16 Dec The Revenue Cycle [Infographic]
Our Favorite Revenue Cycle Illustration
Sometimes we over-simplify processes in our offices and processes related to the revenue cycle. Posting payments, checking in a patient, and releasing charges sound simplistic, but when viewed as part of the greater whole, these pieces become inextricable aspects of the overall revenue cycle process.
There are many graphics available to illustrate revenue cycle, but one of our favorites is the below graphic. It is certainly one of the most complex we have seen, but in its complexity is a detailed portrayal of the revenue cycle, which is a complex process. With so many moving parts, a failure in one area of the cycle affects other elements of the cycle.
Review this graphic and consider each of these pieces of the revenue cycle in your own practice. How do you register patients? What safeguards do you have in place to ensure full charge capture? What is your process for handling payor denials?