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Chapter 13 introduces us to the revenue cycle and the phases of the life cycle of patient accounts and collections. After reviewing all the chapters for week 4, please select and answer one of the following questions:
- What are the steps in the revenue cycle? 70-100 words
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- Compare and contrast the ABC and VED analysis that are carried out in stores of the hospitalEvaluate which model(s) and method(s) will positively impact revenue-cycle processes within the healthcare organizationYou are in your new job as the Chief Financial Officer for a hospital that is struggling with patient collections and you may have to recommend staff reductions to keep the hospital solvent, what ways would you use to boost collection of patient financial responsibility and what would you do if the patient still cannot pay?
- Supply chain costs are the greatest expense for the average health system.TrueFalseWhat are the revenue cycle management in medical healthcare billing?Being the department manager of the Supply chain of a courier company, how can the issues of supply chain be resolved, particularly the problem of delivering wrong order.
- Describe each of the revenue cycle steps in healthcare.Describe the effective inventory management process of medicines in a hospital? Please answer at your own easy words. Answer should be to the point.Course: Principle Of Healthcare Finance What is a best practice for increasing hospital profitability? Adding a service line Reduce staffing and supply costs Involve physicians in cost reduction strategies All of these