Chapter 1: The Goal of Revenue Cycle Management

Question 1

What is defined as the total amount of money that a business receives from its normal operations over a period of time (such as year)?

Answer 1

Revenue.

Question 2

A Revenue cycle in a medical office begins with patient registration, continues though the patient’s encounter and?

Answer 2

Submission of the insurance claim, and concludes with posting of th payment and collecting any balance owed by the patient.

Question 3

What is a key in financial process which results in correct, optimum and timely reimbursement for services provided to patients?

Answer 3

Revenue Cycle Management.

Question 4

Revenue Cycle Management ensures the office’s viability and maintains a steady?

Answer 4

Cash flow.

Question 5

Cash flow is the cash a business has generated and has available for use especially to?

Answer 5

To pay expenses.