The Revenue Cycle Defined:
"... the process that begins when a patient comes into the system and includes all activities that lead
up to the billing and through the collection process”.
Source:
Cap Gemini, http://www.capgemini.com.
The
lengthening revenue cycle affects all specialties within the health care delivery system. The dilemma for the health
care provider has to do with the lack of control over shortening it.
Whatever the reasons for unpredictable
revenue cycles … payer systems issues related to HIPAA revisions, ICD-10 implementations, technology upgrades, or simply payer
dominance in a given market area … it is clear that the time lag between the provision of service and
the receipt of payment is critical and worsening!
The impact of health care reform on provider reimbursements
will result in the timely access to operating
cash as the most serious financial issue facing health
care providers ... beyond what it is today ... and well into the future!
