Revenue management and reimbursement is a financial process that healthcare faci

Question

Revenue management and reimbursement is a financial process that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. It couples administart5ive data such as a patient's name, insurance provider and other personal information, with the treatment a patient receives and their healthcare data. It includes all clinical functions that contribute to the capture, management and collection of patient service revenue. Medical services are rendered into billable charges; claims of billable fees are submitted to insurance companies. It helps determining patient balances and collecting payments and Collecting subsequent patient information during registration to establish a medical record number and meet various regulatory, financial and clinical requirements. Patients also are benefited with such system as they get a hassle free treatment quickly without getting into formalities of registration every time. This is most beneficial in emergency situations. Patients can get complete access to their records of payment and insurance covered, thus it facilitates transparency further leading to building customer’s trust on health care organization

Explanation / Answer

Revenue managment and reimbursement : explains its purpose and significance in terms of health information management and how the topic benefits our customers/patients.

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