Financial Operations of Healthcare Organizations

Business and Finance homework help: Much of what happens in healthcare is about understanding the expectations of the many departments and personnel within the organization. Reimbursement drives the financial operations of healthcare organizations; each department affects the reimbursement process regarding timelines and the amount of money put into and taken out of the system. However, if departments do not follow the guidelines put into place or do not capture the necessary information, it can be detrimental to the reimbursement system. An important role for patient financial services (PFS) personnel is to monitor the reimbursement process, analyze the reimbursement process, and suggest changes to help maximize the reimbursement.

One way to make this process more efficient is by ensuring that the various departments and personnel are exposed to the necessary knowledge. Milestone One provides you an opportunity to engage with real-world data and tools that you would encounter in an actual professional environment. Specifically, you will begin thinking about the purpose of reimbursement and how it impacts other healthcare departments. You will also practice analyzing the revenue cycle. Prompt: Submit a draft of your Section I of the final project. Specifically, the following critical elements must be addressed:

I. Reimbursement and the Revenue Cycle A. Describe what reimbursement means to this specific healthcare organization. What would happen if services were provided to patients but no

payments were received for these services? What specific data would you review in the reimbursement area to know whether changes were necessary?

B. Illustrate the revenue cycle using a flowchart tool. Take the patient through the cycle from the initial point of contact through the care and ending at the point where the payment is collected.

C. Prioritize the departments at this specific healthcare organization in order of their importance to the revenue cycle. Support your ordering of the departments with evidence.

Guidelines for Submission: Your draft must be submitted as a three- to four-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least three sources, which should be cited in APA format.

Rubric Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Reimbursement and the Revenue Cycle:

Reimbursement

Comprehensively describes what reimbursement means to this specific healthcare organization

Describes what reimbursement means to a healthcare organization, but description is not comprehensive or is not specific

Does not describe what reimbursement means to a specific healthcare organization

30

Reimbursement and the Revenue Cycle:

Revenue

Accurately illustrates the revenue cycle using a flowchart

Illustrates the revenue cycle using a flowchart, but illustration is inaccurate or incomplete

Does not illustrate the revenue cycle using a flowchart

30

Reimbursement and the Revenue Cycle:

Prioritize

Prioritizes the departments at this specific healthcare organization in order of importance to the revenue cycle, supporting ordering of departments with evidence

Prioritizes the departments at a healthcare organization in order of importance to the revenue cycle but is not specific to this healthcare organization or does not include support for ordering

Does not prioritize the departments at a healthcare organization in order of importance to the revenue cycle

30

Articulation of Response

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

10

Earned Total 100%