Revenue Cycles In The Healthcare Industry

128 Words1 Page
The term “revenue cycle” is most often used in the healthcare industry. Revenue cycle means all administrative tasks that contribute to tracking and managing claims as well as, the collection of patient service revenue, (Key Strategies for Modernizing the Revenue Cycle, 2015). The healthcare revenue cycle process means determining patient eligibility, collecting co-pays, managing claims, collecting payments, and following up on denied claims (Consolver & Phillips, 2014). In general this means the entire patient engagement of their account from beginning to end. Revenue cycle refers to anything that has to do with billing. Revenue cycle in healthcare is the process of managing the organization claims processing, payment and revenue production
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