What are the stages of the revenue cycle?
Applied Medical Systems
Traditional revenue cycle models, dividing processes into front (registration), middle (clinical documentation), and back (billing/collections), oversimplify the reality of interconnected functions. Modern healthcare demands a more holistic “web” view, especially with increasing patient consumerism. Key stages include:
- Pre-registration: Collect accurate patient data, complete prior authorization, and ensure financial clearance
- Point of service: collect patient payments for service, including copay or self-pay balances
- Claim submission: Accurate coding and supporting documentation provided
- Claim follow-up: Claim denials can occur for various reasons; timely follow-up is crucial for correction or appeal
- Patient collections: Maintain accurate billing and follow-up to collect payments, transitioning to state-compliant collections for debts over 120 days
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