Module 5 Preparation

Preparing for Your Revenue Cycle PPE

As you read, think about coding as a career and what steps you would need to take to secure a position in revenue cycle. You may find it an advantage to secure any position in an HIM department and successfully sit for your RHIT exam before venturing into this area. Many HIT students opt to sit for and pass the CPC exam first. As many facilities are bringing professional fee coding back in house, there is a high demand for graduates who hold a CPC credential, a basic understanding of revenue cycle, and have the potential to fit in with the existing team.

More and more entry-level RHIT professionals are finding themselves in entry-level coding positions where the facility is willing to train and little or no experience is required.. This module will expose you to revenue cycle and how you can best prepare.

Instructor Tips For Success: Background and What to Expect

What can you expect as a new revenue cycle specialist on the job? What kinds of questions will you possibly be asked on the RHIT exam? How can you find just the right job that may lead to advancement. Many new graduates are able to secure a position in revenue cycle with the basic experience and content learned in HIT 79, HIT 76 and HIT 72. A background in medical billing can also help support success too.

Are you confused as just what is revenue cycle. Watch this following video on the basics and you will see how familiar the basic components of revenue cycle are.

Reading/Review Assignments

Consider the following resources to assist you in your review of organization and management.

Revenue Cycle Resources.jpg

Consider the following Sayles crosswalk with your AS degree competencies. This sheet will point you to the appropriate chapters in Sayles to review before you complete the assignments in this module and sit for your RHIT exam.

The Importance of Revenue Cycle

With the EHR, many applications that were once separate are now combined in the EHR. Revenue Cycle, composed of admissions & registration, HIM, and Hospital Billing, is integral to modern healthcare.

In addition to providing the highest quality of care, a successful revenue cycle management (RCM) process is essential to an organization’s fiscal health. Hospitals and health systems need to be acutely aware of how it works, ways to improve it and how to tackle common challenges in a rapidly evolving environment marked by increasing demands. A healthy and successful healthcare RCM process helps ensure timely revenue, steady collections, and financial viability for organizations, making it possible to focus on delivering quality care to patients.

RCM is unique to each organization and its ability to manage medical billing and revenue effectively. Still, from 100-bed hospitals to large health systems, the bottom line is the same for all: increase revenue and reduce debt and expenses. These fundamental elements require alignment from both the patient’s healthcare team and an organization’s administrative team. Today’s patient is seeking an experience that is seamless and integrated from the moment they schedule an appointment or walk into a hospital or practice, to the moment they receive their bill. This requires teams to work in lockstep to ensure the most efficient RCM process possible. Whether it’s charge capture, claim submission, coding, patient collections, registration, remittance processing, third-party follow-up or utilization review, each step impacts the speed at which revenue is recognized and the organization’s overall fiscal health.

Check out the following articles and video. What do you think?

Download the book on Practice Management and RCM

What is Healthcare Revenue Cycle

Why is RCM Important?

What is Revenue Cycle in Healthcare

260+ Revenue Cycle Companies to Know

Is RCM the same as medical billing?

The question of in-house RCM or outsourced RCM is often debated. Watch the following video on the two options.

Reminder

After reviewing the information from each section above, click on the Next button to continue through the module!