Explain why revenue cycle management

Reference no: EM133638207

Question

Community Medical Center's charges, payments, and adjustments from third-party payers for the month of July are represented in the table below.

a. Calculate the percentage of charges, payments, and adjustments for each third-party payer and enter the percentages in the correct columns of the table. Payer Charges Payments Adjustment Charges Payments Adjustments BC/BS $450,000 $360,000 $90,000 Commercial $250,000 $200,000 $50,000 Medicaid $350,000 $75,000 $275,000 Medicare $750,000 $495,000 $255,000 TRICARE $150,000 $50,000 $100,000 Totals $1,950,000 $1,180,000 $770,000 100% 100% 100%

Managed care capitated payment for period

b. Based on the percentages calculated in the charges column, identify the payer the facility does the most business with and the payer it does the least business with.

c. Based on the percentages calculated in the payment column, identify the payers that reimburse the facility the most and the least.

d. Based on the percentages calculated in the adjustments column, identify the payers that proportionately reimburse the facility the most and the least.

Explain why revenue cycle management is important and what the role for HIM professionals is in the process.

Reference no: EM133638207

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