss the importance of Stark II to healthcare providers.
2. Discuss the importance of the Anti-Kickback Statute to healthcare providers.
3. Discuss the importance of the False Claims Act to healthcare providers.
E. Analyze the factors that influence healthcare pricing in healthcare organizations.
The analysis addresses the factors influencing healthcare pricing in healthcare organizations, and the ideas presented are logical and well supported.
F. Discuss the relationship between financial planning and strategic planning.--The discussion addresses the relationship between financial planning and strategic planning, and the ideas presented are relevant and logical.
1. Explain how a financial plan is developed.
a. Recommend how a HIM manager should interact with the finance department to ensure the efficacy of a financial plan.
The explanation addresses how a financial plan is developed, and the explanation is logical and well supported.
G. Explain the financial management control process, including budgeting and financial planning.
The recommendation addresses how a HIM manager should interact with the accounting department to ensure the efficacy of a financial plan, and the recommendation is well supported and logical.
The explanation of the financial management control process addresses both budgeting and financial planning, and the explanation is logical and well supported.
H. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available.

Essay Sample Content Preview:

Healthcare Financial Resource Management
Name
Institutional Affiliation
Course name & number
Professor
Due date
* Activities of each step of the revenue cycle in order
The initial step of the revenue cycle is preregistration, which is the most crucial step. Here, the front office personnel collects a patient’s demographic and insurance information and eligibility for coverage. It is then passed to the patient’s insurance provider, who discusses the patient’s coverage, deductibles, co-payments, or co-insurance. Also, the data is disseminated throughout the practice management system (Moheiser &Tolliver, 2020, pp. 10-15).
The second step is registration. During registration, the health personnel verifies that a patient’s address, contacts, date of birth, underwriters, and insurance information are correctly and appropriately secured. The co-payments are collected, authorization is given for specialist treatment, signing financial forms, and assigning insurance benefits. Charge capture is the third step. Here, charges are entered in the bill after services are rendered and submitted to the insurance provider for reimbursement (Moheiser &Tolliver, 2020, pp. 10-15).
The fourth step is claim submission. It involves the provider sending the bill to the insurance provider after charges are entered. The revenue cycle employees go through the bill and assign CPT codes and diagnosis codes to help identify and track. The team conducts claim scrubbing to ensure they are error-free and go through the insurance carrier system fast (Moheiser & Tolliver, 2020, pp. 10-15). Moreover, they track the claim’s report to see whether it was sent, when it came back, or whether it was rejected.
Remittance processing is the fifth step of the revenue cycle. The revenue cycle team sends out the claim and waits to get paid. At this point, the institution and the insurance company agree on a contract on what to cover. The team keeps an eye on the remittance process to ensure they catch any response, such as errors made or rejection of the claim, and files an appeal. The step also conducts contractual and non-contractual write-offs.
The next step is insurance follow-up. The health institution evaluates the receivables to determine what has been paid and what has not. Also, it considers whether the insurance follow-up team is well-trained, the process is efficient, or whether immediate steps need to be taken to fix the situation. The final step is patient collections. The front desk personnel collects money from patients as they get their services and sends out periodic patient statements (Moheiser & Tolliver, 2020, pp. 10-15).
1 Description of the responsibilities of health information management staff members at every step of the revenue cycle in which they are involved.
Health information management professionals engage in various functions of the revenue cycle. The preregistration step provides the data that outlines the procedure prices shared with self-paying clients once they make an appointment. The professionals counsel all patients on the institution’s financial process of getting services (Moheiser & Tolliver, 2020, pp. 10-15).
In the registration step, th...
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