ABSTRACT
The healthcare industry is under tremendous pressure to improve the quality of care, while simultaneously facing declining reimbursements and margins. In an effort to increase revenues and improve operations, many leaders have shifted focus to financial functions as an opportunity. According to the Healthcare Financial Management Association, the revenue cycle process includes all the administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue. The growth in revenue cycle management functions precipitated from the interconnectivity of the process that links the front-end functions to the back-end functions. Using a robust single technology platform is important in making sure that all the revenue cycle processes are fully monitored and audited for opportunity. In developing the revenue cycle program, it is important that the right infrastructure and governance is put into place to maximize performance. This includes a working group that should be led by the revenue cycle vice president.
